Monday, April 23 2012 20:05
Through mediation of Financial Ombudsman of Armenia, consumers of financial services received 9.606 mln AMD compensation in Q1 2012
ArmInfo. Through the mediation of the Financial Ombudsman of Armenia, consumers of financial services received 9.606 mln AMD compensation in Q1 2012. The Office of the Financial Ombudsman of Armenia told ArmInfo that 6.817 mln AMD (70.9%) of this amount fell on the insurance companies, 2.367 mln AMD - on the banks, and 422 thsd AMD - on the Motor Insurers' Bureau.
The Office of the Financial Ombudsman received a total of 249 complaints (the total number of different kinds of complaints, which were not in the line of the Financial Ombudsman, was 281), of which 75 were not subject to consideration on the basis of the Law "On Ombudsman of Financial System". 10 complaints were satisfied, 46 were taken into consideration.
29 complaints were against the insurance companies and the Motor Insurers' Bureau. 18 of them concerned motor third party liability insurance, 7 - insurance of vehicles, 2 - health insurance, 1 - travelling insurance, and 1 - accident insurance. Over the period under review the Financial Ombudsman also considered 15 complaints against the banks, 6 of which concerned credit transactions, 5 - payment and settlement operations, 2 - deposit transactions. The Office considered 1 complaint against the pawnshops and 1 against the credit companies.
In March 2012 the amount of compensation paid to the consumers of financial services through the mediation of the Financial Ombudsman totaled 3.999 mln AMD, of which 3.876 mln AMD (96.9%) fell on insurance companies and 123 thsd AMD - on the banks. The number of complaints against the financial organizations was 97 (the total number of different kinds of complaints, which were not in the line of the Financial Ombudsman, was 103), of which 24 were not subject to consideration on the basis of the Law "On Ombudsman of Financial System". 73 complaints were subject to consideration, 4 of which were satisfied and 25 were taken into consideration.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan