Extra support for businesses affected by the coronavirus

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ABN AMRO is extending the previously announced support measures for businesses – clients with a credit facility of up to 50 million euros can now defer payment of principal and interest.

The coronavirus outbreak is having an immediate impact on the financial situation of many businesses. That’s why ABN AMRO announced last week that, for Commercial Banking clients with a credit facility of up to 2.5 million euros, payment of principal and interest will be deferred for six months. This measure is now being extended to Commercial Banking clients with a credit facility with a principal and/or a limit of up to 50 million euros.

Principal and interest payments will not be collected from these clients from April through September. They will be allowed to make these payments at a later date. Any client that does not need to defer payment is required to inform the bank by 31 March 2020 at the latest. Payment will not be deferred for these clients.

Breathing space

Daphne de Kluis, CEO of Commercial Banking: “The deferral measure gives clients more scope in their liquidity position. And by automatically implementing it, we can make these arrangements quickly for a large group of businesses. We saw last week that this works well and gives clients peace of mind. We have therefore decided to raise the limit to 50 million euros. This will give larger Commercial Banking clients breathing space too.”

Further details of this new measure are provided in the press release.

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