ArmInfo.From February to June 30, 2022, the deposits of non- resident individuals increased significantly in the banks of Armenia. Armen Nurbekyan, head of the macroeconomic department of the Central Bank of the Republic of Armenia, stated this on August 2 during a press conference, specifying that the quantitative growth was 70.4%, which mainly came from demand deposits.
At the same time, Nurbekyan noted that there is also an upward trend in term deposits, but not so significant. In this regard, he noted that the growth in demand deposits is more pronounced as it compares with a low baseline. In turn, Deputy Chairman of the Central Bank Nerses Yeritsyan stressed that it is not necessary that the funds be invested in deposits, this, according to him, could be investments in the real estate market and other business initiatives, the results of which are reflected in the statistical data. At the same time, he stated that, in quantitative terms, the accounts opened by non-resident individuals continue to increase, but at a somewhat slower pace.
According to the Financial Rating of Banks of Armenia as of June 30, 2022, prepared by ArmInfo, the volume of demand liabilities increased by 24% year-on-year - up to 1.9 trillion drams ($4.5 billion), and in the first half of the year - by 16%, of which 14% growth was recorded for Q2. In the structure of demand liabilities, the funds of individuals account for about 44% or 807.8 billion drams (almost $2 billion), with a y-o-y growth of 53%, in H1 2022 - almost 40%, and a 33% growth was achieved in Q2. Moreover, if a year earlier, in 2021, the share of demand deposits of individuals in the total volume of demand liabilities fluctuated in the range of 35-36%, then by April 1, 2022 their share exceeded 37%, moving further by July 1 to 44%, in as a result, their gap with demand deposits of legal entities decreased (56%, against 65% a year earlier).
