Dear Clients,
ProCredit Bank has put in place special measures for Bank clients who have been directly or indirectly affected by the adverse consequences of the floods in October 2024, with the aim of facilitating their subsequent recovery and mitigating the negative economic impact caused by these extraordinary circumstances.
Special measures the Bank may grant include:
a) Moratorium—a deferral of loan repayments with suspension of interest and additional fees on outstanding principal during the moratorium period;
b) Grace period of up to 12 months for principal repayment on loans repaid by annuity;
c) Extension of the final repayment date for annuity-repaid loans;
d) Extension of maturities for bullet-repayment loans—including revolving credit lines and overdrafts on transaction accounts—for up to six months, during which clients may continue to draw on any unused portion of their exposure as of the modification date;
e) Additional liquidity exposure, to help clients overcome their current cash-flow difficulties;
f) Other relief measures aimed at easing clients’ debt servicing, supporting their recovery, and reestablishing a sustainable business model. No fees or charges will be applied by the Bank for arranging these special measures or for modifying existing exposures.
Who is eligible?
These special measures are available to individual and corporate clients who meet all of the following conditions as of September 30, 2024:
- Their place of residence or business is in a municipal, cantonal, or entity area in Bosnia and Herzegovina officially declared affected by the floods;
- They have experienced a deterioration in creditworthiness or a reduction in income sources that makes—or will make—it impossible to meet their obligations to the Bank;
- They have provided adequate proof of direct or indirect flood damage;
- They are not more than 90 days past due on any material obligation to the Bank.
How to apply
Clients (individuals and/or legal entities) must submit a written request for special measures by no later than December 9, 2024. Requests must include documentation evidencing flood impact (direct or indirect).
- For individuals, suitable proof may include:
- Evidence of residence in an affected area and a clear statement of how the floods have impacted you;
- Photographs of the damage;
- Employer certification of reduced income or other employer-initiated measures affecting your earnings or loan repayment;
- Other relevant documentation (e.g., civil-protection orders).
- For legal entities, suitable proof may include:
- Evidence of the company’s premises in an affected area;
- Documentation of direct damage (assessments, photographs) and consequential losses preventing normal operations;
- Evidence of indirect impact—such as loss of sales or revenue (VAT filings, internal and audited financial statements, account statements), delayed receivables (account statements, customer/supplier contracts), transportation disruptions (customs documents, invoices), etc.
The Bank will define an appropriate package of the above measures to help each client restore a sustainable business model and meet their obligations in the coming period.
For additional information, please contact us at 080 020 040 or visit your nearest ProCredit Bank branch.
Sincerely,
Your ProCredit Bank
