HERE AND BEYOND
Deposits with Ameriabank continue to grow
Media Room

The total volume of time deposits with Ameriabank drastically increased (119.3%) in December 2008. The growth of time deposits of physical entities constituted 14.6%, and legal entities 150.4%. Taking into consideration the decrease in the volume of deposits in the Armenian banking system, the aforementioned growth of Ameriabank’s deposit funds is attributed to the comprehensive insurance program it offers, aimed at enhancing citizens’ trust in the Armenian banking system. 
 
The current year too, started with intensive growth of physical entities’ time deposits with Ameriabank. Specifically, in January 2009, the total volume of time deposits increased by 10.8%, and time deposits of physical entities grew by 46.4%. As compared to the same month in 2008, the volume of time deposits in Ameriabank increased by 3.7 times, and the time deposits of individuals increased by 4.3 times. These indicators as compared to the same period of the past year are notable as well. Particularly, as of 31.01.09, the volumes of time deposit as compared to the same indicator as of 31.01.08 increased by 3.7 times, and the time deposits of individuals increased by 4.3 times.
 
It is noteworthy that according to annual financial statements disclosed by Armenian banks, in Q4 2008, the total volume of time deposits of individuals fell by 2.7%. According to the statistical publication of the Central Bank of Armenia on “Deposits of Commercial banks, by economy sectors”, in December, time deposits of residents reduced by 5.4%, and time deposits from households increased by 0.1% only, due to deposits in foreign currency.

Updated 25.07.2009, 11:22
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