List Of Commercial Banks In Armenia

The commercial banks of Armenia have a significant role in the financial system of Armenia offering a variety of services for both people and companies. The banking industry has gone through substantial reforms over the past few yearswith the intention to create a more secure and competitive environment. In Armenia, the Central Bank of Armenia regulates and oversees the banking sector comprising 17 commercial banks that include foreign-owned and domestically owned institutions. Although the sector has experienced an increase in growth, it’s extremely concentrated, with only some large banks ruling the market. However it is important to note that the Central Bank has implemented measures to increase the durability and stability, and ensures that it is able to continue supporting economic development and growth in Armenia.

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