The Bankers Association of Trinidad and Tobago (BATT) indicated yesterday that all eight of its constituent members continue to work with all their customers to bring them relief during a very challenging period.
In a statement yesterday, the bankers said that from the onset of the pandemic, and continuing to date, “our member banks have implemented various measures, some of which include the deferral of payments on credit facilities and the waiver of fees on merchant services, including point-of-sale machines”.
The association said the restructuring of loans specific to small- and medium-sized businesses, along with larger entities, has been done through tailored financial packages by the banks and has included facilitation of the Government of Trinidad and Tobago’s SME Stimulus Package.
“BATT’s member banks stand ready to deliver on round two of the SME loan programme when so advised by and under the guidance of the Government of the Republic of Trinidad and Tobago,” said the association.
The association noted that the country’s commercial banks have been exploring alternative tailored solutions for customers whose accounts were in arrears prior to the pandemic, and therefore who would not have been eligible for debt restructuring/moratoria by the financial institutions.
“BATT members continue to work directly with their clients on an individual basis, to determine how they can best address their customers’ needs and bring much-needed relief to the business community during this economic disruption,” the association said, adding that it encouraged customers to reach out to their specific bank to discuss a customised approach to address their specific needs.