Hong Kong banks unveil relief measures for mortgage borrowers hit by coronavirus [Reuters]
BOC HK HLDGS LTD S/ADR (BHKLY)
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Source: Reuters
Hong Kong banks unveil relief measures for mortgage borrowers hit by coronavirus HONG KONG (Reuters) - At least two banks in Hong Kong have introduced relief measures for home mortgage borrowers hurt by the coronavirus outbreak, in a move analysts say could help lower foreclosures in an economy already in recession. Bank of China (Hong Kong) ( 2388.HK ) and Standard Chartered ( 2888.HK ) have said mortgage customers may apply to pay only interest, and not principal, for up to six months, subject to an extension of another six months. “This is an effort to relieve the pressure of making monthly repayments for the individual and commercial customers who are more severely affected by the novel coronavirus outbreak, including but not limited to those in retail, food and beverage, logistics, tourism, hospitality and entertainment industries,” Bank of China (Hong Kong) said in a statement. Months of sometimes violent anti-government protests in Hong Kong last year plunged its economy in
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