According to the Association of Romanian Banks, Romanian banks received 7,872 requests for suspension of obligations to pay rates, interest and commissions from both individuals and companies.
Individuals submitted 7,649 requests under the legislative moratorium for 2022, which allows them to benefit from a moratorium on installments for up to nine months, representing approximately 97% of the total, while legal entities submitted 223 requests.
Almost half of the customer requests that met the conditions stipulated by Decree 90/2022 were resolved by August 29, 2022, the rest after that date.
In the first eight months of 2022, Romanian banks continued to apply proactive support measures for customers who have temporary financial difficulties with payment, so the number of solutions based on the banks’ own measures is 16,184. The preventive measures applied by credit institutions benefited 15,547 individuals and 637 legal entities, and the number of clients has doubled compared to the number associated with the application of the legislative moratorium.
About 26,177 natural debtors have chosen to change the ROBOR index using IRCC
Approximately 26,177 individual debtors chose to change the ROBOR index to IRCC in credit agreements in the first eight months of the year in the banks where they initially concluded the loan.
The switch from ROBOR index to IRCC in old lei contracts can be done with the consent of both parties, both the consumer and the bank, and if it happens, it is irreversible. Interest calculated under IRCC is variable, so the consumer can expect the rate to rise due to an increase in IRCC.
Another 1,421 individual debtors applied for a change in the fixed rate ROBOR index in the contract during the first eight months of 2022 also at the credit institution where they originally had the loan. In eight months of the current year, 54,024 individual clients chose to refinance their loan at another bank.
In the conditions of higher than expected inflation and interest rates, customers who experience temporary financial difficulties with loan payments have the opportunity to turn to the lending bank for restructuring measures to avoid loan default.
Source: Hot News RO
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