Mon, 16 June
23.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

ACBA-CREDIT AGRICOLE BANK to forgive penalties and fines on bad loans

YEREVAN, July 3. /ARKA/. ACBA-CREDIT AGRICOLE BANK said today that from August 1 it will cooperate with all individual customers, who had bad consumer or agricultural loans at the bank as of May 31, 2018. The Yerevan-based bank said in a press release that it will zero all accumulated fines and penalties on these loans.

The bank asked all these borrowers to visit a branch of the bank to conclude reconciliation or on-lending contracts. Under these contracts the bank will cede the penalties and fines accumulated in the past, and while the borrowers will have to pay the principal amount of the loan in accordance with the procedure and new repayment schedule to be set by the new contract. The bank added that on-lending contracts will be concluded for a period of up to four years.

On June 21 the Armenian parliament adopted amendments to the Tax Code in the second and final reading, allowing banks to “forgive” citizens fines and penalties for delinquencies in unpaid loans.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK. ($ 1 – 482.49 drams). -0–

spot_img

POPULAR

Technological Gaps and Lack of Open Banking Stalling Armenia’s Investment Market- Director of Sirius Capital

The technological underdevelopment of the stock exchange and the lack of open banking are hindering the development of the investment market in Armenia, says Ararat Mkrtchyan, executive director and managing member of the investment company Sirius Capital.

Investment opportunities in Armenia discussed by Finance Minister and new ADB President

YEREVAN, May 12. /ARКА/. Finance Minister Vahe Hovhannisyan discussed investment opportunities in Armenia and the region, as well as reforms aimed at stimulating economic growth, with newly appointed Asian Development Bank (ADB) President Masato Kanda.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Central Bank of Armenia recommends banks to freeze credit obligations with signs of fraud – Galstyan

As a solution to the problem of growing financial fraud, the Central Bank of Armenia has recommended banks to freeze all credit obligations that have signs of fraud, said Martin Galstyan, head of the Central Bank of Armenia.

Euro and dollar exchange rates to the Armenian dram fell, the ruble rose slightly

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 9, 2025, fell by 0.36 points compared to June 6 and amounted to 383.46 drams.

LATEST NEWS

spot_imgspot_imgspot_img