YEREVAN, February 26. / ARKA /. The Russian-owned VTB Bank (Armenia) boasted last year the largest amount of individual time deposits. The bank attributed the rise in time deposits by attractive terms, ‘which allow depositors to effectively and conveniently place their money in the bank."
The total amount of both individual and corporate deposits amounted last year to 140.8 billion drams, the bank said in a press release.
The amount of individual deposits soared last year by 41.2 % to 99.7 billion drams as time deposits increased by almost 43 percent to 84.6 billion drams, while individual demand deposits surged by 32.2 percent to 15.1 billion drams.
The amount of corporate deposits increased by 28.8% to 41.1 billion drams. Time corporate deposits surged by 79.4 percent to about 22 billion drams, and demand deposits amounted to about 19.1 billion drams.
VTB Bank (Armenia) is owned fully by Russian VTB Group. The bank runs 67 branches in Armenia, more than any other bank. ($ 1 - 412.73 drams). -0-