Monday, January 12 2015 19:50

Armenia's banking system experiences growth in deposit rates


ArmInfo. The banking system of Armenia is still experiencing growth in the AMD deposit rates. The rates started growing in December 2014. Now Anelik Bank offers an Armenian Dram (AMD)+ deposit at the interest rate of 16.25% p.a. The press service of Anelik Bank has told ArmInfo that the depositors can enjoy such an interest rate in case the money is deposited for 6 months. In case of a 3-month period, the interest rate is 16% p.a. The minimum amount of the deposit is 100 thsd AMD.

"Given the market trends and demand of its customers, Anelik Bank regularly launches new banking products, including deposit products, which help the customers efficiently manage their funds. AMD+, the new deposit product, also serves that goal. Customers can deposit funds for a short period and enjoy a stable and high income", says Anelik Bank's PR manager Astghik Martirosyan.

The first to raise deposit rates in late 2014 was ProCredit Bank. In Dec 2014 it raised the rates of three-month AMD deposits to 16-18%.

According to Armenia's Financial Rating of Banks of Armenia, Anelik Bank registered the biggest growth in time deposits in 2014 and particularly a 30% growth in personal time deposits.

The sole owner of Anelik Bank is Credit Bank S.A.L. from Lebanon.
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