Deposits in Armenian banks drop by 3.9% in April to over 2.6 trillion drams

ArmBanks, Armenia
Deposits in Armenian banks drop by 3.9% in April to over 2.6 trillion drams

31.05.2018 18:56

YEREVAN, May 31. / ARKA /. The total amount of deposits in Armenian banks at the end of April 2018 stood at 2.539.4 trillion drams, down by 103.8 billion drams (about $214 million) or 3.9% from the previous month according to numbers, released by the National Statistical Committee of Armenia.

Resident deposits in April totaled 2.066.7 trillion drams (2.1% decline). Deposits in Armenian drams decreased by 1.8% from the previous month to 948.9 billion drams, and deposits in foreign currency fell by 2.3% to the equivalent of 1.117.7 billion drams. Besides, in April, deposits of non-residents decreased by 11% to 472.7 billion drams.

Earlier, Central Bank chairman Artur Javadyan noted the political events in April forced some depositors to early termination of their contracts. According to him, now more than 70% of them are back to banks again. ($ 1 – 482.83 drams). -0-

Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.

Direct link to this article: https://www.armenianclub.com/2018/06/01/deposits-in-armenian-banks-drop-by-3-9-in-april-to-over-2-6-trillion-drams/

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS