The bank previously required a down payment of 15% on mortgage loans in lei and 25% on loans in euros, the minimum required down payments under central bank regulations.
“The debt discharge bill changes lending risk profiles and we are forced to take precautions to manage risks,” the bank said.
The debt discharge law, which is pending re-examination in Parliament, the debtor can resort to the payment of the mortgage loan with the mortgaged property if the loan was guaranteed with two or more properties. Lenders have severely criticized the amendments brought to the bill.
Bancpost, owned by Greece’s Eurobank, ranked tenth on the Romanian market by assets in 2014, with a market share of 3.1%.The lender posted a loss of RON102.7 million in the first nine months of 2015 and had a non-performing loan ratio of 16.5%.