Romanian lender Bancpost makes EUR 19 mln provisions after new mortgage law
Local lender Bancpost recorded a loss of EUR 800,000 after the first six months of the year. In the first three months, the bank had seen a profit of EUR 4.2 million. However, it later decided to make additional provisions of EUR 19…
Romania Insider · Journalist
· Updated · 1 min read
Local lender Bancpost recorded a loss of EUR 800,000 after the first six months of the year. In the first three months, the bank had seen a profit of EUR 4.2 million. However, it later decided to make additional provisions of EUR 19 million to cover its mortgage loan portfolio, after the giving-in-payment law went into force, reports local Profit.ro. The law allows mortgage debtors who can’t repay their loans anymore to give the mortgaged assets to the bank and discharge their debts. Bancpost’s total provisions amounted to EUR 52 million in the first half of the year. Bancpost’s credit portfolio dropped by about a tenth reaching some EUR 2 billion. The mortgage loans portfolio went down by EUR 8 million at the end of June, compared to the end of March, reaching EUR 725 million. The consumer loans portfolio recorded the biggest decrease of EUR 169 million reaching EUR 359 million. editor@romania-insider.com
