Individual bank deposits in Armenian dram slash by 22.8%

29.12.2009 20:52
Individual bank deposits in Armenian dram slash by 22.8%

YEREVAN, December 29, /ARKA/. The amount of individual bank deposits in Armenian dram slashed by 22.8% in January-November, 2009 to 167.5 billion drams, down from 216.9 billion drams a year before.

According to an analysis by ARKA, based on Central Bank official figures, the share of individual deposits in drams rose to 16.2% from 13.7% at the beginning of the year. Deposits in foreign currencies, in dram equivalent, rose by 10.3% from the beginning of the year to 341.1 billion Drams.

Aggregate individual time and call deposits grew by 31.9% in the first 11 months of the year. According to the Central Bank of Armenia, the overall amount of attracted deposits rose from 465.9 billion drams at the beginning of the year to 640.3 billion drams at the end of November.

Time deposits in foreign currencies grew by 2.4 times in January-November (in dram equivalent) to 247.5 billion Drams and time deposits in drams fell by 46.4%. The share of individual time deposits in drams in the overall volume of time deposits was 37.4%.

The amount of dram deposits of non-commercial organizations dropped by 11.4% (or by 2.4 billion drams) to 18.6 billion drams, while deposits in foreign currencies rose by 77% (in dram equivalent) to 16.5 billion drams at the end of September, 2009.

The share of deposits in drams of other financial organizations stood at 12.6 billion drams at the end of Q3 and deposits in foreign currencies at 14.4 billion drams (in dram equivalent). ($1-377.32 drams). -0-


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