No extension of loan repayment moratorium expected

No extension of loan repayment moratorium expected

The moratorium on loan repayments will not be extended for a third time. The end of the health-care part of the problem can be seen on the horizon, banker Levon Hampartzoumian has told bTV.

"But as the medical issues disappears, economic problems continue," Hampartzoumian said. If a company had an unsustainable business, the outcome for it would not be good both in times of a pandemic and without one, the banker added. "People who owe money should communicate with the financial institution they took the loan from. Do not expect banks to start asking for money the day after the end of the loan repayment moratorium. But banks must be convinced that they would receive the money back," Hampartzoumian said. He added that a wave of non-performing loans was not expected.

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