Monday, January 26 2015 17:57
Armenia's Financial Ombudsman: The growth of complaints against financial organizations has been fixed in 2014
Arminfo. The volume of compensations paid by financial organizations to individual persons under mediation of Armenia's Financial Ombudsman, amounted to 170,6 million AMD for 2014.
As press-service of Financial Ombudsman Office reported, the above mentioned sum was repaid for the 1069 cases revised in 2014. Consideration of another 208 cases is under way and has not been completed yet.
The prevailing share of compensation - 82,6% or 140,9 million AMD were paid by the insurance companies, and 14,2% or 24,2 million - by the banks. The share of the car insurance was 2,6% or 4,5 million AMD out of the total volume of compensation, and 0,5% or 786,6 thsd AMD - credit companies. Pawnshops and organizations providing money transfer services - 130 thsd and 13,4 thsd AMD respectively.
In general, 1277 cases against financial organizations were taken by Financial Ombudsman Office for revision in 2014, 77% of which were decided in favor of clients - individual persons, the lion's share of which - 61,1% with positive outcomes were settled amicably. Some 1,021 complaints were against insurance companies, of which 14 on mandatory car insurance, 230 complaints against banks, five against credit organizations, three against pawn houses and four against organizations providing money transfer services.
In general, the complaints against financial organizations grew by 62% in 2014 and the number of complaints accepted for consideration rose 56%. This is conditioned by the appropriate consultation provided to each client, all clients received explanation of their rights and duties, officers have also helped them in filling application forms.
From 24 January 2009 to 22 January, 622.7 million AMD were repaid under the mediation of the Financial Ombudsman Office. The number of the complaints against financial organizations for the reported period amounted to 8381, 2798 of which were taken for revision and 70% were decided in favor of clients.
To note, services of the financial ombudsman, functioning since 2009, are free of charge, as financial organizations pay for its work.
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