Deferment of loans / Banks follow simplified procedures
Individuals and businesses that want to request extension of loan installments can do so with simplified and remote procedures. Most banks announced yesterday that deferral applications can also be made via email or phone. The banks also specified that there would be no need to amend existing contracts, which avoids the need for the client to physically go to the bank to sign.
In their announcements, the banks commit to a return of response within three days, as ordered by the Governor of the Bank of Albania and the Prime Minister.
Clients affected by the coronavirus-induced situation can benefit up to three months of installment extensions, while clients who are not affected by this situation should continue to repay the installments normally. During this period, banks will not count penalties for clients. Credit restructuring will also be supported by changes to the relevant credit risk management regulations for all financial lending institutions, which were approved by the Bank of Albania last week.
The amendments provide that until May 31, banks will not be required to reclassify and restructure loans that will be restructured during this period. This frees banks from costs and facilitates the process of temporary deferral of installments.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.