Friday, April 24, 2020 / 5:26 PM /Standard Chartered

The Board and Management Team of StandardChartered PLC "the Group", alongside all our 84,000 colleagues remaincommitted to supporting our clients in the communities in which we operate,both through the current pandemic crisis and the longer-term support andrenewal phase.

Given the underlying resilience of the Group, theBank has positioned itself to help clients through the implementation ofseveral measures to provide relief. Stemming from our commitment to be sociallyresponsible and client focused at all times, we have put these measures to easethe financial pressure on our clients, through the provision of temporaryrelief on the following financial obligations.

A 3-Month Payment Holiday on Personal Loans andRetail Mortgages (including Business Mortgages)

Credit Cards: Clients who currently pay the totalamount due on their credit card monthly, can now request to change this to a monthlypayment of the minimum amount that is due on the card which is 1% of theoutstanding balance plus interest (subject to a minimum of NGN5,000).

The Bank will also provide a 3-Month PaymentHoliday on other Retail Business Loans.

On the 9th of April, globally we announced thefirst set of measures we would provide as an immediate support response toclients; reiterating our commitment to providing timely strategic supportacross our footprints to colleagues, communities and our clients. These includea US$1 billion of financing for companies that provide goods and services tohelp the fight against Covid-19, and those planning the switch into makingproducts that are in high demand to fight the global pandemic. We are seeinghigh demand for funding and have already approved over US$75m of facilities inthe first week.

Speaking on the relief measures in Nigeria, LaminManjang, CEO said, "We have put in place this comprehensive support schemefor retail and business customers, which covers loan repayment holidays. Wehave done this because our relationship with clients is built on trust andcommitment. Our customers have trusted us to grow their investments over theyears and for us providing the financial relief is just one of the many ways wecontinue to reiterate our dedication to them that we are truly Here for good."

For more details on our relief measures to supportour clients and communities in the fight against the COVID-19 pandemic, pleasevisit sc.com/ng

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