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March 8, 2021

ARB: Banks have solved 83pct of the 317,000 requests from customers to suspend monthly payment obligations

The banks in Romania have solved, two months after the onset of the health crisis generated by the COVID-19 pandemic, more than 83pct of the approximately 317,000 applications submitted by customers, individual and legal persons for the suspension of monthly payment obligations from credit agreements, announced on Monday the Romanian Association of Banks (ARB).

Thus, about 265,000 applications were solved, half of which were based on the Emergency Ordinance 37/2020. The rest of the requests are being processed.

The customers’ demands were based on both the legal framework created by the provisions of the OUG 37/2020 on the granting of facilities for loans granted by credit institutions to borrowers that have been directly or indirectly affected by the effects of the pandemic, and the support measures proactively adopted by the banks since March.

To date, approximately 303,000 individuals and up to 14,000 companies have applied for the suspension of payment of the installments, which represents less than 20pct of the loans granted to individuals and less than 14pct of all loans accessed by legal entities.

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