An unprecedented activity was recorded in the banking sector in August, the chair of the Union of Banks of Armenia (UBA) Artak Anesyan told reporters on Friday

According to him, activity in August, which is considered a passive period in the banking sector, is higher than in December last year, although the end of the year is considered the most active.

Artak Anesyan added that the growth rate of deposits in the second quarter, compared to last year over the same period, amounted to 18%.

The Chair of the UBA noted that it is very important to work to increase the financial literacy of the population, and reduce the number of calls to financial intermediaries, whose activities very often cause dissatisfaction.