In around six months, the banking industry will be facing amoment of truth: it will have to decide whether it will erase ornot part of the book value of some packages or personal loans whoserestructuring period is expiring and for which there are no chancesof recovery within a reasonable timeline and worse, which willblock the market, states Vladimir Kalinov, who has recently takenover the position of retail executive vice-president withRaiffeisen Bank, the third largest bank on the market in 2010.
From clients' perspective, a write-down operation means part ofthe debt is wiped out so that the borrower can further pay the sumthat is left.
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