YEREVAN, November 8. /ARKA/. In the first 9 months of 2018 Armenia-based commercial banks’ expenses on salaries increased by 9.58% from the year before to 47.5 billion drams, making 51.7% of their total administrative and other operating expenses, according to ARKA news agency’s financial and economic bulletin "Banks of Armenia" (performance indicators for the third quarter of 2018).

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

ACBA-CREDIT AGRICOLE BANK’s salary fund amounted to 6 billion drams, by 5.2% more from the same indicator in 2017. The salary fund of Ameriabank totaled 5.7 billion drams (an increase of 30.35%),

VTB Bank (Armenia’s) salary fund stood at 5 billion drams (a drop of 2%), that of Ardshinbank was worth 3.7 billion drams (a drop of 3.4%) and the salary fund of Conversebank stood at 3.5 billion drams (an increase of 20.4%).

The total amount of administrative and other operating expenses of all 17 banks amounted to 91.8 billion drams (an increase of 10.7%). ($ 1 - 487.66 drams). -0-