Client base of Armenian banks increased by 5.5% over year amid decline of accounts by 17.5%

ArmInfo. The client base of Armenia's banking system by August 2016 numbered 2 353 411 physical and 77 735 legal entities.  According to the National Statistic Service of Armenia, 2 431 146 clients had 3 375 809 accounts in Armenia's banks, from which 3 220 682 are accounts of physical entities and 155 127 of legal entities.

According to the source, client base of Armenian banks increased by 5.5% or 126 171 clients in year-over-year terms. At the same time by Aug 2016 bank accounts declined by 17.5% year over year.

To note, till April 2016 21 banks operated on the financial market of Armenia but after merge of ProCredit Bank with INECOBANK and BTA Bank with Armeconombank the number of banks is 19.