Hong Kong’s banking industry has rolled out a package of emergency relief measures for residents affected by a No. 5 alarm fire in Tai Po, including a six-month repayment grace period on mortgages and other consumer loans, the Hong Kong Monetary Authority (HKMA) said.
The HKMA said it discussed follow-up arrangements with the Hong Kong Association of Banks and 28 retail banks, including digital lenders, after the blaze.
Banks will provide a pre-approved six-month repayment holiday covering both principal and interest for affected residents’ mortgages, personal loans and credit card balances, alongside waivers of related penalties and service charges, the HKMA said.
The industry will also extend branch service hours in Tai Po over the weekend, with participating banks opening from 9 a.m. to 5 p.m. on Saturday and 9 a.m. to 1 p.m. on Sunday, and adding staff to handle local demand.
Banks said next week’s branch schedules may be adjusted depending on circumstances.
Other measures include setting up senior-management-led teams at each bank, launching dedicated 24-hour hotlines and sharing updates through branches, websites and social media, the HKMA said.
Banks will prioritise urgent account matters and the replacement of ATM, debit and credit cards, with flexible collection or delivery arrangements.
Banks also said they would help customers access liquid funds and continue using services even if they cannot present identification or banking documents, by using alternative identification methods.
Lenders will proactively contact customers who bought insurance policies through banks to help them submit claims applications.
The HKMA and the banks’ association expressed condolences to families affected by the fire and said residents can contact their banks anytime for enquiries or special service needs, adding that the industry would continue to provide assistance with flexibility.
The HKMA also urged the public to stay alert to scams, warning fraudsters may exploit the situation by posing as bank staff and seeking personal or account details.
Read More: HKMA, Banks Roll Out Emergency Relief For Tai Po Fire Residents
