{"id":94085,"date":"2015-12-28T14:29:13","date_gmt":"2015-12-28T14:29:13","guid":{"rendered":"https:\/\/armbanks.am\/2015\/12\/28\/244046\/"},"modified":"2024-12-15T13:21:42","modified_gmt":"2024-12-15T13:21:42","slug":"deposits-in-armenian-banks-grew-by-9-percent-in-12-months","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2015\/12\/28\/94085\/","title":{"rendered":"Deposits in Armenian banks grew by 9 percent in 12 months"},"content":{"rendered":"<p><strong>YEREVAN, December 28. \/ARKA\/.<\/strong> The total amount of deposits in Armenian banks grew by 9% in the outgoing year, the chairman of the Central Bank Artur Javadyan said last Friday. According to him, the growth was secured by a rise in private deposits, which he said is an indication of financial stability.<\/p>\n<p>He said one of the major legislative changes made to encourage banks to extend more long-term loans was the Central Bank\u2019s decision to reduce the amount of mandatory reserves for attracted long-term funds.<\/p>\n<p>On October 26 the Armenian parliament passed also a bill to revise the law \u201cOn guaranteeing compensations for bank deposits of natural persons\u201d, providing for an increase in the size of insured deposits of individuals by 2.5 times. As a result, the maximum amount of insured bank deposit in Armenian currency grew to 10 million drams from 4 million drams, while the amount of deposits in foreign currency has been raised to the equivalent of 5 million drams from 2 million drams. According to the regulator, the move allows to insure 95% of all deposits.<\/p>\n<p>According to the National Statistical Service, the amount of resident deposits in the banks as of late August 2015 stood at 1.422.1 trillion drams (a decline of 0.8% from the previous month). The deposits in drams stood at 497.5 billion drams (a decline of 3%), while deposits in foreign currency grew by 0.4% to the equivalent of 924.5 billion drams.<\/p>\n<p>Javadyan also said the lending has soared by more than five times in the last 7 years, despite adverse economic developments across the globe and Armenia. He said the lending grew by 26% a year on average, while the ratio of lending to GDP grew by 3.5 times to 48 percent. ($ 1 &#8211; 478.97 drams). &#8211;0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The total amount of deposits in Armenian banks grew by 9% in the outgoing year, the chairman of the Central Bank Artur Javadyan said last Friday. According to him, the growth was secured by a rise in private deposits, which he said is an indication of financial stability<\/p>\n","protected":false},"author":1,"featured_media":168555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12163,12164],"class_list":{"0":"post-94085","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-banks","11":"tag-deposits"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/94085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=94085"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/94085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/168555"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=94085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=94085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=94085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}