Yerevan /Mediamax/.The deposits outflow from the Armenian banking system is mainly conditioned by difficulties in economy real sector,## Deputy Chairman of the Central Bank (CB) of Armenia Vache Gabrielyan stated in an interview to Mediamax today.

“Certain branches of Armenian economy, in particular, mineral resource industry, are living though difficulties because of the global crisis, and invest the means, deposited in banks, into their economic activity”, Vache Gabrielyan stated.

He noted that in October, the share of outflow of individuals’ deposits was minor. Vache Gabrielyan noted that in November the outflow of deposits was not as significant as in October.

“Despite the reduction of crediting growth speeds, its growth makes 58% as to the whole year, which is a quite impressive index”, CB Deputy Chairman stated.

Mediamax notes that the volume of deposits, attracted by Armenian commercial banks as of the end of October, 2008, reduced, as compared to September, for 15bln 859mln AMD, making 475bln 450mln AMD.

At that, the credit portfolio of Armenian commercial banks in October made 630bln 371mln AMD, having increased, as compared to September, for 16bln 227mln AMD.