Some Czech banks will begin allowing its clients who suffer economic hardship because of the coronavirus to defer mortgage payments, consumer loans and small business loans for up to three months. The Czech Banking Association is calling it an appropriate instrument for getting through a period of crisis. “The Association’s presidium is aware of the potentially difficult impact the COVID-19 epidemic could have on clients and it confirms that banks support their clients and will be prepared to offer concrete help to clients on whom the economic consequences of the epidemic fell,” said the association’s CEO Pavel Štěpánek. Consumers are being advised to consult with their banks as soon as possible to agree how to move forward. Several banks such as Komerční banka and Česká spořitelna made it known on their social media accounts that they were willing to open a dialogue with customers who were in trouble.
But Moneta Money Bank made a mess of its messaging by tweeting that it didn’t intend to offer any deferals. This resulted in such a massive hammering on its social media accounts because within two hours it had performed an about-face and was on board with payment deferrals. It even made something that resembled an apology. “We’re sorry if our previous comment wasn’t sufficiently clear,” it tweeted. “We’re prepared to help.”
