Kissing: We spent over 15 million to solve the CHF loan problem

Bosnia and Herzegovina is the only country in the region where the problem of Swiss franc loans has not yet been resolved. In previous months, users of these loans who claim to have been harmed, that they have repaid the loans many times over, have held protests in front of Addiko bank branches several times.

Ulrich Kissing, President of the Management Board of Addiko Group, spoke about solving this problem, the conversion and write-off of CHF loans, for N1 in an exclusive interview.

- It has been more than a year since the rebranding when the bank was bought by Advent International and EBRD. We have changed our strategy and are focused on the population and clients and on doing business with legal entities, especially with small and medium-sized enterprises. What we want is to have simple and fast banking. We see that it is paying off. Clients recognize our efforts. It is visible. It can also be seen that all banks in BiH are becoming profitable. We are back in business and are confident about the years to come - said Kissing.

He explained that they inherited the problem of Swiss franc loans when they bought the bank, and as soon as the new management was established, they started dealing with the issue.

- Historically, there are 12,000 such loans in BiH. We have offered these clients an attractive solution with discounts of 30 to 50 percent depending on the category of people. Now we have 816 clients left with CHF loans. Hypo spent a lot of money on this problem.

I don't know where the data of the Swiss Association comes from. Parliament has asked the regulator to check the number of clients. These are verified figures, so I don't know where the representatives of the Swiss Association got such data from - added Kissing.

He also explained what conversion means:

- Conversion means that we convert CHF loans with a fixed interest rate and then write off 30 or 50 percent of the amount, thereby reducing the burden and the installment. We really had a strong desire to solve this problem and spent over 15 million to solve it - added Kissing.

He also pointed out that the adoption of a law on this problem is not good, as it can deter investors from BiH.

Watch the full interview here