17.05.2016 17:04
YEREVAN, May 17. /ARKA/. Armenia-based banks' overall expenses in the first quarter of 2016 decreased by 3.81% from the year before to 26.1 billion drams, according to an ARKA news agency's study, based on the financial statements of the banks.
The banks' administrative expenses in the first quarter of 2016 decreased by 2.16% when compared to the first quarter of 2015 to 20.2 billion drams, including a 2.25% cut in salary costs to 13.3 billion drams.
Other administrative expenses slashed by 9% to about 6 billion drams. More specifically, depreciation expense fell by 7.28% to 2.9 billion drams, while advertising costs declined by 6% to 757 million drams.
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