Kuveyt Turk is providing support for its customers and those in real need during coronavirus outbreak. Kuveyt Turk, postponing any installments of the customers which are affected by the outbreak and have requested so for a period of 3 months without charging any profit share or fee, has restructured a financing in an amount of 1 billion 150 million TL for customers requesting flexible maturity. Having disbursed new financing of 110 million TL out of Credit Guarantee Fund (CGF) stimulus packages, Kuveyt Turk has already provided new financing support of 3.5 billion TL for the real sector. During the National Solidarity Campaign run with the motto “We can hold out altogether Turkey”, donations granted by Kuveyt Turk Finance Group amounts to 20 million.
Kuveyt Turk, one of the leading financial institutions of Turkey having accomplished ample number of social responsibility projects intended to preserve, develop and sustain the assets of our country based on the understanding: “We grow on our values”, has put in place support for its customers being affected by the coronavirus outbreak and those in real need.
In the early days of coronavirus when the impacts of outbreak were first noticed, Kuveyt Turk has prepared a support package for those of its individual and corporate customers whose cash flow were disrupted and the practices introduced pertaining to customers under the support package formally announced on March 24, 2020 are as follows:
20 million TL worth of support for “We can hold out altogether Turkey Campaign”
- Kuveyt Turk has postponed an amount of 800 million TL in installments due in April to the end of June without charging any profit share or fee upon swift review of requests lodged by 21 thousand of its customers.
- Kuveyt Turk has restructured a financing exposure of around 1 billion 150 million TL of those customers which had requested for more flexible maturities as per the existing payment schedule.
- In parallel to ongoing activities pertaining to rescheduling and disbursement of new funds for CGF and KOSGEB loans in cooperation with the related agencies, a new financing in the amount of 110 million TK has been disbursed out of new CGF stimulus packages.
- Support continued for the real sector with the disbursement of new funding of 3,5 billion TL.
Kuveyt Turk having supported various social solidarity campaigns until now has participated in the National Solidarity Campaign initiated by the Presidency with a view to support those in real need who are affected by the outbreak. Kuveyt Turk Finance Group donated 20 million TL to the campaign run with the motto “We can hold out altogether Turkey”. Furthermore, Kuveyt Turk has called on its employees and customers to champion the National Solidarity Campaign.
Having taken drastic measures from the initial days of the outbreak, Kuveyt Turk has put into practice a series of facilitations focused on any financial needs of the customers. Primarily, Kuveyt Turk has increased the limit of money withdrawal through a debit card, credit card and QR code from its ATMs up to 5,000 TL, and rendered any withdrawal from ATMs placed in PTT branches and ATMs of any other bank to 2.000 TL viable without any charge. The limit of free EFT and remittance processes are increased to 50.000 TL. During such a delicate period, Kuveyt Turk recommends its customers to not go to the branches of the bank if not required to do so, and to deposit and withdraw money primarily through the use of ATM, QR code and call center and of payment without contact in any shopping made through a credit card.