ARKA News Agency presenting payroll ranking of Armenian banks for Jan-Sept 2016

28.11.2016 14:16
ARKA News Agency presenting payroll ranking of Armenian banks for Jan-Sept 2016

YEREVAN, November 28. /ARKA/. ARKA News Agency is presenting the payroll ranking of Armenian banks for Jan-Sept 2016.

The agency’s analysis shows that the banks have spent AMD 40.7 billion over a period between January and September 2016 for paying wages to their personnel – 1.4% more than at the same period a year earlier.

As many as 11,363 people worked at the country’s banking sector in late June 2016.

ACBA-CREDIT AGRICOLE BANK, VTB Bank (Armenia), Ameriabank, Ardshinbank and Inecobank are top five banks in ARKA News Agency’s ranking.

ACBA-CREDIT AGRICOLE BANK, which is topping the ranking, paid AMD 5.3 billion in Jan-Sept 2016 to its employees showing a 15-percent year-on-year growth. ACBA-CREDIT AGRICOLE BANK is also singled out for the greatest number of employees – 1,309 people.

VTB Bank (Armenia), with AMD 4.3 billion spent for paying salaries and 6.1% year-on-year growth, is ranked second. The bank is second also for the number of its employees – 1,180 people.

Ameriabank came third in the ranking. Its payroll expenses totaled AMD 3.9 billion in Jan-Sept 2016 (7.2% year-on-year decline). The bank had 582 employees in late September.

Ardshinbank is placed fourth in the ranking. Its payroll fund amounted to AMD 3 billion in Jan-Sept 2016, shrinking by 10.4%, compared with the same period a year before. As many as 1,041 people worked at the bank in late September.

Inecobank, with its AMD 2.9 billion, 45.6% year-on-year growth and 815 employees, ranked fifth.

Eight banks had their payroll funds reduced in Jan-Sept 2016, compared with the same period a year earlier, and Byblos Bank was singled out for the most dramatic, 36.6-percent reduction.

The ranking is based on ARKA News Agency’s ‘Banks of Armenia’ Bulletin.

All those who want to receive the Bulletin should apply to the agency’s marketing division (е-mail: sales@arka.am). --0----

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