The Romanian Commercial Bank implements a comprehensive protection and support program for companies and individuals affected by the COVID 19 epidemic. The measures aim to support the economy and jobs, as well as to provide concrete options for credit adjustments, along with a number of solutions to ensure fast and efficient remote banking assistance.

BCR will support its clients and encourages those with urgent reasons for restructuring their loans loans, especially cases of job losses, to address the bank responsibly. BCR advises customers during this period with personalized solutions, so as to avoid future excessive indebtedness or other negative consequences in the Credit Bureau. The solutions of the bank, considered with responsibility and prudence, will be adapted to the situation of each client, including clients who, for objective reasons, have not been able to contact the bank in time.

Private Individuals

For individual customers, who transact with BCR, the bank offers deferred payment obligation on credit cards and overdraft for 3 months. After this period, customers will resume payments of the balance (principal and interest). The solution implies that the interest rate still runs and shall be deffered.

For individual cases affected by the epidemic situation, the bank has established a simplified flow available to customers on the website https://www.bcr.ro/amana-rata and over the phone *2227 (0800.801.227), offering individualized deferral solutions with up to 3 months payment deferral on installment loans, so as to avoid negative consequences of reporting to the Credit Bureau. The solution implies that clients benefit of a principal payment deferral, while the interest will be accrued and split equally over the remaining tenor.

At the same time, customers can opt for other restructuring methods, which will nevertheless be marked at the credit bureau: reducing the credit rate for a limited period of time and / or extending the credit period for reducing the monthly rate.

Corporate Customers

For Small and Medium Enterprises, BCR is ready to offer, upon request, to its clients which have been verified in the relationship to the bank, the extension of revolving  credit facilities, while keeping the current interest rate unchanged. Also, in line with the government measures to support the companies affected by the pandemic, BCR will ensure relevant support to enable its clients to benefit of the Government support programmes and, in turn, where necessary ensure a simplified flow of granting liquidity financing.

At the same time, depending on the specific  situation of each company, BCR will be able to offer a deferred payment period of principal credit payment  up to 6 months, in order to ease up the pressure on the  cash flow. The solution implies that clients benefit of a principal payment deferral, while the interest will be accrued and split equally over the remaining tenor.

Employees and clients interaction  

At the same time, in order to support the measures to limit public travel, all individuals clients of BCR will receive free withdrawals at the ATM of any bank in Romania until May 1st, and the cards will be delivered by courier to the client, at BCR's expense, without having to travel to the bank.

In order to decrease the traffic in the branches during this period we targeted proactively customers that were recurrent visitors of the branches for bill payments and current account statement .

Thus, in the case of customers with bill payments in branches: 

·        14.000 customers were addressed via call center and George internet banking platform with the possibility to set up a direct debit or, for those having George but not using them, mention about George activation; the customers trough one click opens an short video that shows how to pay a bill step by step

 In the case of customers with statements in branches:

·        60,000 customers received via SMS and George internet banking platform instructions directing them either to banking machines or George platform. The customers trough one click opens an short video that shows how to export the statement or how to search for a particular transaction.

Other measures

·        extensive security / sanitation for work places / plexiglass solution for cash counters

·        transformation of branchess for cashless service – 160 branches

·        50% of Front Office staff entered into pasive teleworking to ensure resilience of workforce

·        Reduced time schedule for small branches

·        Limiting FX for non-clients