The 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.

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.

The Armenia banking market is segmented on the basis of sector and type. On the basis of sector, it is segmented into retail banking, corporate banking, and investment banking. By type, it is bifurcated into closed joint-stock company (CJSC) and open joint-stock company (OJSC).

KEY BENEFITS FOR STAKEHOLDERS

? The study provides an in-depth analysis of the Armenia banking market share with the current trends and future estimations of the market.
? A comprehensive analysis of the factors that drive and restrict the market size is provided.
? A comprehensive quantitative analysis is provided from 2019 to 2026 to assist market stakeholders to capitalize on the prevailing market opportunities.
? An extensive analysis of the key segments of the industry helps understand the market trends.
? The key players and their strategies are provided to understand the competitive outlook of the market forecast.
KEY MARKET SEGMENTS
- By Sector
o Retail Banking
o Corporate Banking
o Investment Banking
- By Type
o Closed Joint-Stock Company (CJSC)
o Open Joint-Stock Company (OJSC)
KEY PLAYERS PROFILED
- Ameriabank CJSC
- ARARATBANK OJSC
- ArmSwissBank CJSC
- Converse Bank CJSC
- HSBC Armenia
- ID Bank
- ACBA-CREDIT AGRICOLE BANK CJSC
- ArmBusinessBank CJSC
- Ardshinbank CJSC
- Inecobank CJSC
The other players in the market include (profiles not included in the report) the following:

- UniBank OJSC
- VTB Bank Armenia CJSC
- Artsakhbank CJSC
- Evocabank CJSC
- Mellat Bank CJSC