The number of debtors with Swiss francs loans, down by 20 pc last year

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Number of persons taking loans in Swiss francs (CHF) from banks declined last year by 20 percent to 60,429 from about 75,000 at end-2014, National Bank of Romania (BNR) data show.

At the same time, the balance of loans decreased by 21.4 percent, from RON 9.8 billion in July, to RON 7 billion, after 17,400 loans benefited of conversion.

Moreover, some loans have matured or the banks have divested their CHF-denominated loans portfolios and the drop would have been more pronounced if some credit institutions would not have bought 12,000 loans transferred in the past. According to BNR data, 11,500 loans were restructured.

Last year, of the 17,400 converted loans about 14,700 were turned from Swiss francs into Romanian lei (RON) by Banca Transilvania for the loans taken from Volksbank, with discount.

“In 2015, 27,000 CHF loans were successfully renegotiated between customers and banks. This means that a third of the stock of loans in Swiss francs, but we believe that the mainstream solutions, which aim to intervene retrospectively in the credit agreements, are affecting the stability and predictability,” BNR Deputy Governor Liviu Voinea said in a press conference.

CHF loans decreased their share in GDP last year to 1.1 percent from 1.4 percent at the end of 2014. However, their contribution to total of non-government credit is shrinking, representing 3.4 percent – RON 7.7 billion.

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