Romanian lender Banca Transilvania makes offer to Bancpost’s CHF debtors

Banca Transilvania has made an offer to Bancpost clients with mortgage loans in Swiss Francs CHF who want to convert their debts into local currency RON or euro. Banca Transilvania will reduce by 18% the current balance but only after recovering all overdue payments. Bancpost will cover the conversion costs and the debtor will cover any costs related to the real-estate guarantee if its judicial status changed compared to the mortgage date. After the conversion is made, the debtor becomes a client of Banca Transilvania with the new loan. Some 2,250 Bancpost clients are eligible for loan conversion. The offer will be active from July 2 until August 31. Banca Transilvania took over Bancpost from Greek group Eurobank at the beginning of this year. The bank carried out a similar loan conversion program in 2015, after it took over Volksbank Romania. Over 14,000 Volksbank clients converted their loans then. editor@romania-insider.com