Hello bank! Czech Republic joins the Energy Efficient Mortgages Initiative

Brussels, 25 September 2020 For immediate release

The Energy Efficient Mortgages Initiative is delighted to announce that Hello bank! Czech Republic has joined the Energy Efficient Mortgages Initiative. As of today, 61 lending institutions have committed to test the implementation of the final energy efficient mortgages framework into their existing product lines and processes.

The underlying assumption of the Energy Efficient Mortgage Initiative (EEMI), which brings together the EeMAP, EeDaPP and EeMMIP projects, is that energy efficient mortgages represent several advantages for lending institutions, borrowers and policymakers. Namely, they are believed to reduce the owners’ payment disruption risk, increase property value and, as a result, reduce credit risk for banks and financial institutions.

The EEM Initiative aims at delivering a mortgage financing mechanism, according to which borrowers are incentivised to improve the energy efficiency of their properties or to acquire highly energy efficient properties, by way of favourable financial conditions linked to the mortgage. The Initiative will furthermore develop a data collection infrastructure for energy efficient mortgages.

Luca Bertalot, Energy Efficient Mortgages Initiative Coordinator, commented:

It is with great pleasure that we welcome Hello bank! as a new member of the Energy Efficiency Mortgages Initiative. We are delighted to see the development of the Initiative in the Czech Republic: this expansion is not only a strong sign of market interest and confidence but also a reflection of the policy discussions taking place nationally and in the broader Central & Eastern European Region and the pioneering work being undertaken by international and national stakeholders in the Region, such as the EBRD and the Central Bank of Hungary. ”

Gabriela Pithartová, Brand and CX Director, Hello bank! CZ, stated:

“I am very pleased that we have become one of the first signatories to this initiative in Eastern Europe. We at Hello bank! and within the entire BNP Paribas Personal Finance group, we strive to support the sustainable financing and responsible lending of our clients. Therefore, I believe that the standards and activities represented by EEMI will move our market and society a bit further.