Armenian banks’ salary fund grew by 6.4% in 9 months

13.11.2017 16:30
Armenian banks’ salary fund grew by 6.4% in 9 months

YEREVAN, November 13, /ARKA/. In the first three quarters of 2017 Armenia-based commercial banks’ expenses on wages increased by 6.4% from the year before to 43.2 billion drams, according to ARKA news agency’s financial and economic bulletin "Banks of Armenia" (performance indicators for the third quarter of 2017).

The top five banks by size of expenses on wages were ACBA-CREDIT AGRICOLE BANK, VTB Bank (Armenia), Ameriabank, Ardshinbank and HSBC Bank Armenia.

ACBA-CREDIT AGRICOLE BANK’s salary fund in the first three quarters of 2017 amounted to 6.2 billion drams, having increased by 17.25% from the same indicator in 2016. ACBA-CREDIT AGRICOLE BANK was also the leader in terms of the number of employees – 1,335 people.

The salary fund of VTB Bank (Armenia) totaled 5.1 billion drams (an increase of 18.93%), Ameriabank’s salary fund stood at 4.4 billion drams (a 14.4% increase), that of Ardshinbank was worth 3.8 billion drams (an increase of 27.9%) and the salary fund of HSBC Bank Armenia stood at 2.9 billion drams (an increase of 8.6%). ($1 – 487.29 drams). -0-


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