As of May 2016, deposits with Armenian banks increased 12.9% y-o-y reaching almost 2 trillion drams

ArmInfo. The amount of deposits raised by the Armenian banks grew by 12.9% y-o-y to 1.986 trillion AMD as of May 1 2016.

According to the National Statistical Service of Armenia the deposits in foreign exchange grew by 8.9% y-o-y to 1.340 trillion AMD, with the deposits in the Armenian dram growing by 22.2% to 646.6 billion AMD.

Deposits of residents accounted for 78% or 1.548 trillion of the total deposits (15.2% y-o-y growth) raised by the Armenian banks, while the ones of non-residents accounted for 22% or 438.4 billion drams of the total (5.5% y-o-y growth).

Call liabilities accounted for 28% or 433.5 billion drams of total deposits of residents, while time deposits accounted for 72% or 1.1 trillion drams of the total. Call liabilities grew by 14.9% over the year amid 15.3% growth of the time deposits.

The population deposits slightly exceeded 1 trillion drams as of May 2016, growing 12.7% year over year.

According to statistical data, interest rates on deposits in terms of Armenian dram were at the level of 10.77% versus 13.26% a year before. (The exchange rate was 478.61AMD/1USD on April 29 2016).