Armenian banking system’s per-employee profit averages AMD 2.7 million in Jan-Sept 2010

24.11.2010 18:53

YEREVAN, November 24. /ARKA/. Armenian banking system’s profit per one employee averaged AMD 2,725,000 or $7,200 in Jan-Sept 2010.

Analysis of commercial banks’ reports shows that the banking system’s monthly per-employee profit amounted to AMD 302,800 ($801.1) at the mentioned period.

Per-employee assets amounted to AMD 164,546 or $435,300 by late September.

Some 8,826 people worked at the 21 Armenian commercial banks and their profits totaled AMD 2451.3 million (63.6 million) in Jan-Sept 2010.

Mellat Bank, with its AMD 14.9 million ($39.400), was the biggest per-employee profit-gainer in Jan-Sept 2010.

One employee ensured monthly profit of AMD 1,654,800 ($4,400) to the bank at this period. Mellat Bank’s per-employee assets amounted to AMD 718.9 million ($1,901,900) in late September. This was the best indicator in Armenian banking system.

HSBC Bank Armenia showed the second best result among Armenian commercial banks in Jan-Sept 2010.

Its per-employee profit was AMD 8.3 million or $21,800 at the mentioned period (monthly AMD 917,300 or $2,400).

Ameriabank came third in this per-employee profit ranking. Its one employee brought AMD 6.5 million or $17,200 (monthly AMD 721,400 or $1,900) to the bank.

Armswissbank, with AMD 6 million or $16,100 per-employee profit, and Armenian Development Bank, with AMD 5.9 million or $16,100, were singled out in Jan-Sept 2010 for their effective management of personnel as well.

Aggregate per-employee profits of all the mentioned banks exceeded AMD 5.5 million.

Analysis of Armenian banks’ activities shows that one bank’s per-employee profit exceeded AMD 14.5 million in Jan-Sept 2010.

Four banks had over AMD 5.5 million per-employee profits in Jan-Sept 2010 and 12 banks less than AMD 1 million.

Two banks sustained losses. ($1 = AMD 362.09).

Table. Effectiveness of personnel administration in Armenian banks at the #rd Q 2010.*

Ranks	Banks	The number of employees	Per-employee profit, thousand drams	Per -employee assets, thousand drams	Per-employee operational profit, thousand drams
1	Mellat Bank	39	14,893	718,863	27,270
2	HSBC Bank Armenia	364	8,256	351,111	24,972
3	Ameriabank**	320	6,493	476,501	17,761
4	Armswissbank	81	6,095	403,558	16,675
5	Armenian Development Bank	111	5,899	196,420	13,127
6	Prometey Bank	131	4,879	196,116	11,195
7	Inecobank	425	3,681	123,239	8,919
8	Armbusinessbank	501	3,420	234,625	10,346
9	VTB Bank (Armenia)	958	3,330	113,043	8,238
10	ACBA-Credit Agricole Bank	915	3,230	188,781	11,577
11	Artsakhbank	458	2,911	119,068	8,117
12	Araratbank	346	2,835	121,964	7,245
13	Converse Bank	564	2,659	140,891	7,816
14	Areximbank – Gazprombank Group	359	1,804	156,915	8,033
15	Ardshininvestbank	1,068	1,406	107,653	6,098
16	Unibank	609	1,384	177,371	8,850
17	Anelik Bank	444	1,032	118,659	8,155
18	BTA Bank	135	595	58,705	5,529
19	Byblos Bank Armenia	78	537	283,259	13,806
20	Armeconombank	659	-138	81,515	5,054
21	ProCredit Bank	261	-456	80,025	5,876
	Total	8,826	2,725	164,546	9,438