Leasing finance is globally recognized as a tool for stimulating investment activity, upgrading innovation drivers, and expanding access to finance for small and medium-sized enterprises (SMEs). In Armenia, despite a steady increase in leasing portfolio volumes in recent years (Central Bank of Armenia, 2023), the sector continues to face challenges related to management efficiency, risk governance, and an underdeveloped regulatory framework (Hakobyan, 2020). Low levels of digitalization and limited client-centered practices constrain the market's competitiveness and penetration. Hence, there is a growing need for a comprehensive evaluation to identify key obstacles and formulate sustainable development strategies. The objective of this article is to assess the current state of leasing operations management in Armenia, analyze the impact of key performance factors, and propose a localized management model that addresses efficiency gaps and promotes long-term sectoral growth
MKHITARYAN et al. (2025) studied this question.