YEREVAN, November 28. /ARKA/.  Training expenditures of Armenia’s commercial banks amounted to a total of 231.4 million drams as of the end of September, an increase of 2.25% compared to the year before, according to the banks’ quarterly reports for Q3.

Five banks have not reported any information on training for the quarter (as compared to four banks the year before).

An analysis by ARKA showed ProCredit bank is the leader in training expenses, with a total of 135.46 million drams spent over nine months, a 24.46% increase against the same period of 2012. ProCredit bank accounted for 58.5% of the overall training expenditures of all banks.

HSBC Bank Armenia comes second with 37.7 million drams (34.2% increase).
Ardshininvestbank is the third with 22.6 million drams spend on training over nine months (6.5% reduction from the same period of 2012).

There are currently 21 commercial banks with 481 branches in Armenia. ($1=404.00drams).  -0-