The Zambia National Commercial Bank (ZANACO) has announced the financial relief packages available to its customers in the awake of the COVID-19 pandemic.
ZANACO Acting Chief Executive Officer Lishala Situmbeko explained that the relief is aimed at cushioning the negative economic effects that COVID-19 has caused on the customers.
“The impact that the COVID-19 has had on individual and business cannot be ignored and it calls for all of us to be supportive of each other. As a bank, we recognize the need to support our customers at a time like this, because it is not business as usual,” said Mr. Situmbeko.
He noted that the relief will be available to personal, business banking and corporate customers who have existing loan facilities with the bank.
He said this will be done after extensive engagements with different customers and stakeholders.
Mr. Situmbeko stated that the relief will include extension of loan tenures, refinancing of loans and loan repayments holidays.
He added that the assistance will be provided in line with the bank’s credit parameters and customer needs.
He further explained that ZANACO seeks to ensure that it customers’ cash flow are cushioned in the medium term and will also provide business coaching and investment guidance.
“We would like to assure our customers that they are not alone in this journey, our doors are open and we are ready to assist them through these uncertain times and beyond the COVID-19 pandemic,” he said.
This is contained in press statement issued to media by ZANACO Head of Marketing and Communications Mutinta Musokotwane.