Nedbank assists clients with cash-flow challenges as a result of Covid-19

Nedbank has joined Standard Bank by undertaking to assist its clients, including small businesses, by extending loan payments or credit.

It did not state the terms of the offer.

Instead, the bank said it would support its clients “with suitable individual solutions” to cash-flow challenges they may experience as a result of Covid-19.

“This support could include deferring payments (or part thereof) for a suitable period, extending existing loan periods or extending additional credit to manage short term cash-flow shortfalls.”

The bank's Kedibone Molopyane said: “Nedbank understands that we have a responsibility to do all we can to play our part in reducing the impact of Covid-19 on our customers, our economy and our country. We are committed to supporting our clients during this time of uncertainty and have a number of solutions available to assist clients in good standing who are impacted by this pandemic.”

“We continue to work with our clients, regulators, industry bodies and government to mitigate the impact of Covid-19 and will provide further guidance to clients on these matters as they evolve,” Molopyane said.