OTP Bank Romania signed CHF loans conversion deals for more than 7,000 clients

More than 7,000 clients of OTP Bank Romania have already signed the conversion contracts within the swiss francs (CHF) loans conversion program, after accepting the offers proposed by the bank.

This accounted for 72 percent of the bank’s clients with CHF loans.

“Through the launch of the CHF loans conversion program, we aimed to provide to our customers one of the most competitive solutions on the market. Each client received a personalized offer, according to their type of loan, the year it was granted and the initial interest rate. All these, with the help of our experts from the branch network who were ready to provide all the necessary counseling on CHF loans,” said László Diósi, CEO of OTP Bank Romania.

The discounts applied to the CHF loans’ amounts through the conversion program have made this solution much more preferable for the customers, compared to the possible outcomes of a court case that could mean a longer settlement time frame, additional costs for the customer, as well as the high risk of obtaining much lower refunds or even the potential risk of losses.

There were 879 loan contracts involved in litigations with the bank were converted and, due to this action, the disputes between the two parties were amicably settled. Additionaly, the court has established 386 final decisions for reconciliation of the parties.

For 71 percent of the litigations with the bank, the conversion offer was higher than the amounts obtained through the court.

“The fact that we have such a large number of clients interested in the CHF conversion program proves that we had the right positive reaction to one of the most important needs of our clients. The average discount received by our clients for the converted CHF loans was of 21.2%. It is important to mention that, for the discounts offered within the conversion program, our bank has assumed a financial effort estimated at approximately RON 425 million“, said Constantin Mares, conversion loans program project manager of OTP Bank Romania.