At the end of April 2018, the total volume of term deposits and demand accounts of residents in RA banks was equivalent to 2 trillion 66.7 billion drams.

At the end of March, that amount was 2 trillion 111.8 billion drams. In other words, during April, the deposit portfolio of the banks of the Republic of Armenia decreased by 45.1 billion drams or 2.2%. Economic commentator Babken Tunyan writes about this, referring to the data published by the Central Bank.

“The total volume of term deposits and demand accounts of non-residents in RA banks decreased from 531.4 billion drams in March 2018 to 472.7 billion drams in April. During April, the deposit portfolio of non-residents decreased by 58.7 billion drams or 12.4%.

In general, the volume of term loans and demand accounts of residents and non-residents decreased by 103.8 billion drams (by 3.9%) and amounted to 2 trillion 539.4 billion drams at the end of April, Tnunyan said.

Of course, according to him, political events played a big role in this decrease, but in order to clearly assess the impact of the revolution factor, a separate in-depth analysis is needed, b4b reports.

We should also remind that according to Artur Javadyan, the withdrawal of deposits was restored during May. The May data will be published soon, and it will be possible to say exactly what part of the withdrawn deposits returned to the bank accounts.