YEREVAN, March 25. /ARKA/. Armenian population’s dram deposits in banks reduced 22.8% from AMD 216.9 billion in the beginning of 2009 to AMD 167.5 billion later that year.

ARKA News Agency’s analysis based on the central bank’s figures shows that the share of households in total amount of deposits in Armenia reached 17.7% by late December 2009 against 13.7% in the beginning of that year.

However, deposits in foreign currencies grew by 114.4%, compared with the beginning of 2009, and reached AMD 366.5 billion by late December.

Aggregate time and demand deposits of the population in banks have grown by 41% over 2009.
According to the central bank’s data, deposits in Armenian banks totaled AMD 657 billion against AMD 465.9 billion.

Since the beginning of 2009, deposits in foreign currencies have outdone those in national currency.

Time deposits in foreign currencies have grown 2.5 times or by 145.3% over the year reaching AMD 251.4 billion, while those in drams have reduced by 46%.

Time deposits in drams made up 20.1% of the total amount of deposits attracted from the population.

Such a fast growth of time deposits means that public confidence in banks is increasingly growing, but people prefer to keep their savings in foreign currencies.

Households’ time deposits in banks has grown 42.9% over 2009 to AMD 214 billion.

Noncommercial organizations’ dram deposits reduced 29.2% or by AMD 6.1 billion to AMD 14.8 billion, while deposits in foreign currencies grew 66.7% to AMD 16.6 billion by late December.

Other financial organizations’ dram deposits totaled AMD 10.7 billion and deposits in foreign currencies AMD 17.9 billion.

Nonresidents’ share in the total amount of attracted deposits was 18.7% or AMD 123 billion. ($1= AMD 394.40).-0---