YEREVAN, May 20. /ARKA/. At the end of the first quarter of 2021 the total bank deposits in Armenia were 4.9% or 173 billion drams up from the same time span of 2020 standing at 3.7 trillion drams, Executive Director of the Union of Banks of Armenia (UBA) Seyran Sargsyan said at a press conference on May 19.

He said  at the beginning of 2020, the deposit were growing, but after the coronavirus pandemic they began to decline, and began to grow again at the end of May and during the summer. After the war in Nagorno-Karabakh they decreased slightly again, however when the hostilities were over they began to grow again.

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At the end of April 2019, total deposits in Armenia-based commercial banks stood at 3,040,9 trillion drams, an increase of 61.5 billion drams or 2.1% from the previous month, according to the Central Bank

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At the end of March, 2019 the total amount of deposits in Armenia-based commercial banks stood at 2.979.3 trillion drams, having decreased by 25.1 billion drams or 0.84% from the previous month

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