9 UNFAIR BORROWERS ESTABLISHED BY CENTRAL BANK IN ARMENIA

/ARKA/
August 10, 2009
Yerevan

The Central Bank of Armenia (CBA) published the list of nine unfair
borrowers with overdue liabilities (exceeding 180 days) to commercial
banks as of the end of June this year. The overdue amount exceeds 5%
of minimum norm on banks’ total capital, i.e. 5 billion drams.

CBA’s press service reported that the list is published as required
by item 3 of article 6 of Armenian Bank Secrecy Law.

Among the unfair borrowers were nine organizations (including KARZEL
llc, Intermotor-Yerevan llc, Universalshin llc, Agrinex ojsc and
others) and two individuals – Vladislav Mangasaryan and Ashot
Ghazaryan.