ArmInfo. Banking system of Armenia increased amount of deposits by 125.4 bln AMD in Jan-Nov 2015 and at the same time decreased credit financing by 88 bln AMD. According to economist Vilen Khachatryan this situation testifies to economic downfall in Armenia and consequently, banks are in risk zone.
"Growth of deposits may be assessed both as positive and negative factor, as from the one hand population's savings have increased, but on the other hand a sum of 125.4 bln AMD has not been put into economy and has been frozen on deposit accounts", Khachatryan noted at the press conference on January 15.
According to the Central Bank, the amount of deposits attracted by Armenian banks for 11 months of 2015 increased by 7.1% to 2.1 trln AMD, amid 8.9% year over year growth. Credit financing declined by 4.1% as compared with the beginning of the year amid 2.5% year over year growth.
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