12/3/24

Emergency weather events in the provinces of Bergamo and Brescia: initiatives to support customers

Banca Progetto is standing by its customers to overcome the emergency resulting from the exceptional meteorological events that occurred from June 9 to July 13, 2024 in the provinces of Bergamo and Brescia, activating the measures required by law.

Banca Progetto has implemented the measures outlined in the Order of the Head of the Department of Civil Protection (OCDPC) dated November 27, 2024, No. 1,113, published on the Civil Protection Department's website, currently being published in the Official Gazette, regarding the suspension of payment of mortgage installments following the Resolution of the Council of Ministers October 29, 2024, published in the Official Gazette no. 272 ​​of November 20, 2024, with which a state of emergency was declared for 12 months from the date of the resolution.

In particular, Article 9 ("Suspension of Mortgages"), paragraph 1, of the first Ordinance has stipulated that the aforementioned event constitutes force majeure within the meaning and effects of Article 1218 of the Civil Code.

In this regard, it is also provided that mortgage holders related to evacuated buildings or engaged in commercial, economic, or agricultural activities carried out in the same buildings, upon submission of a self-certification of the damage suffered, have the right to request credit and banking institutions, until the habitability or usability of the aforementioned property and in any case no later than the cessation date of the state of emergency (October 29, 2025), a suspension of mortgage payments, choosing between:

• the suspension of the entire installment

• the suspension of only the principal amount

Customers can therefore request the suspension of payment from the Bank by submitting the corresponding request (see Annex 1) accompanied by a self-certification made in accordance with Presidential Decree of December 28, 2000, no. 445, and subsequent amendments (see Self-Certification Annex).

The total amount suspended must be repaid to the Bank without any additional charges or costs in terms of fees or processing expenses. The maturity date of the mortgage will be extended for a period corresponding to the suspension period.

In the case of the suspension of only the principal portion, the borrower will pay the Bank, for the duration of the suspension months, an installment consisting only of calculated interest, based on the remaining principal debt, at the interest rate and according to the terms provided in the contract.

In the case of the suspension of the entire installment (principal portion + interest portion), the accrued and potentially suspended interest during the period, which is not productive of additional interest, will be divided into equal installments and added to the subsequent due installments, and will be entirely due in the event of loan termination or refinancing.