YEREVAN, May 18. /ARKA/. Legal entities' demand deposits in Armenia's banks have shrunk 0.53% over the first quarter 2016 to AMD 544.4 billion, according to a fresh issue of ARKA News Agency's 'Banks of Armenia' bulletin.

Ameriabank, VTB Bank (Armenia), HSBC Bank Armenia, Ardshinbank and ConverseBank are singled out in the bulletin for the largest amounts of deposits, which totaled AMD 339.7 billion and made up 62.4% of legal entities' aggregate deposits in all the banks of Armenia in the 1st Q 2016.

Ameriabank, with its AMD 87.5 billion, is topping ARKA News Agency's ranking, though the bank accounted for a 5.87% decline in the first quarter.

VTB Bank (Armenia), with AMD 77.3 billion and a 10.7% growth, came second in the ranking.
HSBC Bank Armenia ranked fourth (AMD 70 billion and 9.37% decline) and Ardshinbank fifth (AMD 58.9 billion and 5.3% decline).

Aggregate deposits of legal entities, individuals and private entrepreneurs have grown 3.33% since the beginning of this year to AMD 1 873.9 billion in late March. ($1 – AMD 478.74). --0----