Romania Bankers Willing To Rework Loans For Troubled Clients

„Given the existing economic environment, rearranging a loan for borrowers who have difficulties in repaying it represents a worthy alternative to avoid foreclosure on the guarantees submitted,” the Romanian Banks Association (ARB) said in a statement.

ARB said banks look favorably on this solution also when the evolution of the real estate market is factored in, because the asset prices have lowered significantly and so the guarantees cannot be capitalized at prices that will allow the banks to recover their receivables.

However, loan rearrangement will be decided by each bank based on its own internal rules. To benefit from this particular measure, the clients must prove they face difficulties in repaying the loan, ARB mentioned.

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The Association said Romanian corporate clients can benefit from a series of loan restructuring schemes, such as deadline resetting, redistribution, refinancing, new short-term loans, etc.