YEREVAN, February 25. /ARKA/. Armenia’s Ameriabank said today the overall volume of its time deposits placed by individuals grew by 69% last year to 26 billion Drams.

They accounted for 61% of all deposits of the bank, according to its press release, which said that the volume of time individual deposits rose more than 27% in the fourth quarter of 2010. According to Central Bank of Armenia data, individual time deposits in the banking sector grew by 12.4% last year.

As part of its plan to expand the variety of deposits Ameriabank offered last December 2 a special deposit called ‘Learn the Cost of Money’ that attracted 2 billion Drams in fresh deposits in December alone which have risen to 3 billion Drams.

The press release said also Ameriabank will continue this trend in 2011 as well by offering new types of deposits. In February it has offered Gold Structural deposit , which is equal to investment in gold, but the difference is that the bank guarantees return of the deposited money even if gold prices drop.

It provides depositors with a chance to earn money from world markets without running any risk of losing the deposited money. Golden Structural secures also fixed interest profit.

‘Although Ameriabank is an investment corporate bank it continues to attach due attention to development of new packages of products for its individual clients,’ the press release said.

‘The growing trust of the public in our bank, its flexible tariff policy are key to increasing both the volume and number of our individual deposits,’ it added.

The Ameriabank CJSC is an investment corporate bank providing investment, corporate and limited retail banking services in a package. Ruben Vardanyan is the chairman of the bank’s directorial board and Artak Hanesyan is the director general. Troika Dialogue, one of Russia’s leading investment companies, is a strategic partner to Ameriabank. ($1 – 366.6 Drams). -0-