Friday, January 22 2021 19:22
Karine Melikyan

Central Bank of Armenia imposed penalty on the "Finca" credit company

Central Bank of Armenia imposed penalty on the "Finca" credit company

ArmInfo. The Central Bank of  Armenia applied a penalty in relation to the universal credit company  CJSC "Finca" ("Finca" UCO) for the sums to be returned. This is  stated in the message of the Central Bank's press service, which  states that the measure of responsibility against the Finca UCO was  applied for revealed violations of the requirements of the RA Law "On  Consumer Lending" and Regulation 8/05 "Rules of Business Conduct of  Financial Organizations". A fine in the amount of 500 thousand AMD  was imposed on Finca and corresponding instructions were given.   Clients who received consumer loans, agricultural loans (in the  amount of up to AMD 5 million), trade loans (up to AMD 5 million  provided to micro-trade organizations) from Jan 1, 2018 to July 30,  2020 from Finca, and fully fulfilled credit obligations, including  early repayments, for which the annual interest rate was not  recalculated at the time of loan repayment, can contact the company  and receive back the amounts to be returned as a result of the  recalculations made by the company. The company will return these  amounts during 2021.

Clients of Finca UCO can contact the company for clarifications on  the issues that have arisen by calling (012) 555-555 or by sending a  corresponding message to customerservice@finca.am.  To note, the  universal credit company CJSC "Finca" was registered on March 28,  2006. The sole owner is FINCA Microfinance Cooperative U.A.  Netherlands based organization.  According to the Ranking of Credit  Companies of Armenia for September 30, 2020, prepared by ArmInfo  Information Company, in terms of the volume of credit investments,  Finca UCO ranks 6th among universal credit companies with a volume of  20.5 billion drams ($ 42.03 million). The assets of Finca UCO as of  that date amounted to 24.5 billion drams ($ 50.1 million), and  according to this indicator, the company occupies the 8th position. 


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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