Financial and business news from Bulgaria

Dimitar Radev: Bank loans can be deferred

Depositors need to know- their money in a safe place
The European Banking Authority will approve guidelines and criteria on which measures to be applied to bank loans, with the basis for introducing a targeted and temporary moratorium to postpone or suspend bank loan payments - postponing payment of bank loans, according to Nova TV Governor of BNB Dimitar Radev

In his words, our banking system is stable. “Depositors should know that their money is in a safe place and borrowers - that they can rely on rescheduling contributions and interest,” Radev added.

He added that the banking sector is ready, especially if we talk about a 3-6 month horizon to announce relief for borrowers.

Radev added that in recent years our banks have undergone extensive checks, which included an assessment of the quality of their assets.

According to Radev, people who have mortgage loans should talk to banks.

"This is the objective of the regulatory measures implemented by BNB — to provide additional opportunities for flexibility to commercial banks in their approach to customers, so that they do not fall into a more difficult situation in terms of capital adequacy or credit risk, Dimitar Radev summarized.