At the customers’ request and with consideration of the number of applications and the fact that customers need one more opportunity to improve their credit history, the IDBank has decided to continue the waiver  process of penalties.

According to IDBank Chairman of the Management Board Mher Abrahamyan, the bank has decided to concede clients who, due to certain objective reasons, have overdue credits and have not applied for cancellation of penalties.

“For our customers, we are ready to concede the fines and penalties which were classified as unreliable until 31.05.2018 in case of conciliation with the bank or full repayment of the loan. Our clients have 6 months to apply to the bank and conclude a peace agreement,” said Mher Abrahamyan.

The bank also reminds that it announced a full  cancellation of  penalties on unreliable loans for individuals on July 3, 2018. As of the moment, the bank has already satisfied more than 1,200 applications for penalties cancellation in case of full repayment of loans or  conciliation with the Bank, resulting in the total amount of penalties exceeding AMD 850 million.