YEREVAN, December 13. /ARKA/. Armenian Anelik bank said its portfolio of individual deposits surged by 57% in the first 11 months of the outgoing year or 6 billion drams to 17.2 billion, According to a bank’s press release, the portfolio grew by about 15% or 2.1 billion drams over the last two months alone. Deposits in dram were said to have grown by 107% to 4 billion drams as of November 30.

Armen Arevyan, head of the bank’s department in charge of public relations and advertising, was quoted as attributing the unprecedented growth to the trust of customers in the bank, not to high interest rates because other banks offer even higher rates.

He said the main difference between Anelik and other banks is that all depositors of Anelik Bank are allowed to take back their deposits or part of them at any time and receive also the interests.

Bank Anelik was created in 1990. It is the only bank in Armenia that has a subsidiary bank in Russia OOO Anelik Ru. In 1997 it created its own payment and settlement system which now operates in 90 countries. As of September 30, the total capital of the bank amounted to 15.8 billion drams, assets stood at 67.8 billion Drams and liabilities at more than 52 billion Drams. ($1-382, 67 drams).  -0-