YEREVAN, November 8. /ARKA/. In the first nine months of 2017 expenses of 17 Armenia-based commercial banks on advertisement and representation increased by 11% from the year before to 2.8 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 more than doubled from the year before to 545.1 million drams. Ameriabank’s expenses grew by 8.7% to 479 million drams. Ardshinbank’s expenses surged by 21.2% to 354 million drams, ACBA-CREDIT AGRICOLE BANK’s expenses declined by 7.9% to 343.5 million drams and those of Conversebank fell by 30.7% to 226 million drams.
The total administrative and other operation expenses of the banks fell by 1.41% to 82.9 billion drams. ($1 – 483.86 drams). -0-
