Thursday, November 8 2012 21:48

Bank employees' wages in Armenia up 18.6% over year


ArmInfo. By 1 Oct 2012, the average monthly salary of a bank employee in Armenia totaled 298 thsd AMD, or $732 (by 18.6% more than by 1 Oct 2011).

According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), the commercial banks' summary expenditure on labor remuneration totaled to 29.1 bln AMD ($71.7 mln, 14.1% growth versus Jan-Sept 2011). The total number of employees was 10,880, which is by 11.8% or by 1144 people more than over the same period of 2011. The average monthly salary of one employee dropped in 12 out of the 21 commercial banks of Armenia.

The highest average monthly salary for Jan-Sept 2012 was fixed in Mellat Bank - $1.9 thsd or 784 thsd AMD (11.2% growth versus Jan-Sept 2011), with the total number of employees being 39 (the lowest indicator in the banking system). HSBC Bank Armenia was the second with $1.5 thsd or 619 thsd AMD (0.3% decline versus Jan-Sept 2011), with the total number of employees being 389 (2.6% rise). Byblos Bank Armenia was the third - $1.4 thsd or 591 thsd AMD (4.7% decline versus Jan-Sept 2011), and the total number of its employees was 94 (8% rise). ACBA-Credit Agricole Bank was the fourth - $1.118 thsd or 454 thsd AMD (10.4% growth versus Jan-Sept 2011), and the total number of its employees was 1036 (6.3% rise). ArmSwissBank was the fifth - $1.102 thsd or 448 thsd AMD (0.4% decline versus Jan-Sept 2011), with the total number of its employees being 98 (11.4% rise). Converse Bank demonstrated the biggest growth in the average monthly salaries.

VTB Bank (Armenia) had the biggest personnel - 1,176 employees (12.9% more than in Jan-Sept 2011, with average monthly wage being $644 or 262,000 AMD - 2.3 higher than a year before), followed by Ardshininvestbank - 1,121 (-5.6%, $564 or 229,000, +12%), ACBA-Credit Argicole Bank - 1,036 (+6.3%. $1,118 or 454,000 AMD, +10.4%), Unibank - 888 (+24%, $616 or 250,000 AMD, -4.6%), Armeconombank - 877 (+14.9%, $516 or 210,000 AMD, -5.9%). Ameribank employed 105 people during the year but reduced its average monthly wage by 16.2%.

ACBA-Credit Agricole Bank, VTB Bank (Armenia) and Ardshininvestbank spent most of all on wages - 4.2bln AMD (+17%), 2.8bln AMD (+16.7%) and 2.3bln AMD (+4.5%), respectively, followed by HSBC Bank Armenia and Unibank - 2.2bln AMD (insignificant growth) and 2bln AMD (+17.7%), respectively.

HSBC Bank Armenia, ArmSwissbank, Mellat Bank, Ameriabank and Prometey Bank recorded the highest revenue per employee rates.
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