An agreement has been reached for Ameriabank to join Bank of Georgia Group PLC (“BOGG” or the “Group”), with the latter conditionally purchasing 100% of shares of Ameriabank (the “Transaction”). Under the terms of the Transaction, 90% of the shares is being purchased immediately, with the European Bank for Reconstruction and Development (“EBRD”) retaining their 10% shareholding in Ameriabank.

BOGG, a London-based international financial group listed on the Premium Segment of the LSE Main Market and a constituent of the FTSE-250 index, is set to expand its geography and aims to enter the Armenian market through Ameriabank as a leading local bank. Following the closing of the transaction and with Ameriabank on board, BOGG will be rebranded to mark a new chapter in its development.

The Transaction is subject to approval by the shareholders, as well as regulatory bodies, including the Central Bank of Armenia. Should all the stages of the process complete successfully, following the Transaction, Ameriabank will operate as a stand-alone entity within the Group, maintaining its brand and corporate identity. 

About Bank of Georgia Group PLC

Bank of Georgia Group PLC (the “Group”) is a UK-based company, listed on the Premium Segment of the London Stock Exchange and a constituent of the FTSE-250 index, with global and diversified institutional investors. The Group provides innovative and digital banking and financial solutions to retail, SME, and corporate customers through its main operations in JSC Bank of Georgia – a leading universal bank in Georgia with best-in-class digital offerings. The Group has consistently delivered strong business growth and superior profitability, enabled by its technological and analytics capabilities, customer-centricity, empowered and engaged employees, and excellent brand recognition on the local market.

For more information, please visit https://bankofgeorgiagroup.com/