Armenian banks’ time deposits grow by 12 percent in second quarter to about 667.9 billion drams

24.08.2013 12:41
Armenian banks’ time deposits grow by 12 percent in second quarter  to  about 667.9 billion drams

YEREVAN, August 24. / ARKA /. Armenia’s 21 banks’ time deposits of individuals and private entrepreneurs saw an almost 12 percent rise in the second quarter of the year when compared to the beginning of the year,  to  about 667.9 billion drams as of June 30, according to interim financial statements of the banks for the second quarter.

The largest bank by size of time deposits was the Russian-owned VTB Bank (Armenia), which held 11.12% (over 74 billion drams) of all time deposits, an increase of 26 percent from the beginning of the year.

The Russian-owned bank was followed by Unibank with  about 72.6 billion drams worth time deposits (10.33 percent growth), Ardshiinvestbank with more than 61.4 billion drams worth time deposits (11.66% growth), ACBA-Credit Agricole Bank - 57.4 billion drams worth time deposits (up 14.55%) and Armbusinessbank - 57.3 billion drams worth time deposits (a decline of 15.28%).

According to ARKA numbers, the total amount of all deposits of physical persons and legal entities in Armenian banks stood at 1. 340.9 trillion drams as of June 30. The banks’ aggregated liabilities stood at more than 2. 213.9 trillion drams. ($ 1 - 406.08 drams). -0 -


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