NMIC ready to help with loans in Swiss francs

National Mortgage Insurance Corporation (NMIC) absolutely supports the efforts of all relevant institutions in Serbia in the fight against foreign exchange risk, NMIC Acting Director Sasa Jovanovic told Tanjug news agency Wednesday (30 January 2013).

- We are ready to offer our expertise and all the data we have to help find the best possible solution - Jovanovic said in a comment on the efforts that the central bank and other competent institutions put into finding a solution to the problems of citizens who have taken out loans denominated in Swiss francs.

Since it was established until today, NMIC has insured about 20,000 mortgage loans denominated in Swiss francs.

Of that number, 326 loans are due to be paid by NMIC, which is only 1.65 percent of the total number of insured mortgage loans in CHF, said people at that institution.

The total portfolio of the National Mortgage Insurance Corporation includes more 71,000 insured mortgage loans. Of that number, 0.58 percent or 411 are matured loans to be repaid by NMIC.

Governor of the National Bank of Serbia Jorgovanka Tabakovic stated earlier that NMIC as well should take part in solving the problems with the repayment of loans denominated in Swiss francs because that organization "charges high fees for insuring mortgage loans."

A commission consisting of the representatives of NBS, consumers' association, banks and financial experts is working on a solution that will help citizens overcome problems with the repayment of loans caused by a significant increase in the value of the Swiss franc over the last few years.

As the governor announced, a draft solution should be ready in two or three weeks. She stressed in an interview with Tanjug that it was a complex problem that took time to solve.

According to the data from end-November last year, people in Serbia were granted loans in CHF totalling RSD 88.3 billion (gross), RSD 7.9 billion of which are non-performing loans.