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Customers Impacted Financially By Covid-19 Encouraged by Debt Relief from Stanbic Bank

The debt relief is for qualified debtors, who had problems repaying their loans due to the COVID-19 pandemic

Stanbic Bank Zambia is putting smiles on the faces of its debtors, who may have been restless and worried about paying back their loans, ever since the global pandemic, COVID-19, struck. Now, the financial institution wants to offer debt relief to its customers, particularly those hit the hardest financially by the COVID-19 pandemic.

Leina Gabaraane, Chief Executive Stanbic Bank, stated that Business and Personal banking clients who meet the bank’s qualifying credit requirements would receive the debt relief.

According to the CEO, “Stanbic bank understands that the COVID-19 pandemic has hurt customers’ business and personal finances. It has affected it in the short-term and may likely slow down long-term sustainability. The top-ranking officer also used the opportunity to urge Stanbic customers facing financial difficulties to contact the bank for help.

He continued, “Stanbic Bank values your financial wellbeing and is fully committed to supporting you in this difficult time. However, if you have problems repaying your debts or have difficulties meeting your financial obligations, feel free to contact us.

The following customers qualify for debt relief, according to Stanbic Bank.

Persons who have existing borrowing facilities he or she acquired via the bank directly or through a scheme arrangement that was made with Stanbic and their employers.

Another set of debtors that qualify are small and medium-sized businesses that have existing borrowing facilities, including corporate and commercial clients who have existing borrowing facilities.

Mr. Gabaraane concluded by saying, “we are fully aware of the financial difficulties the COVID-19 has placed some of our esteemed clients, and we believe by offering some assistance, we can help to contribute to their general wellbeing and ensure the economy recovers faster.

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