The Volume of Waived Penalties for Loans Reached 11 Billion 817 Million Dram, Central Bank Reports

The total volume of waived penalties and fines for recognized bad loans provided to individuals has reached 11 billion 817 million dram as of June 2, 2019, according to the Central Bank of Armenia.

Since July 1, 2018, the credit reports of individual borrowers, co-borrowers, and guarantors do not include information on loans that became overdue by May 1, 2018, or earlier, which have a contractual principal amount (at the time of signing the contract) not exceeding 50,000 dram.

The improvement of credit history has affected 126,585 individuals.