Deposits in Armenian banks reach record high

YEREVAN, JUNE 29, ARMENPRESS. The total deposit portfolio in Armenian banks amounted to 5 trillion 147 billion 288 million drams in May 2023, Prime Minister Nikol Pashinyan said at the June 29 Cabinet meeting, describing the figure as a historic record.

“The total deposit portfolio in the banks of the Republic of Armenia amounted to five trillion one hundred forty seven billion two hundred and eighty eight million drams in May of 2023, which is a record number in the history of Armenia. The previous record was set in April, and it is improving. We’ve had a growth of 12 billion 841 million drams compared to last month. These are the deposit accounts where citizens keep their money. I have to note that compared to May 2018 the deposit portfolio has nearly doubled and is higher by 2,5 trillion drams or 96,7%,” Pashinyan said.