API Bank a.d. Beograd
Balkanska 2, 11000 Beograd

In Belgrade, on 20th of March 2020

Dear clients,
Pursuant to the Item 2 Par. 2 of the Decision of the National Bank of Serbia on Interim Measures for Maintaining the Financial System Stability (’’RS Official Gazette’’, no. 33/2020) and the Decision of the Executive Board of API Bank a.d. Beograd (hereinafter referred to as: the “Bank”) no. IO- 125/2020 as of 20th March 2020 on measures and activities that will be implemented towards the debtors due to their possible repayment difficulties, the Bank hereby addresses to all of its clients: natural persons, farmers, entrepreneurs and companies (hereinafter referred to as: the “Clients”) the following:


1. Bank is hereby offering the possibility of a repayment standstill for your obligations towards the Bank (hereinafter referred to as: the “Moratorium”) which may not last less than 90 days, i.e. will last until the state of emergency caused by pandemic ceases to be in force. Moratorium shall refer to the loans and any other commitment the debtor have towards the Bank.

2. As long as the state of emergency is in force the Bank will not calculate due interest for all of the unpaid mature claims and will not initiate enforcement proceedings of any kind towards the debtor, i.e. will not undertake any other legal action in order to collect its claim thereof.

3. As for the regular (agreed) interest calculated during the Moratorium, it will be accrued to the principal debt and equally distributed within the remaining payment deadline.

4. Upon expiry of the Moratorium, the debtor will continue to repay his loan as if his repayment deadline was accordingly prolonged for the period of the Moratorium validity.

5. Upon announcement of this Notification to the Clients on the official web site of the Bank on 20th March 2020, it shall be deemed that the respective offer is duly delivered to the Clients.

6. If the Client does not refuse the offer within 10 days as of the offer announcement, such offer shall be deemed as accepted.

7. The Client’s refusal thereof may be delivered to the Bank within the deadline referred to in previous item of this Notification, in any of the following manners:
— in writing to the Bank’s registered seat: 2 Balkanska Street, 11000 Belgrade,
— electronically from the Client’s email address duly registered within the Bank’s data base to the Bank’s email (for natural persons) and (for farmers, entrepreneurs and companies),
— in person at the Bank’s branch office seated at 2 Balkanska Street.

8. Moratorium shall come into effect upon expiry of 10 days as of the respective announcement i.e. as of 30th March 2020, unless the Client demanded its earlier implementation (delivering statement in manner stated in Item 7), but, in any case, not earlier than the announcement date.

9. Bank will implement the Moratorium as for the fees collection for issued guarantees that should become due within the Moratorium period, unless the Client explicitly refused the offer i.e. the Moratorium implementation as prescribed by the Item 7 of this Notification. All other fees being paid by the clients when issuing guarantees, as well as the payment turnover and other fees related to bank accounts (their maintaining etc.) will be collected in accordance with the Bank’s Tariffs and such fees shall not be subject to standstill regime

10. Bank will prolong due date for all revolving and overdraft products becoming due prior to the Moratorium expiry, to some date after standstill expire, whereas the same will go for invoice due date for factoring arrangements, if the said invoice would become due within the Moratorium period.

11. Bank will provide the Clients, upon demand, with other benefits (e.g. additional extension of the repayment deadline), whereas the Bank will be deciding on case-to-case basis, relying on the actual needs of the Clients.

12. During Moratorium the Bank will not claim from the Client reimbursement of any repayment expense whatsoever.

13. During Moratorium default shall be suspended and shall not be reported to Credit Bureau.

14. For any additional information please call our Contact center by dialing +381 11 395 2265.

API Bank a.d. Beograd