As COVID-19 pandemic rages on, prompting an shut down on economic activities as result of the compulsory lock down ordered by the Federal Government
As COVID-19 pandemic rages on, prompting an shut down on economic activities as result of the compulsory lock down ordered by the Federal Government to prevent its spread, foremost banking institution, Guaranty Trust Bank, has announced that it is granting Small and medium Scale Enterprises,SMEs, a 90 day grace period on loan repayment.
SMEs to benefit from this grace period are those in the food/drink industry, fashion/beauty industry as well as individuals, specifically salary earners who need instant money to offset bills.
The announcement of the 90 days grace period comes just as the bank made delivery of a 110 bed isolation centre to the Lagos State government to assist in the fight against the pandemic which has seen death toll rise to 110,000 globally, with the United States alone recording 20,000. In Nigeria, while coronavirus cases has risen to 318, there has only been 10 deaths recorded so far.
This is also besides the N1bn donated to the Private Sector Coalition Against COVID-19 managed by the Central Bank of Nigeria, with a view to supporting the fight against the pandemic.
The Bank’s achievements over the years has led to numerous accolades in recognition of excellent service delivery, innovation, corporate social responsibility and good corporate governance. GTBank hopes to build an enduring Proudly African and Truly International Institution that plays a fundamental role as a Platform for Enriching Lives by building strong, value adding relationships with our customers, stakeholders and the communities in which it operates.
