YEREVAN, August 15. /ARKA/. In the first half of 2017 expenses of 17 Armenia-based commercial banks’ on advertisement and representation increased by 8% from the year before to 1.8 billion 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 Armeconombank, Ameriabank, Ardshinbank, ACBA-CREDIT AGRICOLE BANK and Conversebank.
Armeconombank’s expenses grew by 3 times from the year before to 337.9 million drams. Ameriabank’s expenses grew by 10.45% to 344.4 million drams. Ardshinbank’s expenses grew by 11.9% to 226.7 million drams, those of ACBA-CREDIT AGRICOLE BANK declined by 23.9% to 219.5 million drams and those of Conversebank fell by 27.5% to 134.7 million drams.
The total administrative and other operation expenses of the banks declined by 022% to 55.3 billion drams. ($1 – 487.27 drams). -0-
