Thursday, May 8 2014 18:47

Large borrowers of Armenia have difficulties in loan servicing


ArmInfo. Large borrowers of Armenia have difficulties in loan servicing, Hakob Andreasyan, the newly-appointed Chief Executive Officer at ACBA-Credit Agricole Bank, said at today's press conference in Yerevan.

He specified that some large borrowers had loans at several banks simultaneously. "Due to the sales decline, they came across some financial difficulties, however, their difficulties are not so serious to inflict a tangible damage to the Bank's activity", he said. Andreasyan added that all the large loans are secured. "We have set ourselves a task to find an optimal solution for each of our borrowers and to give them an opportunity to continue their activities", he said.

The banker explains the large businessmen's problems first of all by the tardy consequences of the global crisis for Armenia.
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