Špirić: Banks must be solidarity with citizens

Banks must be solidarity with citizens, but they will have the freedom to assess the extent of damage to their clients themselves, said Nikola Špirić, Minister of Finance and Treasury of BiH at today's press conference after the BiH Financial Stability Committee, writes the BiH news agency Patria.

- Interest rates for housing loans must be lower, this is not a policy against banks, but in no case can they behave as if there were no natural disasters. We will see how banks will relate to these recommendations of ours - said Špirić.

Špirić also said that domestic companies should have priority in the reconstruction process, and that "the state defends itself both in war and in natural disasters".

- This situation requires extraordinary behavior from all levels of government, but all in accordance with the law - said Špirić.

Director of the Banking Agency of BiH, Zlatko Barš, said that clients with credit obligations will have to submit documentation of damages to the banks, so that the banks can meet them halfway, because "they will not be able to repay loans anyway".

- A client who cannot pay a loan is a burden to banks, which is why these measures of moratorium and loan reprogramming should be considered - said Barš, writes Patria.

Mijo Mišić, secretary of the BiH Banks Association, pointed out that there had already been discussions about moratoriums and loan restructuring, and that it is in the banks' interest to remedy the situation of their clients.

- It is necessary to act interventively with the most affected clients. Banks' investment in clients is an investment in the future. When these decisions are announced, then the banks will take a position on them - said Mišić.

He said that each bank has its own policy and that it is good that there are no linear measures, but that the framework for determining moratoriums for clients should also be clearly defined.