Sat, 19 July
26.1 C
Yerevan
USD: 383.74 RUB: 4.93 EUR: 450.05 GEL: 141.25 GBP: 521.81

Advertising and representation expenses of Armenian banks last year drop by 14.1%

YEREVAN, March 17, /ARKA/. The amount of advertising and representation expenses of Armenian commercial banks last year dropped by 14.1% from a year before to almost 2.5 billion Drams. According to an ARKA analysis, based on the banks’ financial reports for Q4, 2009, a bank spent on average 111.6 million Drams last year (or 9.3 million Drams a month) on advertising and representation.

According to the analysis, ACBA-Credit Agricole Bank was the leader spending 486.4 million Drams (by 1.5 times more than in 2008).

Unibank was second spending on advertising and representation 286.6 million Drams, by 42.4% less than in 2008. Bank Anelik cut its expenses on this spending item by 32.7% to 272 million Drams. Ameriabank was fourth spending by 18% more than in 2008-161 million Drams. Armbusinessbank was fifth-161 million Drams (31.2% growth from 2008). These five banks accounted for almost 60 percent of all banks’ spending on advertising and representation in 2009. There are 22 commercial banks in Armenia with 382 branches. ($1- 394. 48 Drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Euro falls by 1.14 drams against Armenian dram, as US dollar rises slightly

The average market exchange rate of the US dollar against the Armenian dram as of July 11, 2025, increased by 0.17 points compared to July 10 and amounted to 383.91 drams.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

In Armenia, bad loans worth over $1 million have been written off under the state support program – Ministry of Social Affairs

14,757 applications for writing off bad loans have been received in Armenia within the framework of the relevant state support program, which started on February 1, 2025.

Armenian government approved an agreement with the EIB for 50 million euros for the infrastructure development of Syunik

At a meeting on Thursday, the Armenian government approved a proposal to sign a financial agreement with the European Investment Bank (EIB) “Armenia - Sustainable Syunik Program, Special Investment Window 1 EFSD+” for 50 million euros.

LATEST NEWS

spot_imgspot_imgspot_img