5/19/23

Marche earthquake emergency: initiatives to support customers

Banca Progetto is at its customers to overcome the emergency as a result of the exceptional seismic events that occurred on 9 November 2022 in the municipalities of Ancona, Fano and Pesaro, activating the measures required by law.

Banca Progetto has implemented the measures envisaged by the Ordinance of the Head of the Civil Protection Department (OCDPC) of 3 May 2023, n. 991 – published on the Civil Protection Department website (https://www.protezionecivile.gov.it/it/normativa/ocdpc-n-991-del-3-maggio-2023/) and in the Official Gazette no. 110 of 12 May 2023 - regarding the suspension of the payment of mortgage installments following the declaration of the state of emergency indicated above. In particular, the Art. 5 ("Suspension of loans"), paragraph 1, of the aforementioned Ordinance established that the aforementioned event constitutes force majeure pursuant to and for the purposes of art. 1218 of the civil code. In this regard, it is also provided for the holders of loans relating to the buildings cleared, or to the management of commercial and economic activities, including agricultural, carried out in the same buildings, upon presentation of a self-certification of the damage suffered, the right to ask the institutes credit and banking institutions, until the aforesaid property is viable or habitable and in any case no later than the date of cessation of the state of emergency (April 11, 2024), a suspension of the installments of the same mortgages, opting between:

- the suspension of the entire installment - the suspension of the capital quota only

Customers can then request the Bank to suspend payment by submitting the relevant request (see Annex 1) accompanied by self-certification pursuant to Presidential Decree 28 December 2000, no. 445 and subsequent amendments (see Attachment self-certification). The total suspended amount must be returned to the Bank without additional expenses and/or charges in terms of commissions or preliminary investigation costs. The maturity of the loan will be extended for a period corresponding to that of the suspension. In the event of suspension of the principal portion only, the borrower will pay the Bank, for the duration of the months of suspension, an installment of interest only calculated on the residual principal debt, at the rate and in the manner set out in the contract. In the event of suspension of the entire installment (principal + interest), the interest accrued and possibly suspended during the period, unproductive of further interest, will be divided into installments of equal amount on the subsequent installments due and will be entirely due in the event of repayment or subrogation of the loan.