Update [March 31, 2020]:

The Emergency Ordinance on deferring loan repayments at banks was published today in the Official Gazette, and we are awaiting the implementing rules. Until then, the measures already announced by our bank remain in force, and customers can benefit from them. 

March 27, 2020:

Dear customers,

The Government of Romania approved yesterday, via an Emergency Ordinance, a set of additional measures to protect borrowers facing hardship in the current environment.

The new measures come on top of those already announced by BT (deferring loan repayments for up to 3 months, at no extra cost, for individual customers, and deferring payments for up to 6 months for SME customers) and provide, on request, for the deferral of instalments, interest and fees for up to 9 months for customers affected by the current context, but not beyond year‑end. Our program continues. We are assessing how these initiatives — BT’s measures and those of the government — can run in parallel, depending on customers’ choices, or complement each other.

Our bank welcomes the government’s recent decision, as well as the decisions announced a few days ago by the National Bank of Romania (BNR), to support Romanians — both individuals and entrepreneurs — with broad, uniform measures to be applied by all financial institutions.

At the moment, we — Banca Transilvania, the companies in the BT Financial Group, and the other financial institutions — are waiting for the implementing rules to be published. As they are published, we will inform you immediately and directly about the steps to take in order to benefit from the deferral, if you are affected by the situation. We are ready to implement the measures established by the Government quickly.

Until the implementing rules are published, the measures announced by BT remain in force and you can benefit from them.

Thank you, and all the best.