ArmInfo. The volume of deposits attracted by Armenian banks on an annualized basis increased by 9.5%, reaching 2.643 trillion AMD by April 1, 2018. For the first quarter of this year, the volume of deposits grew insignificantly - only by 0.7%.
According to the preliminary data of the Central Bank published in the report of the National Statistical Service of Armenia, in the structure of deposits the currency component grew by 3.8% year-on-year to 1.578 trillion AMD, but only for the quarter - decreased by 0.5%. At the same time, the dram increased by 19.1% to 1.065 trillion AMD, with a quarterly growth of 2.5%. The share of foreign currency deposits in the total volume of bank deposits traditionally prevails over the share of dram deposits - 59.7% and 40.3%, respectively.
In the banking sector, the share of residents was 79.3% or 2.112 trillion (with annual growth of 17.2%, and in the first quarter - by 0.3%), non-residents - 20.7% or 531.4 billion (with an annual decline of 13.9%, and for the first quarter - growth of 2.5%).
In the structure of deposits from residents, the share of demand deposits was 28.8% or 608.9 billion drams, while the share of term deposits - 71.2% or 1.502 trillion AMD. Demand deposits for the year increased by 21.8%, with quarterly growth of 5.9%. Term deposits increased by 15.4% year-on-year, and only in the quarter by 3%.
The population's deposits in Armenian banks by April 2018 amounted to 1.365 trillion drams, having increased by 16.2% on an annual basis, and in quarterly terms - by only 1.1%.
According to statistical data, the average interest rates on dram deposits by April 2018 were formed at the level of 8.39%, against 9.82% in the previous quarter and 8.41% a year earlier. (The calculated rate of the dram was as of March 30, 2018 480.06 AMD/USD1).