Hypo Bank announces new annexes to CHF loan agreements concerning conversion

Hypo-Alpe-Adria-Bank (HAAB)  said in a statement on Saturday that 80 per cent of its clients had to date signed its plan for conversion of Swiss franc-pegged loans into euro-denominated loans, adding that the final text of new annexes to the loan agreements was still being hammered out and would be sent to clients at a later date.

The statement came as activists of the Franak association, which gathers together people with CHF loans, rallied outside the HAAB office in Zagreb's main square on Saturday morning to protest against irregularities in the loan conversion scheme.

HAAB said it was among the first banks to send information and calculations regarding the loan conversion to its clients. Its statement was circulated among protesters who blocked the bank's office in Trg Bana Jelacica Square.

The bank said that the final text of the annexes would be in line with the law and that clients would have 30 days from the date of receipt of the proposed conversion scheme to accept or reject it.

Last update: Sat, 03/09/2016 - 00:54

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