In the case of lease agreements, private individuals will have a possibility to defer loan repayment for three months.
For corporate clients, loan deferment is a standard procedure in case of liquidity problems. If a customer communicates to the bank about the issue in its early stages, we are in a position to make mutually agreeable decisions. Depending on the client’s situation and provided the client passes the established risk criteria, we can pick from several scenarios to restructure the loan and offer a deferment period of 3 to 6 months.
We are getting ready to offer more possible solutions to the problem in case the economic impact on the coronavirus outbreak keeps increasing.
Luminor is the third-largest financial service provider in the Baltic States’ banking sector. At the end of 2019, Luminor’s market share was 16.6% in deposits and 18.7% in lending. With 2500 employees, Luminor is capable of taking proper care of its 940 thousand clients. The bank’s CET1 ratio is 19.7%, and its shareholder equity comprises 1.6 billion euros.
Translated by MP Translations Agency in Kaunas.
