DBS SME Banking | DBS SME Banking Hong Kong

DBS gives full support to SMEs

Repayment of Trade Facilities Deferred for Another 90-day Period

DBS gives full support to SMEs

Repayment of Trade Facilities Deferred for Another 90-day Period

We stand by you as always

Dear Customer,

At DBS, we strive to put our customers first and support our community. In these times of uncertainty during the COVID-19 outbreak, we continue to be here for you, our customers.

To address your most urgent cashflow needs, we have rolled out a range of relief measures including SME Financing Guarantee Scheme and principal repayment holiday for Term Loans and Import Trade facilities, etc. To minimise your need to physically visit our branch, we have also rolled out contact-free banking options including online application of internet banking services, online loan applications and trade financing processes digitalisation. To support your needs to continuously upskill yourself, our BusinessClass SME engagement platform will soon launch a series of free online academy training and content to share the latest tips and insights. As the “Safest Bank in Asia”, we encourage you to stay home & bank safe.

We recognise that this is an uncertain and challenging time for all of us and rest assured that DBS will continue to support you every step of the way. As we look forward to a brighter future, stay safe and healthy.

Yours sincerely,

Alex Cheung
Managing Director and Head of Institutional Banking Group
DBS Bank (Hong Kong) Limited

Latest updates on HKMA PPPHS

HKMA Press Release on Trade Finance Repayment deferred for another 90 days (15 July 2021)
HKMA Press Release on Trade Finance Repayment deferred for another 90 days (29 January 2021)
HKMA Press Release on Six Month’s Extension (2 September 2020)
HKMA Press Release on Trade Finance Repayment deferred for another 90 days (5 August 2020)

Customer Stories

Temporary Funding Solution from DBS Helps Bright Diva Int’l Ltd Procure Crucial Anti-epidemic Supplies

Amid the COVID-19 outbreak, Bright Diva Int’l Ltd, a DBS SME client, sought to do its part to support the local community.

Leveraging its vast supplier network, Bright Diva procured approximately 500,000 surgical masks from Korea and sold them at cost to major local retailers. In addition to bringing crucial supplies to the people of Hong Kong, the company also donated part of the proceeds to the Hong Kong Cancer Fund. To give the city a further boost, Bright Diva is currently importing USD 4 million worth of sanitising supplies, including rubbing alcohol, antibacterial handwash and bodywash.

Bright Diva also partnered with Unilever to import products by LIFEBUOY, a British personal care brand with over 120 years of history. These are now available at over 3,000 retail locations across Hong Kong, further easing local demand.

DBS provided a temporary funding solution at preferential interest rates to support these procurement activities and help bolster the local stock of crucial supplies like surgical masks and disinfectant and antibacterial products. Anup Agarwal, CEO and founder of Bright Diva, commented, “It is thanks to DBS’s timely funding solution that we had sufficient funds to import surgical masks in bulk at such short notice. We will continue working with DBS to support Hong Kong citizens during this epidemic.”

DBS Restores Disinfectant Supplies by Offering an Added Loan Amount

Supplies like sanitary masks and disinfectant products have been in urgent demand ever since COVID-19 broke out. To support the community in the fight against the epidemic, Zhuhai Long Success Chemical Industry Co. Ltd. sought to increase its production of isopropanol, which is an exceptional disinfectant. Despite pooling its resources, it remained unable to meet the staggering market demand.

Understanding that time is of the essence, the DBS Guangzhou Branch offered a temporary added loan amount to help the manufacturer increase its isopropanol production to stabilise the market’s supply. Through seamless collaboration, the DBS teams delivered the funds in just three days, from initial negotiations and application to approval.

Edmond Wong, a representative from the DBS Guangzhou Branch commented, “DBS stands with the community in the fight against the virus, and SMEs can rely on our solid financial standing. We approved and arranged the funds in just three days, displaying a remarkable degree of efficiency. It’s a huge boost to our anti-epidemic efforts!”

DBS Relief Measures and Support

DBS Hong Kong 13 Feb 2020 announced that it will introduce a range of special relief measures to help small-and-medium sized (SME) businesses to address their most urgent cashflow needs in these challenging times.

Term Loans: Principle Repayment Moratorium for Up to 6 Months
This measure aims to relieve pressure of making monthly installment covering business mortgage and taxi, public light bus loans.

Import Trade Facilities: Maturity Extension for Up to 60 Days
This will act as immediate cashflow support for businesses coping with supply chain disruptions.

SME Financing Guarantee Scheme (SFGS): Special offer
To provide additional support to SMEs, DBS Hong Kong offers successful SFGS applicants

loan set-up fee waiver;
account opening fee waiver for new customers; and
maximum 50% rebate of the guarantee fee in the first year up to HK$50,000.

Supporting Efforts to Curb Infections
DBS Hong Kong offers flexible funding facilities and interest rate concessions, to customers involved in the production or procurement of relevant medical resources. Customers can contact their Relationship Managers for further discussions.

Digital Banking Anytime and Anywhere
With DBS Hong Kong’s comprehensive suite of digital banking tools, customers are able to take care of their banking needs, including DBS Online Account Opening for Business and loan applications, without visiting our branches in person.

Exclusive COVID-19 cover by Chubb

Enjoy COVID-19 coverage to help our customers and their employees tide through this period with employees’ compensation insurance (provided by Chubb Work Guard Policy and Chubb Enterprise Guard Policy)

COVID-19 extension

Additional benefit of HK $3,000 per employee with a confirmed diagnosis of COVID-19 (contracted during the course of work and incidental to their employment), subject to HK$15,000 maximum per policy

Work From Home extension

Indemnify your full time employees against bodily injury and death in respect of clerical work undertaken in the course of their employment when they are requested or permitted to work from home

No additional underwriting information and/or premium is required until policy expiry. Upon policy renewal, if the extension is still required, underwriting information and additional premium will be applied to the policy.

If you have any questions, please call our DBS Chubb Insurance Service Hotline at 3191 6618 for more information.

Terms and Conditions apply to the above insurance benefits.

Important Notes

The above insurance plans are underwritten by Chubb Insurance Hong Kong Limited ("Chubb"). Chubb reserves the right of final approval. DBS Bank (Hong Kong) Limited (the "Bank") is an licensed insurance agency authorised by Chubb.
DBS Chubb Insurance Service Hotline is a dedicated enquiry hotline for DBS customers serviced by Chubb.

“Just as we did during SARS in 2003, DBS Hong Kong is extending our full support to SMEs, with comprehensive relief measures to help our customers overcome the current challenges. DBS Hong Kong is standing by our SMEs and the community in the fight against the COVID-19 outbreak.” Alex Cheung, Managing Director and Head of Institutional Banking Group, DBS Hong Kong, said.

DBS Hong Kong will continue to support our customers with relief measures during this challenging time and will announce additional measures in due course.

Remark: Please note the above relief measures are subject to review and approval by the Bank.

DBS gives full support to SMEs

DBS gives full support to SMEs

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