UDC 334.7 UDC 336.22

STRUCTURAL AND PROFITABILITY SHIFTS IN ARMENIA’S BANKING SECTOR Structural and profitability shifts in Armenia’s banking sector

Published in JOURNAL OF MONETARY ECONOMICS AND MANAGEMENT · Issue 9, 2026 · Pages 432–438 · Rubric: SCIENTIFIC ARTICLES
DOI: https://doi.org/10.26118/2782-4586-2026-432-438
Received: 28.09.2026 Accepted: 14.10.2026 Published: 14.10.2026
This paper examines structural transformations and profitability in Armenia’s banking sector from 2014 to 2024. The objective is to analyze the evolution of the financial model within the framework of an emerging economy. The study identifies a pivotal transition from credit-driven growth to a more sustainable, savings-supported paradigm. Key findings reveal a 31-fold increase in banking profitability and sustained macroeconomic resilience despite external geopolitical shocks. The research demonstrates that Armenia’s banking sector, characterized by high competition (HHI 876–1125), maintains stability through diversified asset allocation and internal savings, offering a robust model for understanding the development of emerging financial systems.
emerging markets, banking sector, financial stability, profitability trends, market concentration
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