YEREVAN, February 14. /ARKA/. Time deposits from individuals amounted to 741.7 billion drams over 2013, an increase of 25.4% against the year before, says the Central Bank of Armenia in its review on commercial banks for the fourth quarter.

Time deposits from organizations totaled 257.4 billion drams, a 38.5% increase over the year.
Demand deposits rose by 46.8% to 522.1 billion drams in the reporting year.

According to the Central Bank of Armenia, liabilities to other banks and financial institutions amounted to 765.9 billion drams (2.2% increase), liabilities to the government were 59.4 billion drams (12.5% reduction), interest payments were about 25 billion drams (10.1% increase) and other liabilities amounted to 115.9 billion drams (11.3% increase).

As of the end of December 2013, total liabilities of Armenian commercial banks amounted to 2,487.7 billion drams, an increase of 19.7% over the year.

There are currently 21 commercial banks with 485 branches operating in Armenia. ($1=412.30drams). -0-