YEREVAN, January 31. /ARKA/. Head of the Armenian Central Bank Martin Galstyan does not think that the outpacing growth of time deposits in AMD indicates any ‘tectonic’ shifts or abrupt developments in the market.
“I believe that the processes are proceeding in a natural way,” he said to a Tuesday press conference.
At the same time, he did not rule out that citizens, seeing the strength of the national currency and demonstrating a positive attitude to the regulator’s policy, prefer to keep more savings in drams.
Galstyan said that time deposits in AMD grew last year by 25.2%, and deposits in foreign currency by 4.8%, demand deposits also grew: AMD deposits by 35%, foreign currency deposits by 32%.
“Aggregate deposits of resident individuals grew by 21.3%,” he noted.
According to the Central Bank, total bank deposits amounted to AMD 5.68 trillion at the end of 2023, of which AMD 4.32 trillion were residents’ deposits. ($1 – 403.96 drams) -0-.
