The National Bank of Samoa (N.B.S.) is encouraging their customers to talk to the bank as soon as possible as the country braces for the financial impact of the coronavirus (COVID-19) restrictions.

The Bank also plans to offer assistance to their customers during these trying times.

According to a statement from the Bank, apart from implementing hygiene measures across the business to protect customers and employees, the NBS is going to help mitigate the virus' impact on their customers’ businesses, employment and incomes.

Such solutions include reducing or temporarily moving to interest-only repayments, helping with restructuring loans, consolidating loans to help make repayments more manageable, providing access to short-term funding, and reviewing some of our debt recovery actions.

Also, the Bank are continuing to work closely with our collections customers to ensure they are well looked after, especially during such difficult times.

“Our response is to protect our people while remaining open for business and N.B.S. is moving to reconfigure services, shift employee work arrangements and review our strategies to assist our communities and support the economy where we can,” the statement reads.

“We are confident that every bank is taking this seriously and offering assistance where they can. We understand the Covid-19 situation may create uncertainty or financial pressure which is why communication is key.

“It is important for affected customers to talk to your bank as soon as possible to make them aware of your situation so they can support you through it.”

The N.B.S. understands that they cannot help every customer but they do assure to do their best to support the people of Samoa through the global crisis.