BCR restructures late-payment loans

Newsroom 14/09/2009 | 15:52

“The restructuring program for personal loans began in April this year. We tried to take a targeted approach towards those clients who made regular repayments and who began to make late payments in October and November last year,” said Coroianu. He added that the bank had divided the customers in question into three main categories: individuals who had lost their jobs, those who had increased monthly debts due to higher interest rates or the exchange rate and those who had seen their earnings fall significantly. “We tried to create tailored solutions for each kind of borrower. We granted a grace period to the unemployed, reduced the monthly installment for those whose earnings were down and tried to extend the loan period for those whose payments had increased,” said the banker. He added that the non-performing credit portfolio was relative stable in value, after a rapid increase in the first seven months of 2009. “We have contacted an average of 15,000-20,000 clients monthly to offer them the opportunity to restructure their loans. I can anticipate that it will be the same rhythm until the end of this year,” said Coroianu.
Anda Dragan

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