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Bank of China Srbija,
akcionarsko društvo Beograd

Address: Bulevar Zorana Đinđića 2a, 11070 Beograd

Tel: +381 11 6351 000

Email: service.rs@bankofchina.com

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Notice to Clients of the Bank Regarding Their Right to Receive Benefits in Debt Repayment

2020-12-21

Dear Customers,

Bank of China Srbija, in accordance with the Decision of the National bank on temporary measures for banks in order to adequately manage credit risk in the context of the Covid-19 pandemic, issued on December 15, 2020 offers to all its customers who request this, and who are unable to settle their loan, credit card or overdraft debt regularly, or who have difficulties in settling these debts, to get benefits in their debt settlement.

The following Clients, natural persons are entitled to new benefits:

  • Those which on the day of entry into force of the decision of the National Bank are in a delay longer than 30 days in a materially significant amount on the basis of a loan, credit card and allowed overdraft on their current account;
  • Those who are unemployed persons,
  • Those who in the last three months earned an average net monthly income based on salary or pension that is below the average salary in the Republic of Serbia according to the latest data of the competent authority;
  • whose level of credit indebtedness in terms of the decision governing the classification of balance sheet assets and off-balance sheet items of the bank exceeds 40%, and which in the last three months generated an average net monthly income lower by 10% or more compared to income before March 15, 2020, but where the average net monthly income in the last three months does not exceed 120,000 dinars;
  • If the bank, based on the reasoned request of the client, in accordance with its internal acts, assesses that due to the COVID-19 pandemic there are other facts and circumstances that affected the deterioration of the client's financial position and its proper settlement of its obligations to the bank.

Clients, farmers, entrepreneurs and companies are also entitled to benefits in the repayment of their obligations:

  • Those who in 2020 had a decrease in operating revenues, i.e. turnover of at least 15% compared to the same period in 2019;
  • Those who are on the day of entry into force of the NBS decision in arrears longer than 30 days in a materially significant amount on the basis of credit, credit card and overdraft on their current account;
  • If there has been interruption of business for at least 30 days due to the COVID-19 pandemic;
  • If the bank, based on the reasoned request of the client, in accordance with its internal acts, assesses that due to the COVID-19 pandemic there are other facts and circumstances that affected the deterioration of the client's financial position and its proper settlement of its obligations to the bank.

In order to be able to have a right to new benefits, it is necessary that:

  • on February 29, 2020, as well as in the period of 12 months before that day, the Client was not in the status of default in the bank;
  • on February 29, 2020, as well as in the period of 12 months before that day, none of the Client's receivables on the basis of loans, credit cards and overdrafts on the current account were classified as problematic loans in the bank.

The benefits offered by the bank are reprogramming and refinancing of loans.

Loan reprogramming is a change in the terms of the loan, in such a way as to allow the client a grace period in the repayment of its obligations of six months, during which the bank does not collect receivables based on the principal, but does calculate the agreed interest. The loan is extended in such a way that the amount of annuity (monthly obligations of the client) after the expiration of the grace period, and until the end of the new loan repayment period, is not longer than that amount in the period before the application of this benefit.

Loan refinancing is the granting of a new loan to the client in order to settle all obligations to the bank based on an existing loan, in such a way as to allow the client a grace period of six months, during which the bank does not collect principal obligations, but calculates the agreed interest rate. The new agreed loan repayment period is defined in such a way that the amount of annuity, i.e. monthly obligations of the client after the expiration of the grace period, and by the end of the new loan repayment period is no longer than the period before the application of this benefit.

Other credit products - credit card and overdraft, may be covered by benefits, through granting of a refinancing loan based on these products with a grace period of six months, and an agreed monthly repayment. The repayment period would be extended in such a way that the monthly obligations will not be higher than the monthly obligations that the client would pay for that product.

The request for approval of the benefit in settling your obligations to the bank can be submitted in the following ways, and by adding all the relevant information related to your request:

  • to the email address: service.rs@bankofchina.com
  • in written to the address:

Bank of China Srbija a.d. Beograd
Bulevar Zorana Đinđića 2a
11070 Novi Beograd

As a Client of the bank, you have the right to choose between the offered models of the benefits, i.e. whether you want to pay interest calculated during the grace period during that period or after the end of that period. You can also take advantage of the listed benefits for one or more of your credit products at the bank. More details about this you can get from your adviser in the Bank before the benefit is applied.

Bank of China Srbija a.d. Beograd
December 21, 2020