Monday, November 6 2017 17:26
Alina Hovhannisyan

Deposits in Armenian banks by October 2017 grew by 17.5% per annum - up to 2.5 trillion AMD

Deposits in Armenian banks by October 2017 grew by 17.5% per annum - up to 2.5 trillion AMD

ArmInfo. The volume of deposits attracted by Armenian banks on an annualized basis increased by 17.5%, but only in the third quarter - by 2.2%, reaching 2,479 trillion rubles by October 1, 2017 AMD.

According to Central Bank data provided by the National Statistical Service of the Republic of Armenia, the currency component in the structure of deposits increased by 9.8% year-on-year, and only for the third quarter by 1.8% to 1.547 trillion AMD. At the same time, the dram component demonstrated an annual growth of 32.9%, but only in the third quarter - by 2.9%, reaching 932.8 billion AMD. The share of foreign currency deposits in the total volume of bank deposits traditionally prevails over the share of AMD deposits - 62.4% and 37.6%, respectively.

In the banking sector, the share of residents was 78.2% or 1.938 trillion (with an annual growth of 18.5% and a quarterly increase of 6.1%), and not residents - 21.8% or 541.5 billion AMD (with an annual growth of 14% with a quarterly decline of 9.6%).

In the structure of deposits from residents, the share of demand deposits was 31.4% or 609 billion AMD, while the share of term deposits - 68.6% or 1.329 trillion AMD. Demand deposits decreased by 39.7% year-on-year with an increase of 18.1% in the third quarter, while time deposits showed growth both in the annual segment (by 12.9%) and quarterly (by 0, 3%).

Population deposits in Armenian banks by October 2017 amounted to 1.247 trillion AMD, an increase of 16.2% on an annual basis, and only in Q3 - by 2.9%.

According to statistical data, average interest rates on dram deposits in September 2017 formed at the level of 8.62%, versus 11.76% a year earlier and 9.10% in June this year. (The calculated exchange rate of the dram to the dollar as of 30.09.17 was 478.41 AMD / $ 1).

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