The Bankers Association of Trinidad and Tobago (BATT) advises that all of its constituent banks continue to work with all customers and acknowledges the difficulties facing all during this very challenging period.
From the onset of the pandemic, and continuing to date, our member banks have implemented various measures, some of which include the deferral of payments on credit facilities and the waiver of fees on merchant services, including point-of-sale machines. The restructuring of loans specific to small and medium sized businesses along with larger entities, have been done through
tailored financial packages by the banks and has included facilitation of the Government of Trinidad and Tobago’s SME Stimulus Package.
BATT’s member banks stand ready to deliver on round two of the SME loan programme when so advised by and under the guidance of the Government of the Republic of Trinidad and Tobago. It should also be noted that for customers whose accounts were in arrears prior to the pandemic, and therefore who would not have been eligible for debt restructuring/moratoria, banks have been exploring alternative tailored solutions.
Many banks have also increased development and their communications of new electronic banking channels to assist with the ease of doing business whilst keeping customers safe.
BATT members continue to work directly with their clients on an individual basis, to determine how they can best address their customers’ needs and bring much-needed relief to the business community during this economic disruption.
BATT would like to continue to encourage customers to reach out to their specific bank to discuss a customized approach to address their specific needs.