HSBC Bank Armenia from March 13 to May 31 will not fine loan defaults

ArmInfo. Taking into account the fact that due to the situation around the spread of coronavirus /COVID-19/, some customers of "HSBC Bank Armenia" CJSC /hereafter the  Bank/may face issues in meeting the loan obligations stipulated in  their agreements, as well as with the purpose of assisting our  customers in overcoming their financial difficulties,

the Bank decided   not to apply contractual penalties for non-payment of the  obligations as per loan repayment schedules for retail customer  credit facilities for the period of March 13- May 31, 2020 inclusive,  and   not to consider unpaid contractual liabilities as "overdue",  including provision of information to CBA Credit Registry and ACRA  Credit Bureau, for retail customer credit facilities for the period  of March 13 - May 31, 2020 inclusive. This point is not applicable to  the customers, who have overdue payments for more than 30 days as of  13 March, 2020. 

At the same time, in the current situation the Bank is ready to  provide tailored solutions to its customers by deferring due  principal and interest payments, as well as by extending the facility  maturity date where required.  If you have any questions, you can  contact HSBC Bank Armenia through the following communication  channels: Internet Banking system, email address  [email protected], contact center +374 (60) 655 000. If these  communication channels are unavailable, you will have to visit a bank  branch .

It should be noted that HSBC Bank Armenia, representing HSBC Bank plc  Group in Armenia, has been operating since June 20, 1995. HSBC Bank  Shareholders Armenia is represented by HSBC Europe BV - 70% and Wings  Establishment - 30%; 7 branches of the bank are located only in  Yerevan.  And this small number of branches in the case of HSBC Bank  Armenia is explained by the inherent nature of a foreign bank, the  very active use of remote methods of customer service and the digital  transformation of banking services.