Settlement, conversion affects more than 400,000 Erste loans
The settlement of compensation due under borrowers relief legislation and the conversion of retail FX lending stock into forints affects more than 400,000 Erste Bank's contracts, the lender's deputy-CEO said today.
László Harmati said the bank sees the settlement and conversion as an opportunity to grow its retail lending business.
He added that the bank would offer borrowers ineligible for the FX conversion under the law the chance to convert their loans at a favorable exchange rate.
Hungarian lenders are in the process of refunding borrowers for making unilateral changes to contracts and using exchange rate margins when calculating repayments on FX loans. They are also converting their retail FX lending stock into forints.
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