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September 25
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YEREVAN. – A possible second wave of the coronavirus will impact the already-suffered domains. Seyran Sargsyan, Executive Director of the Union of Banks of Armenia, stated this Monday during a videoconference.

According to him, everything depends on what challenges the economy will face, as well as the depth of the crisis. "Given the banks' revised contracts customers, the impact should not be as severe than during the first wave, and the risks will be more manageable. As for the possible post-crisis expectations, they are positive," Sargsyan said.

He added that as of June 1, banks in Armenia have revised the terms of their loan agreements with 550,000 individuals and 17,500 legal entities, a total of 980,000 loan agreements in the amount of 1.3 trillion drams were revised, and about 30% of bank customers took advantage of the opportunity to review the terms of their contracts.

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