KUALA LUMPUR: Car owners are welcomed to restructure and extend the repayment period of their bank loans during the economic slowdown, said CIMB Group chief executive officer Datuk Seri Nazir Razak.

"Until today, RM200mil (S$84.3 million) worth of car loans have been restructured," he said after giving away Deepavali hampers to 65 underprivileged families in Sentul yesterday.

Nazir said banks should step up their corporate social responsibility, especially when the people were facing a sluggish economy.

"When banks are competitive in CSR, it is the people who will benefit," he said in his speech.

The bank's non-profit organisation CIMB Foundation together with HOPE Worldwide Kuala Lumpur organised the gathering.

Since its inception last year, the foundation has launched 116 community projects nationwide with another 71 in the pipeline on a budget of RM6.3mil.