YEREVAN, May 18. /ARKA/. Net cash outflow from Armenian banks in the first quarter of 2012 amounted to 102.9 billion drams, according to an analysis made by ARKA, based on banks’ interim financial statements. As of March 31 cash balance and equivalent  funds in banks stood at 303.6 billion drams, down from 406.5 billion drams in beginning of the first quarter.

Some 90.7 billion drams of that amount resulted from operation activities, 8.1 billion drams were investments and 6 billion drams resulted from financial activities. The effect of exchange rate changes on cash and cash equivalents was positive making more than 1.9 billion drams.

Three banks posted net cash inflow of 18 billion drams and eighteen banks posted a total of 120.9 billion drams outflow. ($1 - 395.98 drams).  -0-