Starting today, Hypo Alpe Adria Bank (HAAB) will start informing clients in writing about the general provisions of the Law on the Conversion of Loans in Swiss Francs (CHF) to Euros.
According to the representatives of the bank, HAAB will also inform clients of its intention to implement the Law within the stipulated legal term, in accordance with the guidelines it received from the Central Bank (CBCG).
"HAAB is fully committed to enforcing applicable laws, including the Law on Loan Conversion, in the best interest of its clients, as well as ensuring a quick and simple conversion process," the statement said.
HAAB will, on an individual basis, contact all its clients to whom this Law applies, in order to explain to them the effect it has on the level of their current indebtedness and with the aim of agreeing on new lending conditions.
"In order to be able to take advantage of the favorable conditions from the Conversion Act, HAAB strongly encourages all clients, who have loans with a clause in CHF currency, to come to HAAB branches as soon as possible, in order to provide them with all the necessary information," the bank concluded.
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