Non-resident deposits grow 51% in Armenian banks
YEREVAN, AUGUST 12, ARMENPRESS. The loan and deposit volumes in Armenia grew significantly as of late June 2019 compared to the same period of 2018, according to the Central Bank.
According to the report, the volume of loans provided by commercial banks to residents totaled 2 trillion 934 billion drams, which is an increase of 13% compared to the previous year, while the volume of deposits grew 18% - totaling 3 trillion 90 billion drams.
In June 2019, the volume of consumer and mortgage loans was the most to increase in the loan portfolio – 36% and 34% respectively.
Meanwhile, the volume of deposits of non-residents in Armenian banks grew 51% - totaling 813 billion drams, while the deposits of residents grew 9% - totaling 2 trillion 277 billion drams. Demand deposits of residents grew 11,2%, while term deposits grew 20,8%.
Edited and translated by Stepan Kocharyan