Tuesday, August 30 2011 15:23
Monthly salary of employee in banking system of Armenia amounted to 299 thsd drams or $810 by 1 July 2011
Arminfo. In Jan-June 2011 the average monthly salary of one employee in the banking system of Armenia made up 299,000 AMD or $810 - 0.1% lower than a year before. During the period the total salary costs of the commercial banks of Armenia totaled 16.9bln AMD ($45.9mln, 8.9% annual growth). The number of employees totaled 9,465 - 9.2% more than a year before. 10 banks registered drop in average monthly salary (Ameriabank showing the biggest drop - 23.8%). 2 banks registered decline in the number of employees (ProCredit Bank and BTA Bank - 2-6%).
In Jan-June 2011 Mellat Bank showed the highest average monthly salary per employee - $1,900 or 699,000 AMD - 47.3% annual growth. This bank has the smallest staff - 40 employees (5.3% annual growth). HSBC Bank Armenia is the second with $1,700 or 612,000 AMD (0.5% annual drop, the number of employees being 381 - 4.4% annual growth), Byblos Bank Armenia - the third with $1,600 or 597,000 AMD (8.2% annual growth, 87 employees - 6.1% more than a year before), ACBA-Credit Agricole Bank - the fourth with $1,200 or 423,000 AMD (4.5% annual drop, 940 employees - 4.6% annual drop), Armswissbank and Ameriabank - the fifth with $1,100 or 389,000-397,000 AMD (14.2-23.8% annual drop, 88 and 366 employees respectively with respective 11.4% and 11.6% annual growths). In Jan-June 2011 BTA Bank redoubled its salary while its staff was reduced by 2.2% to 132 employees. Ardshininvestbank has the biggest staff in the banking system of Armenia - 1,131 (5.4% annual growth) with average monthly salary being $596 or 220,000 AMD (9.5% annual growth). VTB Bank Armenia is the second with 1,023 employees (12.4% annual growth) paying them $711 or 262,000 AMD a month (18.4% annual grow). ACBA-Credit Agricole Bank is the third with 940 employees (4.6% annual growth) paying them $1,200 or 423,000 AMD a month (4.5% annual drop). Armeconombank is the fourth with 784 employees (20.2% annual growth) paying them $565 or 208,000 AMD a month (12.2% annual drop). Unibank is the fifth with 650 employees (7.3% annual growth) paying them $805 or 297,000 AMD a month (1.6% more than in Jan-June 2010). VTB Bank Armenia has the biggest branch network followed by Ardshininvestbank, ACBA-Credit Agricole Bank, Armeconombank and Unibank.
Mellat Bank has the smallest staff - 40 employees - but pays them the highest monthly salary. ADB showed the highest annual growth in the number of employees - 25.2% or 27 to 134 employees (the salary grew by 0.4%).
The top three in salary costs in Jan-June 2011 are ACBA-Credit Agricole Bank - 2.4bln AMD, VTB Bank Armenia - 1.6bln AMD and Ardshininvestbank - 1.5bln AMD. HSBC Bank Armenia is the fourth - 1.4bln AMD, Unibank the fifth - 1.2bln AMD. ACBA-Credit Agricole Bank showed the biggest share of salary costs in the structure of administrative expenses - 70%.
To note, activity of Mellat bank starting the second half of 2010 is limited only with the inter-bank operations with the head bank. The growing volume of these operations are more evidence of its presence at the Armenian market only because of the political reasons.
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