27 March 2020

HSBC Malta introduces further measures to support businesses affected by Coronavirus

Contact us

Call us on: +356 2380 8000 Find a branch

Request a callback

Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. Current: Step 1 of 2 01
  2. 02 Step 02

Reason for contacting us

Enter a topic
Enter a topic

Contact details

Please enter your name
Please enter your telephone number

When may we call you?

Preferred time of day

We will call you within the next 3 business days

Back

Request a call-back - Your business interests (optional)

Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. 01 Completed Step 01
  2. 02 Current Step 02

Business size (optional)

Your business turnover

Your industry sector (optional)

Your market interest (optional)

Which international markets interest you?

Add your business interests

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

Business size

Your business turnover

Your industry sector

Your market interest

Which international markets interest you?

Request a callback

  • Sorry

We’ve encountered a problem

We couldn’t send your message. Please try again, return later or call us on

+356 2380 8000

Request a callback

  • Thank you

We’ll be in touch

A Relationship Manager from HSBC Malta will give you a call within three business days.

Your interests

  • Business name:
  • Turnover:
  • Sector:
  • Location:
  • International markets:

Add your business interests

We won’t sell your data or misuse it. Read how we handle your details in our cookie policy.

HSBC Malta has been closely following the development of the Novel Coronavirus (COVID-19) outbreak and its impact on the world economy. We understand that some of our local business customers may be facing or may face adverse effects as a result of this virus.

As a result we have introduced a range of measures and initiatives targeting different customer segments:

For trade and receivables finance customers

Some of our customers are facing supply chain disruption, with delays in receiving both goods and payments, leaving many with a gap in their working capital cycle leading to cash flow problems.

We have therefore put together a series of measures to assist customers making use of our Structured Trade Finance and Receivables Finance Facilities to support them throughout this period as follows:

  1. 90 day extension on Trade Loans maturity dates. This extension is being proposed due to various delays being observed in the industry to receive the goods and/or selling/obtaining payments from debtors.
  2. 90 day extensions on the funding period of specific Receivables Finance dues. This will avoid having to repay funds when invoices fall over-due, thus relieving further strain on the customer’s cash-flow.

In addition, The Global Trade and Receivables Finance (GTRF) team in HSBC Malta are ready to support our customers during this period, including forming solutions that will help us extend credit to our clients in a more structured manner.

HSBC will be close to our customers in sectors that are experiencing increased demand (e.g. medical, healthcare, consumer and certain services). For example some Customers are being required to confirm orders overnight and we are in a position to assist.

We will also be keeping customers updated on export/import restrictions that could significantly impact customers’ supply and distribution chains and help them navigate trade with new counterparties by maximising our network. GTRF colleagues will discuss the implications of different Government schemes that could benefit our customers.

Finally, the past few months has shown the value of going digital by reducing the need for our clients to move paper around. GTRF colleagues are leveraging the new digital capabilities of HSBC group to delivering and increase our e-penetration and make trade and GTRF finance simpler, safer and faster for our clients.

Specific terms and conditions may apply. Please contact us on trade.services.malta@hsbc.com for further information.

In addition we will continue offering the following assistance introduced early this month.

For our customers who meet our credit criteria we will consider the following concessions:

  1. Capital repayment holidays

    Where our customers are facing loss of business we will consider short term capital repayment holidays on term lending. Interest repayments will need to continue being made throughout the term of the concession. This will enable businesses to meet other payments until the situation reverts to normal.

  2. Fee free temporary short-term working capital funding

    To help customers who are facing cashflow problems due to loss of business arising as a result of the outbreak, we will consider fee free temporary short-term working capital funding.

  3. Faster turnaround on issuance of Shipping Guarantees and waiver of urgency fees

    To help customers experiencing delays in receiving shipping documents from counterparties, the Bank will give issuance of shipping guarantees ‘immediate priority’, as opposed to the standard ‘same-day’ issuance. We will also waive our ‘urgency fees’ in such cases. This means a customer can take transfer or receive goods from their counterparty faster without incurring additional costs.

  4. Waiver of amendment fees on Letters of Credit impacted by delays

    During this period, customers may experience delivery disruptions resulting in the late shipment and late presentation of documents. The waiver of amendment fees on the Letter of Credit (LC) will enable customers to change the terms of the LC to avoid penalty costs when their supplier presents documents under the LC.

We appreciate that all businesses have their particular requirements, so all concessions will be considered on a case-by-case basis. Customers who feel they need support are asked to contact their Relationship Manager who will be able to provide additional guidance on next steps.

Our customers’ needs are important to us and we will continue assessing what further measures we may be able to take as the situation develops and will make further communications where necessary.

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.