YEREVAN, May 20. /ARKA/. In the first quarter of 2017 expenses of 17 Armenia-based commercial banks’ on advertisement and representation increased by 3.51% from the year before to 783.5 million drams, ARKA news agency has found out after analyzing the banks’ financial reports.
The leading five banks by size of expenses on advertisement and representation were Ameriabank, Ardshinbank, Armeconombank, ACBA-CREDIT AGRICOLE BANK and Conversebank.
Ameriabank’s expenses grew by 11% from the year before to 159.6 million drams. Ardshinbank’s expenses surged by 24% to 125.3 million drams, those of Armeconombank grew by 3.6 times to 104.2 million drams, ACBA-CREDIT AGRICOLE BANK’s expenses declined by 40.4% to 81.7 million drams and those of Conversebank fell by 12% to 63.2 million drams.
The total administrative and other operation expenses of the banks grew by 2.56% to 26.8 billion drams. ($1 – 483.86 drams). -0-
