Tue, 12 August
25.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

Banks in Armenia forgive 15,000 citizens’ fines and penalties on overdue loans – Pashinyan

YEREVAN, December 27. /ARKA/. As a result of the legislative changes implemented by the Armenian government in July 2018, banks have forgiven fines and penalties totaling AMD 7 billion (USD 14.4 million) to 14,963 borrowers, Armenian Acting Prime Minister Nikol Pashinyan posted Thursday on his Facebook page.

He said 124,000 credit histories of bank clients had been reconsidered.

“This process will be longstanding – citizens having bad loans should visit their banks to adjust their fines and penalties,” he said.

At its session held on June 21, the Armenian National Assembly amended the tax code to allow banks to forgive the fines and penalties imposed on citizens for delaying loan payments.

The decision applies to the payments delayed for 271 days and more as of May 31, 2018.

Some banks apply the same approach also to small and mid-scale businesses. –0—

spot_img

POPULAR

Deputy Prime Minister discusses cooperation prospects with new head of WB Armenia office

Armenian Deputy Prime Minister Tigran Khachatryan received World Bank Regional Director for the South Caucasus Rolande Pryce and newly appointed head of the WB Armenia office Fabrizio Zarcone, the government press service reported.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Armenia registered an inflation rate of 3.4% in July.

According to the National Statistical Committee (NSC) of Armenia, 12-month inflation in the consumer market amounted to 3.4% in July of this year.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img