Procedure for deferring liabilities to banking institutions
BDB Group is ready to support its clients affected by the COVID-19 crisis by offering them specific actions and a mechanism to facilitate the servicing of their loans. The Bank has joined BNB's Order for Deferral and Settlement of Liabilities to Banks and their Subsidiaries – Financial Institutions in Connection with the State of Emergency Announced on March 13th, 2020 by the National Assembly due to the COVID-19 Pandemic.
Any client who is experiencing, or expects to experience, difficulties because of the pandemic and who has regularly repaid their loan or been in arrears for no more than 90 days as of March 1, 2020, will be eligible for such deferral. The deferral procedure is available for all borrowers, whether individuals or entities, who will be able to make use of the so-called grace period of their loans and request a deferral of principal and interest payments or a deferral of principal payments only. For a period of up to 6 months, but no later than December 31, 2020, borrowers will not owe payments on their loans and will have the option of not paying principal and interest or only principal.
Our clients will have time to decide whether they need more flexible loan terms and submit a deferral application by June 22, 2020.
Detailed instructions about the required documents and how to enter the procedures will be available on our website soon.Back