Some banks begin charging large customers to deposit their money in euros
21.10.2014 18:23
YEREVAN, October 21. / ARKA /. Several global banks have begun charging large customers to deposit their money in euros, a rare move that could have costly implications for investors and companies that do business in -Europe, according to news reports.
The actions are driven by policies from the European Central Bank, which in June became the largest central bank to impose a negative interest rate on deposits — meaning banks are paying to park their money with the ECB.
The effort is designed to encourage banks to instead use that money to lend. Now, instead of paying customers interest on their euro accounts, as they have done in the past, some banks have started charging them.
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Deposits in Armenian banks up 1.3 percent in late July to 1.7 trillion drams
03.09.2014 18:57
The total amount of deposits in all 21 Armenian commercial banks stood at about 1.7 trillion drams as of late July, having grown by 1.3 percent from the previous month, according to the numbers of the National Statistical Service (NSS), released today
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Households’ deposits in foreign currencies in Armenia grow 2.5% to AMD 573.5 billion in May
11.07.2014 16:05
Households’ deposits in foreign currencies in Armenia’s commercial banks totaled AMD 573.5 billion in late May 2014 – 2.5% month-on-month growth, the Central Bank of Armenia reports on its website
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Deposits in Armenia-based banks grow by 22 percent to 1.6 trillion drams
07.05.2014 18:20
The total amount of deposits in Armenia-based 21 commercial banks amounted to about 1.648 trillion drams in late March 2014, representing, a 22.2% increase from March 2013, the National Statistical Service (NSS) said
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Bank deposits rose by 22.4% to 1.5trln drams in Armenia in February
04.04.2014 14:54
Deposits in Armenia’s commercial banks exceeded 1,551.5 billion drams as of the end of February, an increase of 22.4% compared to February 2013, ArmStat told ARKA
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Government- approved bill extends protection of deposits to corporate customers
06.03.2014 20:31
The Armenian government has approved today a bill motioned by lawmaker Hrant Bagratyan from the oppositional Armenian National Congress
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Foreign currency household deposits at AMD 512.2 bln in Armenia in October
13.12.2013 14:49
Foreign currency household deposits in Armenia’s commercial banks totaled in 512.2 billion drams in October 2013, which was 16.1% higher from the beginning of the year, the Central Bank posted on its official website
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Total amount of time individual and private entrepreneurs bank deposits increased by 5.4% in third quarter to 704.4 billion drams
27.11.2013 17:39
The total amount of time deposits kept by individuals and private entrepreneurs in 21 Armenia-based commercial banks increased by 5.4% in the third quarter from the previous one to about 704.4 billion drams as of September 30, according to the banks’ interim financial reports for the third quarter
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Chzmachyan: Dwindling flow of foreign investments into armenian banks drives deposit interest rates down
07.10.2013 16:19
Samvel Chzmachyan, head of the Union of Banks of Armenia, explains the current upward motion of interest rates on deposits by the dwindling money flow from international financial institutions to Armenian banks
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Deposits at Armenia’s commercial banks shrink 1.1% to AMD 1420.9 billion in July
09.09.2013 16:54
Deposits at Armenia’s commercial banks totaled AMD 1420.9 billion in late July after shrinking 1.1% since late June, the Central Bank of Armenia reports
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