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.
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