By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Clearing Banks Association’s (CBA) chairman yesterday said it was “too early” to predict how the economic fall-out associated with the coronavirus will impact the sector’s non-performing loans.

Lasonya Missick, in an e-mailed response to Tribune Business’ question, said: “Right now it is too early to tell what might happen with non-performing loans. The important thing to remember is that if customers are experiencing financial hardship, resulting from impacts related to COVID-19 or otherwise, they are encouraged to reach out to their bank and speak with a representative to discuss which options might be available to them.”

Her comments came as the Association, which represents Royal Bank of Canada, CIBC FirstCaribbean (Bahamas), Scotiabank (Bahamas), Commonwealth Bank, Bank of The Bahamas, Fidelity Bank (Bahamas) and Citibank released its customer guidelines in a bid to combat the coronavirus spread.

The advisory called on Bahamians to reduce their in-branch transactions and instead use digital channels such as online banking and mobile apps, plus debit and credit cards and automated teller machines (ATMs). Telephone banking and call centres represent other points of contact.

“In keeping with the public advisories of local health authorities, the standard practices and steps for personal protection are to be observed when accessing banking services, especially if visiting bank branches,” the advisory said.

The association also urged customers that if they have to visit a branch to make sure to avoid physical contact with others, and to limit contact with surfaces within the public spaces.

The banks are actively working with employees to promote proper hygiene, along with the regular cleaning and disinfecting of commonly-used surfaces and areas in branches.