News - Central Bank chief: Armenia residents’ deposits increased by about 25%

The recent events of September, caused by the Azerbaijani military aggression, did not affect the foreign currency deposits in Armenia’s banks. Martin Galstyan, Governor of the Central Bank of Armenia, stated this during a press conference Tuesday. According to him, at the end of September, compared to the previous month, there was a 0.7-percent increase in the bank deposits of Armenia’s residents, the demand deposits of legal entities went up by 4.9 percent, and the term foreign currency deposits of legal entities grew by 3.7 percent. As for the demand deposits of individuals, they increased by 4.7 percent, while foreign currency term deposits reduced by only 0.8 percent. "Accordingly, there is no tendency to withdraw foreign currency deposits from [Armenia’s] banks," Galstyan assured. And with respect to the amount of total bank deposits in Armenia, he noted that the increase in such deposits by the country’s residents was 25.2 percent compared to the same period of the previous year, and that is at a set exchange rate, and the growth of bank deposits of non-residents of Armenia was 16.8 percent.