Banca Transilvania, as the owner of the majority stake (99.15%) in Bancpost, is announcing a plan for Bancpost customers who have Swiss franc (CHF) loans secured by real estate.

The reduction is 18% for approximately 2,300 Bancpost customers with eligible Swiss franc loans who wish to convert their loans from CHF into lei or euro. The discount will be applied to the current loan balance by reducing the outstanding principal.

The proposed conversion option takes into account movements in the Swiss franc exchange rate in recent years, given that the leu appreciated against it by about 8% in the period May 2015–April 2018.

Details of the offer from Banca Transilvania:

• The offer will be available starting in July this year; BT and Bancpost will provide further details by then. The necessary IT systems are currently being prepared.
• The CHF-to-leu or CHF-to-euro conversion will be carried out at the NBR exchange rate on the date the documentation is signed before a notary public.
• During July this year, eligible Bancpost customers will be contacted and invited to Bancpost branches for a meeting with a joint Banca Transilvania–Bancpost team, where the details of the offer will be presented.

The offer is intended for customers who have outstanding loans at Bancpost and whose contracts were part of that bank’s portfolio at the time Banca Transilvania acquired the majority stake in Bancpost.