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%),

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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

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In the first quarter of 2017 Armenia-based commercial banks’ expenses on wages increased by 8% from the year before to 14.4 billion drams, making 53.7% of their total administrative and other operating expenses

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