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Settore_Bancario

 

Settore_Bancario

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After the last years’ crisis, the banking sector has been showing some signs of change. Generally speaking, banks operating in Armenia are well capitalized, and, as far as crediting is concerned, there is a relatively wide variety of options. However, interest rates are still rather high, particularly with regards to mortgages, which can be round 29% (as a matter of fact, for funding  of entrepreneurial activities  interest rates may be even lower than 10%). Moreover, it has to be outlined that if compared to other transitional economies, particularly in Eastern Europe, financial intermediation is not well developed in Armenia. Also due to its narrow size, Armenian banking sector seems to be little affected by the world financial crisis of late 2008. The Central Bank, in charge of the supervision of the whole system, is interested in attracting to Armenia other international banks competing with British HSBC and German ProCreditBannk.


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