YEREVAN, November 24. /ARKA/. Armenian banking system’s profit per one employee averaged AMD 2,725,000 or $7,200 in Jan-Sept 2010.
Analysis of commercial banks’ reports shows that the banking system’s monthly per-employee profit amounted to AMD 302,800 ($801.1) at the mentioned period.
Per-employee assets amounted to AMD 164,546 or $435,300 by late September.
Some 8,826 people worked at the 21 Armenian commercial banks and their profits totaled AMD 2451.3 million (63.6 million) in Jan-Sept 2010.
Mellat Bank, with its AMD 14.9 million ($39.400), was the biggest per-employee profit-gainer in Jan-Sept 2010.
One employee ensured monthly profit of AMD 1,654,800 ($4,400) to the bank at this period. Mellat Bank’s per-employee assets amounted to AMD 718.9 million ($1,901,900) in late September. This was the best indicator in Armenian banking system.
HSBC Bank Armenia showed the second best result among Armenian commercial banks in Jan-Sept 2010.
Its per-employee profit was AMD 8.3 million or $21,800 at the mentioned period (monthly AMD 917,300 or $2,400).
Ameriabank came third in this per-employee profit ranking. Its one employee brought AMD 6.5 million or $17,200 (monthly AMD 721,400 or $1,900) to the bank.
Armswissbank, with AMD 6 million or $16,100 per-employee profit, and Armenian Development Bank, with AMD 5.9 million or $16,100, were singled out in Jan-Sept 2010 for their effective management of personnel as well.
Aggregate per-employee profits of all the mentioned banks exceeded AMD 5.5 million.
Analysis of Armenian banks’ activities shows that one bank’s per-employee profit exceeded AMD 14.5 million in Jan-Sept 2010.
Four banks had over AMD 5.5 million per-employee profits in Jan-Sept 2010 and 12 banks less than AMD 1 million.
Two banks sustained losses. ($1 = AMD 362.09).
Table. Effectiveness of personnel administration in Armenian banks at the #rd Q 2010.*
| Ranks | Banks | The
number of employees |
Per-employee profit, thousand drams | Per
-employee assets, thousand drams |
Per-employee operational profit, thousand drams |
| 1 | Mellat Bank | 39 | 14,893 | 718,863 | 27,270 |
| 2 | HSBC Bank Armenia | 364 | 8,256 | 351,111 | 24,972 |
| 3 | Ameriabank** | 320 | 6,493 | 476,501 | 17,761 |
| 4 | Armswissbank | 81 | 6,095 | 403,558 | 16,675 |
| 5 | Armenian Development Bank | 111 | 5,899 | 196,420 | 13,127 |
| 6 | Prometey Bank | 131 | 4,879 | 196,116 | 11,195 |
| 7 | Inecobank | 425 | 3,681 | 123,239 | 8,919 |
| 8 | Armbusinessbank | 501 | 3,420 | 234,625 | 10,346 |
| 9 | VTB Bank (Armenia) | 958 | 3,330 | 113,043 | 8,238 |
| 10 | ACBA-Credit Agricole Bank | 915 | 3,230 | 188,781 | 11,577 |
| 11 | Artsakhbank | 458 | 2,911 | 119,068 | 8,117 |
| 12 | Araratbank | 346 | 2,835 | 121,964 | 7,245 |
| 13 | Converse Bank | 564 | 2,659 | 140,891 | 7,816 |
| 14 | Areximbank – Gazprombank Group | 359 | 1,804 | 156,915 | 8,033 |
| 15 | Ardshininvestbank | 1,068 | 1,406 | 107,653 | 6,098 |
| 16 | Unibank | 609 | 1,384 | 177,371 | 8,850 |
| 17 | Anelik Bank | 444 | 1,032 | 118,659 | 8,155 |
| 18 | BTA Bank | 135 | 595 | 58,705 | 5,529 |
| 19 | Byblos Bank Armenia | 78 | 537 | 283,259 | 13,806 |
| 20 | Armeconombank | 659 | -138 | 81,515 | 5,054 |
| 21 | ProCredit Bank | 261 | -456 | 80,025 | 5,876 |
| Total | 8,826 | 2,725 | 164,546 | 9,438 |
– ARKA News Agency’s analysis based on banks’ financial reports for the 3rd Q 2010
