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financial sector : banking sector : non-bank financial institutions : multilateral sources of funding : ebrd activities in armenia
FINANCIAL SECTOR
Armenia's
financial sector has made rapid progress in the past few years. Although
small, the banking sector is relatively efficient. However, in terms of
lending capacity it is held back by a low level of capital and the need
for stronger management know how. Reportedly, only 15 per cent of economic
activity is serviced through the banking system.