ArmInfo. The volume of deposits in Armenian banks exceeded 2.7 trillion drams ($ 5.6 billion) by August 1, 2018. It is noteworthy that this indicator after a decline in January-April by 3.3%, jumped for May-July - by 6.3%. As a result, the growth for January-July was 2.9%, and in the annual context (July 2018 to July 2017) - 8%.
According to the Central Bank of Armenia, the structure of deposits for the currency component now accounts for 59.3%, against 62.2% a year earlier. The absolute value of this indicator, having increased by only 2.4% over the year, amounted to 1.6 trillion drams ($ 3.3 billion). Against this background, the share of the dram component increased from 37.8% to 40.7%, jumping by 13.9% in absolute terms to 1.1 trillion drams ($ 2.3 billion). In the current year, foreign currency deposits, after a decline in January-April by 5.7%, jumped by 7.8% in May-July, while drams during these same periods demonstrated a stagnation out of 4.4% growth.
Deposits of non-residents decreased by 9.1% to 574.8 bln drams ($ 1.2 bln), which was mainly caused by a drop in the dram component (by 28.7%) compared to the currency component (by 3.3% %). Against this background, residents' deposits showed a 12.1% growth to 2.1 trillion drams ($ 4.4 billion) due to a dramatic climb of the drams (by 21.4%) with a modest 5% increase in foreign exchange rates. But only in the context of 2018, namely, January-July, deposits of non-residents increased by 10.8%, and residents - by 0.9%, with non-residents preferring to increase foreign currency deposits by 14.5%, reducing the dram deposits by 3.4% while residents, on the contrary, increased dram (by 5.7%), reducing foreign exchange (by 2.9%).
It should be noted that this year, by the end of April, at the height of the velvet revolution, deposits of both non-residents and residents decreased, respectively, by 8.9% and 1.9%, with the former almost equally aloof and foreign exchange and drams, while in the second the decline in foreign currencies was accompanied by a meager growth of drams. But already in May, when the revolutionary movement entered the phase of the victorious climax, there was a growth that fully restored by the end of July an upward trend: deposits of non-residents increased by 21.6%, and residents by 2.9%. In particular, for May-July non-residents increased foreign exchange deposits by 25%, and drams - by 7.9%, against which the growth of residents' deposits was too modest - 1.9% foreign currency and 4% AMD.
Deposits of residents, broken down into urgent and on demand deposits, grew by 11.4% and 13.4%, amounting to 1.5 trillion and 653 billion drams, respectively, in particular the high growth of the dram component (22.2-20%) was accompanied by a modest increase currency (4.3-7%). Only in January-July 2018, the growth of deposits of urgent and post-mortem was equally small - 0.9%, with a low growth of the dram component by 6.9-3.6%, accompanied by a 3.3-1.7% decline in the currency. If we consider the behavior of depositors from the beginning of the velvet revolution to its culmination, then the following picture emerges: by the end of April, a significant slowdown in the growth of urgent to 1% was accompanied by an equally significant drop in demand deposits (by 8.2%), and by August, in the stagnation against the backdrop of 9.9% growth in deposit holdings. Namely, the meager growth of term AMD deposits was neutralized by the same decline in the term foreign exchange, while the dram and currency components of the demand deposits showed almost the same high growth (9.5-10.6%). Residents in term deposits are dominated by foreign exchange (56.1%), and in deposit accounts - dram (52%). In time deposits by August 1 this year. the funds of physical persons dominate - 73.6%, and in deposits of demand - funds of corporate clients - 55.4%, against 75.4% and 59.7% a year earlier. Interest rates on AMD deposits as of August 1, 2018 were formed at the level of 8.69%, against 8.82% a year earlier and 8.41% at the end of 2017. Moreover, in late April this year. the rate jumped to 8.97%, falling in May to 8.48%, but already since June there has been an increase. (The calculated rate of the dram as of July 31, 2013 is 480.95 dr / $ 1).