BCR offers lower interest margins to settle with clients

BCR, the biggest bank on the market, is currently in talks to settle lawsuits with individual clients on lending contracts now on the docket, proposing the modification of the interest clause by applying some smaller margins, for instance of 5.5% over six-month Euribor, depending on several criteria. Moreover, if the borrower agrees to the “Additional amicable settlement document”, the bank will no longer demand trial expenses generated by suits on the docket until the document was signed or currently on the docket. “We’re in talks to settle lawsuits with clients and continue business relationships with advantages for both sides. The bank will not demand any trial expenses in case transmitted offers are accepted,” state BCR representatives. Previously, in court, the bank had asked for trial expenses of 100,000 lei from a group of clients. BCR officials specify the financial offers submitted to clients it is fighting in court differ depending on several criteria, including the type of released loan, currency or client payment record. On the other hand, clients accepting the offer commit not to disclose the terms of the additional document.