ACBA-CREDIT AGRICOLE BANK has forgiven 433 loan obligations worth more than 188 million drams | ArmBanks.am

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ACBA-CREDIT AGRICOLE BANK has forgiven 433 loan obligations worth more than 188 million drams

23.08.2018 18:49

ACBA-CREDIT AGRICOLE BANK has forgiven 433 loan obligations worth more than 188 million drams

YEREVAN, August 23. /ARKA/. Starting from August 1 the Yerevan-based ACBA-CREDIT AGRICOLE BANK began forgiving fines and penalties on bad individual loans, accrued at the end of May 2018. The bank said today in a press release that a total of 433 loan obligations worth more than 188 million drams were forgiven over 10 days.

According to the bank, at the moment a sharp increase in the volume of forgiven fines is expected, due to unprecedented favorable conditions offered by ACBA-CREDIT AGRICOLE BANK for re-crediting of agricultural loans.

ACBA-CREDIT AGRICOLE BANK forgives fines on individual loans accrued as of May 31, 2018, which were recognized as uncollectible, but on condition that if borrowers agree to make flat payment of the remaining obligation or pay only interest and legal expenses.

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Tags: ACBA-Credit Agricole bank, loan obligations

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