Currency clause deletion

Dear clients,

We hereby inform you that from January 1st 2018, the currency clause in the Consumer Loan Agreements for Individuals is deleted, which reads:

"In the event of a change i.e., an increase in the average exchange rate of the Denar against the EURO for more than 2% according to the indicative exchange rate of the National Bank of the Republic of Macedonia (NBRM), the User of the loan agrees, the Bank/Creditor to increase the outstanding portion of the principal of the loan for the corresponding percentage over 2 %. In such a case, the Bank/Creditor will determine a new amount of a monthly liability to be paid. Indexation - The adjustment is made at the end of the year or within the term of use, repayment or maturity of the loan. On the date of occurrence of the change, the Bank /Creditor shall indebt the user in its records and shall notify him/her in writing for this increase (adjustment)."