PRESS RELEASE

PRESS RELEASE

INTESA SANPAOLO BANK ALBANIA ANNOUNCES

“THE STANDARD MORATORIUM EXIT SOLUTIONS PACKAGE”

for Individuals and Legal Entities affected by COVID-19 Crisis aimed to provide support and financial relief to Albanian Economy

“WE CARE FOR WHAT YOU CARE ABOUT” #AlwaysTogether

Tirana: July 10, 2020: Intesa Sanpaolo Bank Albania is glad to announce and share the package of Standard Solutions to be offered to all the Customers that have applied for Loans Moratorium. The Bank encourage all the interested subjects to timely contact their Relationship Managers in order to agree on the chosen solution and to finalize the deal before the end of the Moratorium period. Intesa Sanpaolo Bank reminds that no any costs, fees will be charged to the applicants and commits itself to provide the utmost attention to the customers’ needs.

The Board of Directors of Intesa Sanpaolo Bank Albania taking these decisions, being fully aware of the critical role the Bank plays in the Country, intends to strongly support the whole Albanian Economy in its effort to overcome this unprecedented crisis. In this endeavor the Board was also inspired by similar decisions taken in Italy and in the other Countries where Intesa Sanpaolo Group has operations. 

Hereinafter the offered Standard solutions, with reference to the main typologies of Loans, among which the customer could choose:

INDIVIDUALS (Mortgage Loans and Consumer Loans):

1. Extension of 6 months of the original repayment period, postponing all the suspended installments at the end; up to the Customers to choose a shorter extension. (Basically, the monthly installment will stay almost the same like in the past);
2. Redistribution of the suspended installments along the original repayment period (this way the monthly installment will increase compared to the past, but marginally for long term loans);
3. Bullet repayment of the suspended installment in one only solution at the end of the original loan maturity. 

While all the above-mentioned solutions imply an automatic approval process, should the Customers require a different customized plan, an ordinary credit application is required.

LEGAL ENTITIES:

Term Loans:

1. Extension of 6 months of the original repayment period, postponing all the suspended installments at the end; up to the Customers to choose a shorter extension. (Basically, the monthly installment will remain substantially the same like in the past);
2. Redistribution of the suspended installments along the original repayment period (this way the monthly installment will increase compared to the past, albeit only marginally for long term loans);
3. Bullet repayment of the suspended installment in one only solution at the end of the original loan maturity. 
4. Possibility to ask for Grace Period until September 30^th 2020 and at the same time to choose one of the above options under 1), 2), 3);
5. Possibility to ask for Grace Period until December 31^st 2020 for Principal Only (therefore paying the Interests starting from September) and at the same time to choose one of the above options under 1), 2), 3). This option will be available for customers whose revenues have been severely impacted by Covid-19 crisis.

OVERDRAFTS:

1. To all customers having Overdraft Facilities expiring until August 31^st, a further extension until October 31^st, 2020 will be granted. Thus, in order to proceed with the ordinary   renewal process based on the updated official 2019 Financials;
2. Possibility to repay the Interests matured under the Moratorium period until December 31^st, 2020

TOURISM PACKAGE:

1. Legal Entities operating in Services connected to Tourism (e.g. Tour Operators, Travel Agencies, Taxi): Extension of the Moratorium period - for the Principal Only – up to September 30^th, 2021;
2. Legal Entities operating business facilities in touristic areas (e.g. Restaurants, Agro- Tourism): Extension of the Moratorium period - for the Principal Only – up to September 30^th ,2021;
3. Legal Entities managing Hotels and other accommodation facilities in Touristic Areas (Tirana included): Extension of the Moratorium period – for Principal only -  up to September 30^th , 2021;
4. Legal Entities managing Hotel and other accommodation facilities in Touristic Areas (Tirana included) that were under construction/refurbishment during the Covid-19 crisis: Extension of the Moratorium period – for Principal only - up to September 30^th, 2022.

For all the all the above-mentioned solutions the Bank will require a minimum set of documents aimed to support the requests.

Intesa Sanpaolo Bank Albania Sh.A Invites all the Individuals and Legal Entities affected by the COVID.-19 situation, part of Moratorium, are kindly asked to contact the bank in order to identify the suitable option.  

Individual Customers:

• Contact directly your Branch Relationship Manager to communicate your preferred option or
• Send by your preferred option to Moratorium@intesasanapaolobank.al

Legal Entities (Small Business, SME, Corporate, Multinational Companies)

Contact directly your Relationship Manager

Customers whose economic situation is no longer impacted by the COVID-19 situation should continue their regular loan repayments.

Intesa Sanpaolo Bank Albania will evaluate all the received applications, timely providing the due feedback. In this endeavor, to overcome the current critical situation, Intesa Sanpaolo Bank commits itself to pay the outmost attention and care to its Customers’ needs, also deploying significant human resources. All processes are aimed to be finalized remotely using digital resources as to minimize physical contact and presence in the Branches to protect our employees and customers.

Intesa Sanpaolo Bank Albania, part of Intesa Sanpaolo Group, will continue to offer multiple solutions to the borrowers (both Individuals and Legal Entities) in need. These solutions take into consideration the real need of the different cluster of Borrowers and is meant to accompany them in the recovery phase.