COVID-19: Customer support and our action plan

Trade relief measures

To support our clients in Sri Lanka during this difficult time, we have offered a package of relief measures on Trade and Receivables Finance to our clients who are affected by the situation:

  • Up to an additional 60-day extension on trade loans maturing between 20 March and 30 April 2020.
  • Faster turnaround on shipping guarantees.
  • Waiver of amendment fees on import document credits relating to delays due to COVID-19.

Note: Terms and conditions apply.

Please speak to your Relationship Manager if you wish to know more or avail of the trade relief measures listed above.

 

Cash management relief measures

  • Waiver of setup fees for HSBCnet & security device token charges until 30 June 2020.
  • Waiver of late payment fees for Corporate Credit Cards until 30 September 2020.
  • Credit card minimum payment reduced to 2% until 30 September 2020.
  • Fee waiver specific to cheque returns and stop payments until 30 September 2020.
  • Validity period of cheques valued less than LKR500,000 until 31 May 2020.
  • Special deposit accounts now available where higher interest rates are offered.

Note : Terms and conditions apply.

Please speak to your Relationship Manager or Client Servicing Manager for further information.

 

Relief measures by the Central Bank of Sri Lanka

In line with the decision taken by the Government, the Monetary Board of Central Bank of Sri Lanka has issued a circular to all licensed banks of Sri Lanka to provide relief measures to assist businesses who are affected by the prevailing COVID-19 outbreak. Please speak to your Relationship Manager for more details.

If you need any further clarification on the process, please contact Sohantha Wijeysinghe on +94114/5-451520 or Romesha Gunesekera on +94114-451528.

 

Special Deposit Account (SDA)

The Government of Sri Lanka in consultation with the Monetary Board of The Central Bank of Sri Lanka (CBSL) has introduced a Special Deposit Account (SDA).

Corporate entities registered within and outside Sri Lanka can open SDAs, and could earn higher interest rates. These deposits are offered in a multitude of designated foreign currencies and are available in tenors of 6 and 12 months.

Opening and maintaining SDAs

SDAs shall be opened and maintained only in the form of Time Deposits in any designated foreign currency accepted by the Bank or in Sri Lankan Rupees.

Interest rates

  • 6 months deposits - Additional 1% p.a on the interest rate published by the Bank
  • 12 months deposits - Additional 2% p.a on the interest rate published by the Bank

Please contact Sidantha Goonesekera on 0114 451 604 for further information.

Sustainable Finance

HSBC aspires to be a leader in financing, managing and shaping the transition to a low-carbon world.

Webinar replay: Beyond trade tensions and COVID-19 – Prospects for growth in Asia and beyond

As the COVID-19 situation continues to evolve, businesses need to stay agile to respond to both the operational and financial challenges posed by the virus in the weeks and months ahead. In Sri Lanka, curfew has just been lifted earlier but the impact of COVID-19 and protracted US and China trade tensions on Asian economies is affecting supply chains and buyer demand.

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