Tuesday, October 9 2018 19:43
Alina Hovhannisyan

Converse Bank pardoned 320 million AMD for 1,200 bad loans

Converse Bank pardoned 320 million AMD for 1,200 bad loans

ArmInfo.Converse Bank by October 1 of this year. pardoned fines / fines of almost 320 million drams for 1,200 bad loans. The press service of the Bank told ArmInfo  that the cancellation of fines applies to individual borrowers who  have loans overdue by more than 271 days, classified as bad as of May  31 of this year.

"The Bank is ready to discuss all applications submitted until  December 31, 2018, and also to conclude, if necessary, with the  borrowers an agreement on refinancing for a period of up to 7 years.  Bank hopes that in the near future the flow of customers will be  activated, and the amnesty for fines program will serve as an  incentive to search for new ways to cooperate with customers and to  restore customers' credit history, "says Converse Bank.

Despite the fact that the amendments to the Tax Code made a few  months ago, apply only to loans from individuals, Converse Bank  expressed its willingness to discuss the possibility of an amnesty  for fines and penalties accumulated on overdue loans also of legal  entities and private entrepreneurs in the contract amount of up to 20  million drams .

Note that July 2 this year. The Prime Minister held a meeting with  bankers in the government of the Republic of Armenia in order to  practically address the issue of concessions to fines and penalties  on overdue loans. On the same day, ACBA-Credit Agricole Bank and  Ameriabank announced the cancellation of fines and penalties on  hopeless loans to individuals, then IDBank (July 4), VTB Bank  (Armenia) (July 4) and Ardshinbank (July 6) announced joining the  process. , Converse Bank (July 11).  Recall that Converse Bank has  been operating in the Armenian market since September 1996. The  Bank's shareholders are Advanced Global Investments LLc (led by  Eduardo Ernekian) - 80.94%, HayPost Trust Management B.V. - 14.06%,  Echmiadzin Cathedral - 5%. The branch network of the Bank consists of  34 units, of which 13 are located in Yerevan, 20 - in the regions of  Armenia and 1 - in the NKR. 

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

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