Rekkers, BT: We are willing to renegotiate SME contracts

BT could reduce monthly payments by SMEs by 50-80 percent for a period of 6 months to one year, but the client will have to provide supplementary collaterals, provided the loan is for real estate.  For rapid loans from the bank’s portfolio, clients may renegotiate monthly payments by covering at least 20 percent of the value of the installment set, for three installments. These may pay the difference of 80 percent of the installment by the due date of the loan. “Romania is going through a difficult time, as is the banking system. We are expecting an increase in loan arrears throughout the banking system, but are willing to renegotiate the contracts and reduce interest for the population and SMEs, if need be.  In the second half of the year, lending will improve, and Romania will overcome the effects of the crisis much faster,” said Robert Rekkers, General Manager of Banca Transilvania. 

In order to qualify for the program launched by the bank, SMEs must not have arrears in excess of 30 days, or debts to the state of over 60 days, and they must have a plan to demonstrate the company’s capacity to rebound. Banca Transilvania has some 150,000 SME clients, of which about 20 percent are lendees.