HANG SENG BANK
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BUILDING HEALTHY AND LONGLASTING CLIENT RELATIONSHIPS
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ntrepreneurial corporate and local business are integral to Hong Kong’s economic success. With roots sinking deep in their home, Hong Kong, Hang Seng spares no effort in building healthy and long-lasting relationships with their clients. As businesses have faced immense difficulties due to the COVID-19 pandemic, the bank has shown their commitment to be with their customers in good and bad times by providing unparalleled support to help its clients weather this unprecedented crisis both online and offline. Solutions to ease pandemic strain “We focused on providing liquidity support to customers and our proactive approach and fast response has helped see customers through this difficult period,” said Donald Lam, head of commercial banking at Hang Seng Bank. In early February 2020, the bank established a principal moratorium programme to extend the principal repayment period for many of its commercial customers. Hang Seng is also amongst the first batch of banks taking the initiative to reach out to commercial customers in the hard time. Hang Seng Bank also threw its weight behind various government initiatives geared at helping SMEs. Hang Seng fully supports the Special 100% Loan Guarantee under the SME Financing Guarantee Scheme (“SFGS”). To simplify the application
30 HONG KONG BUSINESS ANNUAL 2021
process for the needed business owners, Hang Seng launched the first-in-market online application for SFGS, which enables businesses to apply for the SFGS with just three simple steps. Making one step easier for owners to get the funds to lessen their pressure on paying rent and salary during this difficult time. As of 30 December 2020, over 40% of applications for Special 100% Loan Guarantee came from online channels. In addition, the bank also supported the Hong Kong Monetary Authority’s Pre-approved Principal Payment Holiday Scheme, which provides payment holidays to over 80% of eligible customers. Under the scheme, principal payments of loans will generally be deferred by six months, whilst the principal repayment of trade facilities will be deferred by 90 days. “Relieve measures aside, it is our professional relationship management team who has been keeping a close relationship with clients that truly help the customers through by tailor-made proposals to alleviate their burden,” Lam added. Simplify the way of doing business Hang Seng’s goal is to simplify the way businesses manage their finance. “Every features in our digital banking solutions are designed based on the business needs of our customers. We aim to make their business management easier and more efficient,” Through continued investment in enhancing its digital capabilities,
