OTP Bank Romania offers preferential conversion option to CHF loan holders
jessica fejos
OTP Bank Romania has offered partial debt cancellation and lower interest rates to its more than 10,000 Swiss franc loan holders if they agree to convert their loans to Romanian lei or euros at the daily exchange rate, OTP Bank Romania said today.
As part of the three-month conversion program, 80% of the 10,500 Swiss franc loan holders could have their principal debt cut by between 17.5% and 25%, resulting in a 20% reduction in installment payments compared to last December (prior to the January increase in the Swiss franc exchange rate) with interest rates lowered to the current RON or EUR interest rates.
OTP Bank set aside provisions of HUF 30 billion for the conversion program in the third quarter.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
