YEREVAN, May 17. /ARKA/. Demand deposits of individuals and private companies in Armenia’s banks have shrunk 6.2% since the beginning of this year to AMD 200.3 billion in late March, according to a fresh issue of ARKA News Agency’ s ‘Banks of Armenia’ quarterly bulletin.

HSBC Bank Armenia, Ameriabank, VTB Bank (Armenia), ConverseBank and Inecobank are topping ARKA ranking with their aggregate demand deposits amounting to AMD 122.8 billion and making up 61.3% of the total amount of individuals and private companies’ demand deposits at Armenia’s banks.

HSBC Bank Armenia is singled out in the ranking for its AMD 41.3 billion, the largest amount of demand deposits, despite the bank accounted for a 4.6% decline in its demand deposit portfolio in the first quarter.

Ameriabank, with its AMD 26.3 billion and 18% decline came second in the ranking. VTB Bank (Armenia), with its AMD 24.9 billion and 5.54% growth, ranked third. ConverseBank ranked fourth with its AMD 18.3 billion and 1.4% decline and Inecobank fifth with AMD 11.91 and 0.93% decline. ---0----