Armenian banks spent 5.8 billion drams on advertising and representative expenses in 2018

01.03.2019 18:47
Armenian banks spent 5.8 billion drams on advertising and representative expenses in 2018

YEREVAN, March 1. /ARKA/. Armenia-based 17 commercial banks spent a total of 5.8 billion drams on advertising and representative expenses in 2018, by 24.15% more than in 2017, according to ARKA news agency’s ranking of the top 10 advertiser banks.

The leading bank by size of these expenses was Armeconombank, which spent 717.5 million drams, by 4% more than in 2017. Ameriabank was second with 702.5 million drams (an increase of 1.57%).

It was followed by Conversebank - 634.7 million drams (an increase of 2 times), Ardshinbank - 591.2 million drams (an increase of 8. 2%), ACBA-CREDIT AGRICOLE BANK - 516.7 million drams (an increase of 25%), Unibank - 417.4 million drams (an increase of 42.16%), IDBank - 345.7 million drams (an increase by 4.5 times), Armbusinessbank - 301.1 million drams (an increase of 22.8%), Evocabank - 296.6 million drams (a 9.7% decline) and Inecobank –197.8 million drams (a growth of 68.3%).

The total amount of administrative and other operating expenses of the banks amounted to 130.7 billion drams (an increase of 10%). ($1 - AMD 489.72). -0-


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