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Covid-19 'wake-up call' for banks

Cheryl Poh
Cheryl Poh • 8 min read
Covid-19 'wake-up call' for banks
“[Covid-19] calls for a significant change in mindset": OCBC Bank (Malaysia) CEO Ong Eng Bin.
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The Covid-19 pandemic has been a “wake-up call” for the banking industry to do more for its customers even if it comes at a cost, OCBC Bank (Malaysia) CEO Ong Eng Bin tells The Edge Malaysia.

“It calls for a significant change in mindset. The high number of customers applying for the [national] relief programmes may seem worrying, but as a bank for the long term, this is a lifetime opportunity to help our customers.

“If a customer has a 35-year housing loan, what is it to the bank to help him or her out for a year or two? By doing so, the customer will remember your help when it mattered most!” Ong stresses.

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