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Banks offer plans on loans, Atlantic Bank, Belize Bank Notices

Posted By: Marty

Banks offer plans on loans, Atlantic Bank, Belize Bank Notices - 03/25/20 11:48 AM

Some positive news from our local Atlantic and Belize Banks

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Posted By: Marty

Re: Banks offer plans on loans, Atlantic Bank, Belize Bank Notices - 03/26/20 11:11 AM

Banks Give A Break

In terms of economic relief for those who have loan obligations at the bank, the Governor of the Central Bank outlined what they have committed to:

Dr. A. Joy Grant - Governor, Central Bank

"The cooperation from the banks has been a stellar and what they have agreed to do primarily is to look at the loans that will need to be refinanced. There are different approaches, one bank took the position that every loan that was performing on their books, they would give a moratorium 3 months of principal and interest and if you don't want the moratorium them it was up to you, to get in touch with the bank to say that you don't want it. The others have taken the position that you will come into the bank and negotiate with the them about what is the best thing for you. So interest rates in some instances are being reduced, the period for repayment, those are being extended. For tourism which is being hit the hardest, for non-performing loans, we've reduced the amount that they have to make provisions for from 100% to 50%, which means that they have more money out there to lend to other people and it's important to that the bank has agreed to 2% lowering of the liquidity ratio which puts an addition 58 million dollars with the banks for them to lend because it's all good to say that we're going to give people a sum relief on repayment but we have to get additional money out there because people must be ready for when the tourists or when business starts up again that there are in a position to start, so they're also doing some new loans. For the credit unions they are doing the same thing, that they are looking at the loans on their books and they're giving relief wherever they can and as I said we continue to meet, we'll meet tomorrow because there are always additional things we can do. We feel quite positive at the central bank that we will do whatever; it takes to keep this economy going and growing. There is no question, nobody should be concerned, your balances at the bank, they are secured, there is no need to panic and we will do as a central bank, whatever it takes."

Channel 7
Posted By: Marty

Re: Banks offer plans on loans, Atlantic Bank, Belize Bank Notices - 04/02/20 11:14 AM

Notice from Atlantic Bank

Dear Valued Customers,

In light of Covid-19 and the country's nationwide State of Emergency we would like to assure our customers that we will continue to provide essential banking services.

With ensuring the health and safety of our customers, staff and communities we have adjusted our opening hours, starting on Thursday April 2nd, 2020:

All branches except our Ladyville branch will be opened from 8:00 AM to 12:00 PM.
Ladyville branch will be opened from 9:00 AM 12:00 PM.
Drive thrus will be opened from 8:00 AM - 1:00 PM.
All branches and drive thrus will be closed on Saturdays.

We also encourage you to utilize your debit and credit cards, Online Banking Platform and other digital platforms for your banking needs.

As we continue to closely monitor the situation, we will share information as to how the Bank will continue to operate in a safe and healthy manner. If you have any questions, please Contact Us via chat at www.atlabank.com.
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