YEREVAN, March 21. / ARKA /. Armenia-based Anelik Bank said today that on March 1 it had a total of 33.1 billion drams worth deposits, a 28.8% increase if compared to March 1, 2013. Of that amount 27 billion drams were individual deposits, an increase of 14.8% from the year before.
Thanks to a new kind of deposit in the national currency, the dram, effective from January 2014 offering a 14.5% interest rate per annum, private deposits surged by 1.4 billion drams in just two months, the bank said in a news release.
This figure represents a 56.5% rise from the same time span last year, indicating an increased customer trust in the bank, it said.
Hayk Mktrtchyan, deputy chairman of the bank in charge of business development, was quoted as saying that cooperation with customers has always been a priority for the bank, as well as deposit products.
"We are pleased by the dynamic growth of private deposits, which is evidence of our successive work for the past years," he said.
Anelik Bank created in 1990 to handle financial flows between Armenia and Russia is now fully owned by Lebanese CreditBank SAL. -0-