Bank NTT Prepares Two Credit Relief Schemes for Flores Earthquake Victims
Bank NTT has prepared two credit deferment schemes for customers affected by the earthquake on Flores Island. However, to date not a single debtor has submitted an application for this relief.
Chief Executive Officer of Bank NTT, Charlie Paulus, explained that the two schemes were prepared to assist customers affected by the earthquake disaster on Flores Island.
According to Charlie, Bank NTT moved quickly to respond to the emergency situation following the earthquake that struck on 15 August 2026. Bank NTT has also issued an advisory to affected debtors, encouraging them to make use of the schemes to ease the burden on survivors.
“From them, there has been no official request to restructure their credit, but we prepared the programme well in advance — it can be a deferral of principal payments, or a deferral of principal and interest payments,” Charlie explained on Monday (7/9/2026).
Charlie explained that Bank NTT has prepared two options. Debtors may choose either a deferral of principal payments or a deferral of both principal and interest payments.
For the principal payment deferral, the prepared scheme applies for one month. Meanwhile, if a debtor requests a deferral of both principal and interest, it is granted for three months.
“If they request a deferral of principal only, the scheme prepared covers up to one month. Meanwhile, the deferral of principal and interest lasts three months,” Charlie said.
“If they request a deferral of principal and interest without payment, we cannot do it for too long, so we have prepared a three-month scheme,” he added.
Charlie said Bank NTT will continue to evaluate the effectiveness of the scheme. However, if the earthquake’s impact proves severe, the bank is ready to prepare a better scheme.
“Is this effective enough to help them or not? We also do not yet know what the impact looks like. If it is serious, then a better scheme will be needed,” he revealed.
According to him, in disaster situations, loan payment relaxation policies can be introduced either by the regulator or by the bank itself. Bank NTT is currently proactively monitoring and recording data on affected customers’ businesses. Several areas, such as Borong, are said to be among the worst affected by the earthquake.
“But so far they have not submitted any requests, though we have been recording data on affected customers. They have not applied yet, but we have already seen that their business premises are damaged,” Charlie said.
He explained that Bank NTT has a considerable number of customers in the Flores region. However, to date, no customers have applied for the deferment schemes that have been prepared.
“Roughly, we have recorded around 52 or 53 affected customers. But they have not yet applied for the schemes prepared by Bank NTT,” he noted.
Previously, Credit Director of Bank NTT, Aloysius Geong, said that data on debtors affected by the disaster would be reported to the Financial Services Authority (OJK) as the supervisor of the financial industry.
Bank NTT hopes these relief schemes can help ease the burden on the people of Flores as they recover from the impact of the earthquake.