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OTP Romania extends timeframe of Swiss franc conversion scheme

Initiatives

OTP Bank Romania is extending by one month its three-month-long Swiss franc loan conversion program, OTP Bank Romania CEO László Diósi said today, according to Hungarian news agency MTI.

OTP Bank Romania is offering a partial cancellation of debt and lower interest rates to more than 10,000 of its clients if they convert their Swiss franc loans to Romanian lei or euros.

So far, 8,500 clients have expressed interest in the program, 5,000 have formally asked to participate and 3,000 have signed conversion contracts. OTP has offered CHF 30 million in debt relief to clients already participating in the program.

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