Hong Kong banks including Standard Chartered and HSBC are offering billions of dollars in relief measures to borrowers as the coronavirus outbreak threatens to deal a further blow to an economy that is already in recession.
StanChart said it would allow clients with good repayment histories to make six months of interest-only mortgage payments, and would offer a similar moratorium on principal payments for some commercial loans.
The move follows an announcement by HSBC that it would provide more than HK$30bn ($3.9bn) in liquidity relief for businesses. This includes HK$10m in cash flow support for its trade finance customers and a moratorium on principal payments for commercial loans secured against property.
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