Centenary Bank to restructure loans

As the economy comes to a standstill as a result of the Covid-19 lockdown, financial institutions such as banks have found it hard to manage non performing loans.

Centenary Bank as one of those institutions announced plans to reschedule loan payments since many of their clients are no longer working due to the prevailing circumstances.

In an interview with media, the managing director of the bank, Fabian Kasi called upon clients with active loans to go to their loans offices to reschedule their loans.

“For the people who have loans we are willing to sit down with them and discuss and possibly reschedule the loans,”he said.

He said very soon, the bank’s loan officers will reach out to the clients with outstanding loans.

The lockdown has not only affected the banks. It has also affected but also motor companies like Dura Motors Limited which said it has been giving out bikes on credit but now many of their clients are at home and are unable to pay.

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