Romania’s biggest lender announces support measures for clients affected by COVID-19 epidemic

Banca Transilvania, the biggest lender in Romania by assets, announced on Tuesday, March 17, several support measures for companies and individual clients affected by the COVID-19 epidemic.

Thus, small and medium enterprises (SMEs) and companies financed by Banca Transilvania can ask that their monthly installments are reduced by up to 100% in the next six months, in justified cases and based on an analysis of the immediate and medium-term impact.

Moreover, the bank will ask clients to provide only minimal documentation when they ask for such facilities, so as to avoid bureaucracy and going to the bank.

“Banks can play a significant role in spreading socially and economically responsible behaviors. Together with the Government of Romania, the National Bank of Romania, and the big private companies in the economy, we can take the initiatives that the company needs. In addition to the support measures that will be implemented, Banca Transilvania will fold on the support plans of other banks in the case of common clients, where BT is not the main bank because in this way a larger number of Romanian companies can be supported,” said Banca Transilvania CEO Ömer Tetik.

Banca Transilvania’s individual clients who have temporary difficulties in paying the installments on their loans will also be able to ask the bank to defer up to three such monthly payments. Clients confronted with financial problems due to medical problems, quarantine, isolation, or because of the economic-financial situation can contact the bank to find the most suitable solution for every case.

(Photo source: Bancatransilvania.ro)