Karlheinz Dobingg: Raiffeisen Bank begins applying moratorium on loans

SARAJEVO, (Patria) - Karlheinz Dobingg, President of the Management Board of Raiffeisen Bank, speaks in an interview about the loan moratorium, procedures and rights related to it, pension payments, and the operations of Raiffeisen Bank in BiH. 

Currently, one of the very topical issues is the moratorium on loan repayment. What are Raiffeisen Bank's activities regarding this matter?

Dobingg: These are uncertain times when everyone is giving their maximum to overcome the current situation, and we are also making maximum efforts to make doing business with the Bank as easy as possible for our clients and to alleviate the financial pressure they are facing. Therefore, the application of decisions by banking agencies is extremely important to us in order to help clients overcome this challenging period and establish a sustainable business model. The Bank may approve one or more special measures for clients whose creditworthiness has deteriorated, or whose repayment sources have decreased.

We always strive to be a fair and reliable partner to our clients, and that means not only in good times but also in difficult periods when everyone in their segment must reorganize and make maximum efforts to overcome this period. The Bank has already begun approving temporary moratoriums as one of the measures provided for by the decisions of the entity Banking Agencies, and has started sending offers to clients whose requests have been approved.

Can you explain what clients need to do to have their repayment eased?

Dobingg: First, clients need to submit a Request for approval of special measures to ease the servicing of obligations to the bank. In order to minimize the need for clients to travel, the Request is available on our website, and clients can submit it online from the safety of their homes. It is necessary for the client to state in the request the reason why their creditworthiness has deteriorated. The next step in the process is the Bank's review of each individual request and the decision on the most appropriate modality for resolving the new situation. If the request is approved, the Bank will send the client an offer via e-mail, SMS, or Viber message.

What I would like to emphasize is that in our effort to facilitate clients' access to information, and following the principle of transparent and open communication, we have created a special section on our website where they can find more details regarding the application process, as well as other current information.

What does a temporary moratorium entail and under what conditions is it approved?

Dobingg: A temporary moratorium is a deferral of principal and interest payments with a maximum duration until the declaration of a state of 'Natural or other disaster in the territory of Bosnia and Herzegovina' is lifted.

During the temporary moratorium, the calculation of default interest is suspended. Also, during this period, the Bank will 'freeze' the payment of installments, both principal and interest, for clients who are granted a temporary moratorium. 

Are your clients already interested in the moratorium, and are you accommodating them?

Dobingg: Certainly, through our official communication channels, we are already receiving inquiries from clients regarding the moratorium. So far, more than 5,500 clients have submitted their Requests, and the Bank strives to respond to every incoming request as quickly as possible via e-mail, Viber, or SMS message. 

In addition to the moratorium, pension payments were also a topical issue in the past period. How did Raiffeisen Bank accommodate its clients who were unable to collect their pensions? 

Dobingg: We have also paid special attention to this segment of the population and have tried to make it as easy as possible for them to collect their pensions during the pension payment period. Although, in accordance with the decisions of the competent entity bodies, pensioners were allowed to visit Bank branches during specific times, there were also pensioners who were unable to come to a branch. In that case, an additional option is for another person (authorized representative) to collect the funds on their behalf, about which clients were informed through our official communication channels. This option applies to both pensioners and clients who are in isolation with movement restrictions.

How do Raiffeisen branches operate during the pandemic? 

Dobingg: Our absolute priority is the health of employees and clients. Therefore, we adhere to the measures of the competent institutions and strive to react as quickly as possible. We regularly monitor the situation and carry out activities in accordance with our action plan for such situations. Of course, all with the aim of minimizing the risk of infection for both employees and clients. If necessary, we close branches, send employees into isolation, and carry out all necessary disinfection procedures. This approach, with zero tolerance for health risks, is proving to be correct. Also, we promptly inform our clients about changes in branch working hours and activities that the bank is implementing in this situation through our website www.raiffeisenbank.ba, as well as other media. 

Do you have any further advice for your clients?

Dobingg: In the current situation, we recommend that clients minimize their movement and visits to Bank branches, as well as social contacts, and use Raiffeisen digital services for transactions with the Bank as much as possible. For all necessary information related to business, we are available to clients through our communication channels - web chat, Web call service, or Contact Center. When paying in stores, we recommend using cards more often to minimize contact with banknotes, as a potential source of infection. If clients need cash, they can use the Raiffeisen network of about 280 ATMs, which are regularly replenished, while deposit and withdrawal machines are available for deposits.