Armenian commercial banks’ deposits and credits grew slightly in May, driven by AMD-denominated funds- WB

Banks
Всемирный банк, ВБ
Всемирный банк, ВБ

YEREVAN, 16 July. /ARKA/.   Armenian commercial banks’ deposits and credits grew slightly in May, mostly driven by AMD-denominated funds, according to the World Bank’s Armenia Monthly Economic Update – July 2024 review, published on Tuesday.

Total deposits grew by 3.2 percent (mom) in May, compared to marginal growth of 0.4 percent (mom) in April.

This was due to a 3.4 percent (mom) growth in AMD-denominated deposits. Credit expanded by 2.2 percent (mom), mainly due to a 2 percent (yoy) increase in AMD-denominated credit.-0-

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