Republic Bank’s COVID-19 updates

Weathering this storm with you

Who would have thought that in a few months, simple gestures, such as a handshake or a tender embrace would become taboo? Instead of being close to our friends and family to show how much we love them, we must now physically distance ourselves from them to show how much we care.

Without a shadow of a doubt, COVID-19 has upended our lives in a way that no one could have imagined. Now that the virus has spread to almost every country, infecting over 2 million people, exhausting health care systems and crashing economies, some might say, and rightfully so, that it is too soon to be thinking about life after COVID-19. Sadly, there is no instruction manual or google search to tell us how to deal with our emotions or how to handle a human tragedy of this magnitude, and it is quite understandable that many of us are desperate to regain a semblance of control over our lives. I myself am desperate to return to a sense of normalcy, but like many of you, must remain resolute for those who are within my purview, including my colleagues and you – my extended Republic Family.

WE WILL ALWAYS BE THE ONE FOR YOU

At this time, I would like to underscore our commitment to you as we fulfill our responsibility as your financial partners. In March, we introduced several debt alleviation packages to ease your financial burden, including the 6-month moratorium on all loans, waivers of fees and penalties and the reduction of credit card interest rates. I hope that you utilise the full potential of these liquidity alleviation packages as they have been carefully curated to bring ease and assurance to you during these uncertain times. Once the cashflow demands have been ameliorated, let us begin talking about the medium to long term solutions to accommodate your future success. Please email your branch or account manager as early as practical for you.

Part of our mandate has always been to exercise our corporate social responsibility and provide aid to the communities we serve, and while we have expressed our commitment to our clients in overcoming their economic challenges, we also understand the social challenges being faced by the population and the dedicated frontline and health care workers. Recently, we announced that our parent company, Republic Financial Holdings Limited, approved the contribution, equivalent of US$2million, to be shared collectively across all the territories in which it maintains its operations.

ENSURING SERVICE CONTINUITY

While we recognise our critical role in ensuring that essential services remain unaffected, we have made the difficult decision to reduce our branch footprint and services in the best interest of our clients and staff, but assure you that we remain operational to better serve you and satisfy the exceptional customer service you’ve grown accustomed to. I encourage everyone to use this opportunity to join our RepublicOnline community by signing up now at republictt.com. We have simplified the signup process to have the entire transaction completed without leaving the comfort of your home.

While we await guidance from the experts, we will continue to provide assistance, be it financial or otherwise to those we have been entrusted to serve. I trust that you and your family are staying at home and staying safe during these perilous times, and following the guidelines set out by those who are charged with the responsibility of securing our safety. Remember, this too will pass!

On behalf of the Republic Family, our thoughts and prayers are with you all.
#StayHomeStaySafe
#WeAreTheOneForYou
#WeAreStrongerThanOurFears
#WeWillBounceBackTogether

Sincerely,
Nigel Baptiste
Managing Director

At Republic Bank your health and well-being, and that of our staff and communities, are always our main priority. In light of the current COVID-19 pandemic, we assure you that we remain committed to providing the banking services you need in the safest environments possible.

Following the guidelines outlined by the Ministry of Health and the World Health Organization, we have increased the sanitization of all high-traffic touch points at our branches.

As we each do our part in limiting the spread of the Covid-19 virus and in line with the urgings of the authorities around social distancing we request that customers consider minimizing their visits to the bank’s branches where possible by:

• Utilizing the Bank’s digital and electronic channels
• RepublicOnline
• RepublicMobile
• ATMs
• Using your debit and credit cards at Point-of-Sale terminals instead of cash
• Avoiding banking halls if you have flu-like symptoms, contact us at 625-4411 to find out how we may facilitate your banking needs via telephone
• Postponing transactions if not critical

We encourage you to continue to observe the recommended hygienic practices to help prevent the spread of the virus; and to be mindful of those who may be more vulnerable around you. By observing these practices, you can help protect yourself, your family and your community.

Thank you for your understanding.

Sincerely,
Nigel Baptiste
Managing Director

In our ongoing efforts to ensure the health and safety of our customers and staff, we have adjusted our banking hours.

Non-Mall Branches:
Monday to Thursday - 8:00 a.m. - 2:00 p.m.
Friday - 8:00 a.m. - 1:00 p.m. and 3:00 p.m. - 5:00 p.m.

Mall Branches:
Fridays ONLY - Monday to Friday - 10:00 a.m. - 5:00 p.m.

We encourage you to continue practicing the assigned health and safety protocols to stem the spread of COVID-19.

We also remind you that our RepublicMobile App, RepublicOnline, Cardless Cash and Blue Machine ATM services are quick and convenient ways to complete your financial transactions.

• Debt restructuring will be considered on a case by case basis.

• Debt restructuring will be considered on case by case basis.

• Prime lending rate reduced by 2.25% from 9.75% to 7.50%, effective March 23, 2020.