Global Armenia Banking Market Statistics, Development and Growth 2019-2041
Summary - A new market study, titled “Armenia Banking Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2041” has been featured on WiseGuyReports.
Armenia Banking Market by Sector (Retail Banking, Corporate Banking, and Investment Banking); By Type (Closed Joint-Stock Company [CJSC] and Open Joint-Stock Company [OJSC]) and Region – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030
Product Overview
Banking is an agent and financial entity that is allowed to accept deposits and to offer loans on the market. In particular, cash, credit, wealth management, foreign exchange, safe deposit boxes are handled. Deposits are accepted, and other financial transactions and facilities are given. The financial system is tightly regulated and operated in the country by central bank of the country.
Market highlights
Armenia Banking Market was estimated to be of USD 519 million at Armenia in 2018 and it is projected to hit USD 1.7 billion by 2030 with a CAGR of 12% in the forecast period of 2019-2030. The banking sector in Armenia is the country's main financial industry. Banks that contribute for 90% of the system's total resources are heavily regulated by the Central Bank.
Armenia Banking Market: Segments
The market is classified into retail banking, corporate banking and investment banking by sector. In 2018, the category of corporate banking reported the highest revenues. Banks' funding and lending to small and medium-sized enterprises in Armenia are fairly strong. It is anticipated to be the main growth driver in the country's banking sector.
While the economic repercussions spread of COVID 19, retail banks now face several big goals, which require different repositioning steps, and also re calibration for the future. Amid social guidance, supervisory and enforcement roles never intended for remote work, they are working to keep their delivery lines open. Given close to zero interest rates and rising market pressure, they are trying to balance income and customer expectations. And they have to track strategies and brand problems that determine their future, as market forces and consumer behavior can shift as a result of the crisis.
Armenia Banking Market: Market Dynamics
Drivers
Large Scale Financing for SMEs
In Armenia, the rapid growth of SMEs leads to huge-scale finance and borrowing for SMEs, which stimulates development in the country's banking sector. In addition, growing the acceptance and application, through the international financial network, of digital banking innovations would fuel the business growth of the Armenian banking sector. The advanced digital technologies are bringing a new era of market development not only in Armenia but all over the world.
Restraint
High costs
Despite several years of good economic success, Armenia was negatively and severely impacted by the global economic and financial crisis. The monetary sector of Armenia is underdeveloped and there is minimal interaction with foreign financial markets. The financial sector is described by about 62% of high dollarization, which is one of the region’s largest. This financial polarization, which is anticipated to impede business growth, contributes to large-scale global exchange and remortgaging threats.
Armenia Banking Market: Key Players
• Inecobank CJSC
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Ameriabank CJSC
• ARARATBANK OJSC
• ArmSwissBank CJSC
• Converse Bank CJSC
• HSBC Armenia
• ID Bank
• ACBA-CREDIT AGRICOLE BANK CJSC
• ArmBusinessBank CJSC
• Ardshinbank CJSC
• Other Prominent Players
The Armenia Banking Market report also contains analysis on:
• Armenia Banking Market Segments:
• By Sector
Retail Banking
Corporate Banking
Investment Banking
• By Type
Closed Joint-Stock Company (CJSC)
Open Joint-Stock Company (OJSC)
• Armenia Banking Market Dynamics
• Armenia Banking Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5823596-armenia-banking-market-outlook-2030-industry-insights-opportunity
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