Sampath Bank extends its support to affected borrowers in 2020

Sampath Bank PLC extended the debt moratorium to COVID-19 affected businesses and individuals for a second time, from 1st October 2020. This extension was well appreciated by all its customers, judging from the large volumes of applications received from individuals, proprietors, and businesses. Going beyond a singular focus on its own bottom line, the Bank has always strived to be empathetic to the needs of the people, especially as the pandemic continues to cause economic hardship to the nation today.

The second extension allowed affected customers engaged in tourism, direct and indirect export-related businesses including apparel, IT, tea, spices, plantation, logistic suppliers, event management and any sectors that have been adversely affected by work disruption to apply for a further 3-month grace period.

The scheme was also extended to Small and Medium Enterprises (SMEs) and individuals engaged in business sectors such as manufacturing, non-financial services, agriculture, construction, value addition and trading businesses including authorized domestic pharmaceutical suppliers, and individuals and businesses who must repay loans in foreign currency and whose incomes/businesses have been adversely affected.