YEREVAN, July 6. /ARKA/. VTB Bank (Armenia) has started forgiving the fines imposed on its individual clients for delaying repayment of their consumer loans, the bank’s press office reported on Wednesday.

This applies to all kinds of consumer loans regardless of the size of the debt and the currency of the loan with repayment delayed by more than 271 days and which were considered as bed loans as of May 31, 2018.

Concerned clients need to visit any branch of the bank before December 31, 2018 for signing the settlement agreement.

Such clients will receive a new schedule for repaying the remaining debt and will be given time up to five years on condition of making the first payment on the very day of the signing of the settlement contract.

They need to provide their passports and social cards.

The deal is formalized on the site for around 15 minutes.

VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for general indicators. -0---