Monday, October 3 2011 17:45
Deposits raised by Armenian banks grow by 7.5% to $2.3 bln in Aug 2011
ArmInfo. Deposits raised by Armenian commercial banks for August 2011 were up 7.5% (33.4% y-o-y growth, 20% growth in Jan-Aug) to 863.1 bln AMD ($2.3 bln). In the structure of the raised deposits, the share of deposits in Armenian dram was 29.7% or 256.5 bln AMD ($690 mln), the share of deposits in foreign exchange was 70.3% or $1.6 bln (606.6 bln AMD). The share of deposits in drams was down 2.4% for Aug 2011.
By preliminary data of Armenian Central Bank provided to ArmInfo by the National Statistical Service of Armenia, the share of deposits of non-residents was 21.4% or 184.8 billion drams (43% growth for Aug), including 9.5 billion deposits in drams (1.6% growth for August). The share of deposits of non-residents in foreign exchange totaled 175.83 bln AMD (46.3% growth for August).
Deposits of residents made up 78.6% of the total volume of deposits, or 678.2 billion drams, including 247 billion drams deposits in terms of Armenian dram. Deposits of residents in foreign exchange totaled 431.3 billion drams. The share of call liabilities in deposits of residents was 37.8% or 256.2 billion drams, and the share of time deposits was 62.2% or 422 billion drams.
Balance of population deposits as of September 1 2011 totaled 425.92 billion drams, having increased by 2.7% in Aug 2011 (37.4% y-o-y growth).
Interest rates on deposits in terms of Armenian dram were up from 8.95% to 9.28% in Aug 2011 (0.17% y-o-y growth).
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