New York, NY -- (SBWIRE) -- 07/03/2020 -- Armenia banking market was valued at $519 million in 2018, and is expected to reach $996 million by 2026, registering a CAGR of 8.5% from 2019-2026. A bank is a financial institution licensed to accept deposits from the public and create credit in the market. The banking system operates into corporate banking, retail banking, investment banking, wholesale banking, and other such banking segments globally. It provides various products and services such as wealth management, credit and cash management, currency exchange, and other financial transactions and services in the industry. The banking system is highly regulated in most of the countries, responsible for ensuring financial stability and protecting depositors' funds, regulate exchange rates to control inflation, and other such allied activities in the banking sector.
Major Key Players of the Armenia Banking Market are:
Ameriabank CJSC, ARARATBANK OJSC, ArmSwissBank CJSC , Converse Bank CJSC , HSBC Armenia , ID Bank , ACBA-CREDIT AGRICOLE BANK CJSC , ArmBusinessBank CJSC, Ardshinbank CJSC, Inecobank CJSC, UniBank OJSC, VTB Bank Armenia CJSC , Artsakhbank CJSC, Evocabank CJSC, Mellat Bank CJSC
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In Armenia, Central Bank of Armenia (CBA) is a single regulator responsible for the protection of consumer rights and other activities in the financial system of the country. The banking system is the biggest part of the financial market and is highly dominated by banks that account for 88% of the total assets of the system. It has 17 commercial banks operating in the Republic of Armenia, and all commercial banks are currently participating in exchange trading of Armenia.
Rise in adoption and implementation of digital banking technologies in the international financial system boosts the growth of the Armenian banking sector in the market. Moreover, continuous growth of small- and medium-sized enterprises (SMEs) in Armenia leads to large-scale financing and lending to SMEs in comparison with other countries, which in turn fuels the growth of the banking sector in the country. However, the financial sector is characterized by high dollarization at around 60%, which is one of the highest in the region. This financial dollarization of banks' assets and liabilities leads to large scale foreign exchange and refinancing risks, which is expected to hamper the market growth. On the contrary, the country is set to introduce Basel III, providing an opportunity for banks to maintain capital buffers to cover bank losses during financial instability, and execute their existing offerings in the market. In addition, the liquidity rates of the banking system continue to stay high, providing an opportunity for banks to serve customers at the expense of liquidity means in the country.
Major Types of Armenia Banking Market covered are:
Closed Joint-Stock Company (CJSC)
Open Joint-Stock Company (OJSC)
Major Applications of Armenia Banking Market covered are:
– To study and analyze the global Armenia Banking consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Armenia Banking market by identifying its various sub-segments.
– Focuses on the key global Armenia Banking manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Armenia Banking with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Armenia Banking Market Size
2.2 Armenia Banking Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Armenia Banking Market Size by Manufacturers
3.2 Armenia Banking Key Players Head office and Area Served
3.3 Key Players Armenia Banking Product/Solution/Service
3.4 Date of Enter into Armenia Banking Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Armenia Banking Sales by Product
4.2 Global Armenia Banking Revenue by Product
4.3 Armenia Banking Price by Product
5 Breakdown Data by End User
5.2 Global Armenia Banking Breakdown Data by End User
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In the end, Armenia Banking industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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