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ARMENIAN BANKS' REPRESENTATION, ADVERTISING EXPENSES 377.3MLN IN 1ST QUARTER 2008
ARKA
May 21, 2008
YEREVAN, May 21. /ARKA/. The Armenian banking system's representation
and advertising expenses totaled 377.3mln AMD in the 1st quarter of
2008 - a 14.64% decrease as compared with the corresponding period
last year.
An analysis made by the ARKA News Agency on the basis of the banks'
financial reports showed that one bank's representation and advertising
expenses averaged 17.2mln AMD in January-March 2008 against 21mln
AMD in the corresponding period last year. Thus, one bank's monthly
advertising and representation expenses averaged 5.7mln AMD.
The ACBA Credit Agricole Bank recorded the largest representation and
advertising expenses - 57.2mln AMD or 15.15% of the banking system's
total advertising and representation expenses. On the other hand,
the bank's representation and advertising expenses proved to be 46.76%
less in January-March 2008 as compared with the corresponding period
last year.
The Unibank recorded the second largest representation and
advertising expenses - 52.5mln AMD (13.91% of the banking system's
total advertising and representation expenses). The bank increased
its advertising and representation expenses by 4.825 as compared with
January-March 2007.
The Anelik Bank recorded the third largest representation and
advertising expenses - 40mln AMD (a 46.56% decrease as compared with
January-March 2007). The Areximbank and Armeconombank rank 4th and 5th
- 37.6mln AMD and 30.23mln AMD respectively. The first leading banks'
advertising and representation expenses constituted 57.67% of the total
advertising and representation expenses of Armenia's banking system.
The BTA Investbank recorded the largest share of advertising expenses
in other operating expenses. It is followed by Areximbank (41.72%)
and Unibank (36.1%).
Despite a general decrease in advertising and representation expenses
recorded in Armenia's banking system, many banks considerably increased
their expenses. Specifically, Armimpexbank increased its advertising
and representation expenses 5.29 times up to 2.5mln AMD, Inecobank
2.64 times up to 16.4mln AMD, BTA Investbank 2.52 times up to 16.9mln
AMD, Armeconombank 2.12 times up to 30.3mln AMD. In absolute terms,
Armeconombank recorded the largest increase in its advertising and
representation expenses - 16mln AMD, followed by Inecobank (a 10.2mln
AMD increase) and BTA Investbank (a 10.2mln AMD increase).
Eleven banks recorded decrease in their advertising and representation
expenses.
The advertising and representation expenses of the Byblos Bank
Armenia totaled 4.7mln AMD in January-March 2008 - 32.63% of the
amount recorded in the corresponding period last year.
Ardshininvestbank's advertising and representation expenses totaled
9.5mln AMD (33.91%).
ARKA
May 21, 2008
YEREVAN, May 21. /ARKA/. The Armenian banking system's representation
and advertising expenses totaled 377.3mln AMD in the 1st quarter of
2008 - a 14.64% decrease as compared with the corresponding period
last year.
An analysis made by the ARKA News Agency on the basis of the banks'
financial reports showed that one bank's representation and advertising
expenses averaged 17.2mln AMD in January-March 2008 against 21mln
AMD in the corresponding period last year. Thus, one bank's monthly
advertising and representation expenses averaged 5.7mln AMD.
The ACBA Credit Agricole Bank recorded the largest representation and
advertising expenses - 57.2mln AMD or 15.15% of the banking system's
total advertising and representation expenses. On the other hand,
the bank's representation and advertising expenses proved to be 46.76%
less in January-March 2008 as compared with the corresponding period
last year.
The Unibank recorded the second largest representation and
advertising expenses - 52.5mln AMD (13.91% of the banking system's
total advertising and representation expenses). The bank increased
its advertising and representation expenses by 4.825 as compared with
January-March 2007.
The Anelik Bank recorded the third largest representation and
advertising expenses - 40mln AMD (a 46.56% decrease as compared with
January-March 2007). The Areximbank and Armeconombank rank 4th and 5th
- 37.6mln AMD and 30.23mln AMD respectively. The first leading banks'
advertising and representation expenses constituted 57.67% of the total
advertising and representation expenses of Armenia's banking system.
The BTA Investbank recorded the largest share of advertising expenses
in other operating expenses. It is followed by Areximbank (41.72%)
and Unibank (36.1%).
Despite a general decrease in advertising and representation expenses
recorded in Armenia's banking system, many banks considerably increased
their expenses. Specifically, Armimpexbank increased its advertising
and representation expenses 5.29 times up to 2.5mln AMD, Inecobank
2.64 times up to 16.4mln AMD, BTA Investbank 2.52 times up to 16.9mln
AMD, Armeconombank 2.12 times up to 30.3mln AMD. In absolute terms,
Armeconombank recorded the largest increase in its advertising and
representation expenses - 16mln AMD, followed by Inecobank (a 10.2mln
AMD increase) and BTA Investbank (a 10.2mln AMD increase).
Eleven banks recorded decrease in their advertising and representation
expenses.
The advertising and representation expenses of the Byblos Bank
Armenia totaled 4.7mln AMD in January-March 2008 - 32.63% of the
amount recorded in the corresponding period last year.
Ardshininvestbank's advertising and representation expenses totaled
9.5mln AMD (33.91%).