Krungthai Bank announced on Thursday (January 30) a loan programme to offset the pressure on its corporate customers in the tourism and export sector, especially companies that ship their products to China.

Under the campaign, customers in the hotel and export businesses, are offered a grace period on repayment of the loan principle for a maximum of 12 months.

Payong Srivanich, the bank’s president said the board was aware of the hardship of its clients in the tourism and export sectors.

On the same day (January 30), Government Housing Bank (GH Bank) announced an allocation of Bt1 billion for an emergency loan programme in support of existing clients affected by the novel coronavirus crisis.

Under the campaign, it will slash interest rate on current borrowing to 0.01 per cent for six months. This will lead to lower monthly installment payment as a result of the rate cut.

Eligible borrowers under the new programme must be existing customers of the bank before January 30.

They must also prove that their incomes have been affected by the virus outbreak, such as tour guides, hotel staff, or businesses selling products to Chinese tourists. Loan application period is set from January 30 to March 31 at GH Bank branches nationwide.

The bank wanted to provide relief to customers, said GH Bank President Chatchai Sirilai.

On January 29, Siam Commercial Bank (SCB) said it was offering a six-month grace period on repayment of the loan principal to existing customers in the hotel business. If the crisis prolongs, SCB said it would introduce further measures.

On the same day (January 29), Kasikornbank (KBank) announced its offering of a 12-month grace period on repayment of the loan principle to its existing clients of small and medium-sized enterprises (SMEs) in the tourism sector.

Meanwhile, the Bank of Thailand (BOT) on Thursday (January 30) urged financial institutions to provide assistance to clients affected by the crisis.