Content by ARMENPRESS News Agency
Photo by ARMENPRESS News Agency
2020-09-24 17:41
FINANCIAL INSTITUTIONS HAVE REVIEWED 1 MILLION LOAN AGREEMENTS
In the last few months, Armenian financial institutions have revised almost 1 million loan agreements with a balance of 1.5 trillion drams in the context of the coronavirus.

Nerses Yeritsyan, Deputy Chairman of the Central Bank of Armenia, said this at the parliamentary hearings on "Imposition of Penalties, Penalties and Credit Interest Rates on Loans and Other Overdue Liabilities, Their Amnesty and Other Credit Issues in the Armenian Banking System" convened on the initiative of the Prosperous Armenia faction.

"During the last few months, almost 1 million loan agreements have been reviewed by Armenian financial organizations. Their total balance was about 1.5 trillion drams. The recipients of the revised loans are about 550,000 individuals և 17,000 legal entities, "Yeritsyan said.

According to him, such a large-scale review of loans by financial institutions is the best expression of goodwill and partnership with their customers, as the costs of the review were borne by the financial institutions and their owners.

Yeritsyan stressed that looking at the whole picture, it becomes obvious that credit vacations can not last long. At the same time, he assured that if the board of the Central Bank, being a group of impartial professionals, assesses that the balance has been disturbed in any way, it will never hesitate to intervene to protect the interests of the citizens.

Under the state of emergency in Armenia, at the urging of the Central Bank, commercial banks should take an individual approach to loans.