Bank of Ireland announces supports for Wuhan coronavirus hit businesses
Topics: BANK OF IRELAND WUHAN CORONAVIRUS
These include the provision of emergency working capital and payment flexibility on loan facilities.
They also include the provision of trade finance and foreign currency products to support sourcing products from new suppliers internationally.
Bank of Ireland said it will be making proactive contact with businesses that may be impacted by the virus.
The bank said the impact of Covid-19 virus is being felt in many ways across different business sectors.
"This includes weaker trading as a result of a reduction in business and tourist travel, supply chain interruption due to the knock on impacts of a slowdown of production in China, and reduced orders from international customers as the global economy starts to deal with the impact of the virus," the bank said.
Bank of Ireland also said that given the fast-moving nature of the ongoing issue, it will prioritise loan decisions for impacted businesses.
The bank said it will review the supports required for all of its customers as the impact of the virus on both its business and personal customers is further understood over the coming weeks.
It also advised customers who are concerned about the impact of coronavirus on their business to make contact with their Business Relationship Manager or ring 0818 200348.
Bank of Ireland said that sectoral experts in agriculture, manufacturing, hospitality, health, food and beverage and retail convenience are also available to support customers. ■