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6 Member Banks of HKAB Negotiate to Help SMEs Relieve Liquidity Pressure
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In light of recent developments in the construction industry, the Hong Kong Association of Banks (HKAB) Commercial Banking Group discussed to provide assistance to the industry in resolving cash flow constraints. Six member banks, namely Standard Chartered Hong Kong, BOC HONG KONG (02388.HK), HSBC, BANK OF E ASIA (00023.HK), DBS Hong Kong and HANG SENG BANK (00011.HK) agreed to conduct a trial and jointly negotiate customer financial arrangements on a fair basis to achieve the consistent goal of helping customers resolve their financial difficulties. According to the HKAB, the banking industry has been providing support measures to customers in different industries, in order to promote the economic development of Hong Kong together with various industries. The HKAB encourages customers to take the initiative to contact their lending banks when facing unexpected liquidity pressure, to maintain transparent and interactive communication, and to provide relevant information to enable banks to better understand the actual situation of their enterprises in a timely manner. Banks will try their best to handle the situation flexibly according to the circumstances of individual customers as far as practicable, so as to alleviate the pressure on customers' liquidity, said the HKAB. AAStocks Financial News |
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