Mr. Predee Daochai, KBank President

KBANK launches urgent assistance for storm Podul victims

Tropical storm Podul – which swept across Thailand on August 30 – has caused a massive damage in several provinces and adversely affected a large number of people nationwide. Hence, KASIKORNBANK has introduced urgent measures to ease the suffering and burden of our retail and business customers who are affected by the tropical storm by providing up to a six-month grace period for principal payment and financial support to rebuild their businesses and houses. Additionally, KBank has sent our staff to the affected areas to provide assistance to our customers.

Mr. Predee Daochai, KBank President, said that due to the devastation caused by tropical storm Podul in many provinces across Thailand, plus potential damage from tropical depression Kajiki, which is expected to hit Thailand soon, a large number of KBank’s customers in Roi Et, Maha Sarakham, Yasothon, Kalasin, Khon Kaen, Mukdahan, Phichit, Ubon Ratchathani and Phitsanulok provinces, have been adversely affected. To help both our customers and their suppliers recover and continue their businesses, KBank has introduced a number of assistance measures.

As part of our relief support for flood victims, business customers will be granted a debt moratorium of up to six months and the offering of loan for business rehabilitation with no principal payment allowed for up to six months with loan term of no more than five years.

For home loan, credit card and express cash card clients, assistance measures will also include a debt moratorium of up to six months. Customers with mortgage loan with KBank are granted a new loan amount for home repairs plus a six-month grace period for principal payment. For auto loan clients, they are offered 50-percent reduction of installment payment for up to six months including waiver of fees and late payment penalties.