Sun, 27 July
35.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Armenian banks’ deposits rise to 1,560.4bln drams in Q1

YEREVAN, May 8. /ARKA/.  Total deposits from legal entities and individuals in Armenia’s banks rose by 3.21% to 1,560.4 billion drams in the first quarter.

Information from ‘Banks of Armenia” Q1 2014 bulletin prepared by ARKA shows the following banks are on the top five list in terms of deposits in the first quarter – Ameriabank, Ardshininvestbank, HSBC Bank Armenia, Bank VTB (Armenia) and Unibank. These five banks together account for about half of all deposits.

Ameriabank maintained its leadership as of the end of Q1. Its deposits rose by 25.01% to over 212.4 billion drams.

Ardshininvestbank placed the second with a total of 179.7 billion drams in deposits (increase of 24.87% over the quarter). Deposits in HSBC Bank Armenia amounted to over 162.2 billion drams (a 2.67% increase).

Deposits of Bank VTB (Armenia) hiked by 10.82 to about 154.1 billion drams as of the end of the reporting quarter.

Unibank’s deposits dropped by 6.57% in the period to 113.5 billion drams.

There were 21 commercial banks operating in Armenia as of the end of March. ($1=413.29drams). –0-

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img