YEREVAN, December 9. /ARKA/. There is no outflow of funds from Armenian banks, and the total  bank deposits have grown over 3.5 trillion drams, despite a difficult year and certain fluctuations, Executive Director of the Union of Banks of Armenia Seyran Sargsyan told reporters on Wednesday during a video conference organized by the Club of Economic Journalists.

“In the first three months of 2020, individual bank deposits increased, however, in April, due to the coronavirus pandemic, they sharply decreased and there was a small outflow, but in May and June the overall amount of deposits grew again,” Sargsyan said.

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Significant outflow of specialists from the Central Bank of Armenia is seen this year – 100 employees have quit the regulator over 2019, Arthur Javadyan, the central bank chairman, told journalists on Monday

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Cash outflow from Armenia dwindled by 20% in the first quarter of this year

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Armenian banks’ net cash outflow totaled AMD 37.6 billion in 2010.

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