ArmInfo.The Board of the Central Bank of Armenia has given preliminary consent to the acquisition of a significant participation in the authorized capital of Ameriabank CJSC by Bank of Georgia Group PLC (BOGG) and Bank of Georgia JSC.
As noted in the message of the Central Bank of the Republic of Armenia, the decision was made on March 29 at a meeting of the Board of the Central Bank. Earlier, in February of this year, Bank of Georgia Group PLC ("BOGG" or the "Group") announced the proposed acquisition of 100 percent of a leading bank in Armenia, Ameriabank CJSC ("Ameriabank"), for approximately $303.6 million. A little later, as the ADB representative office in Armenia told ArmInfo, the Asian Development Bank (ADB) has signed a sale and purchase agreement with the Bank of Georgia in respect of its shares in Ameriabank.
According to the official statement of BOGG, the Georgian bank will become the owner of 90% of the shares of Ameriabank, while the European Bank for Reconstruction and Development (EBRD) will retain 10%. The Asian Development Bank (ADB) owned a 13.92% stake in Ameriabank. Other shareholders of the bank as of January 1, 2024 were Imast Group (S-Wye) Limited (previous name - Ameria Group (S-Wye) Limited) with a share in the capital of 48.82%, EBRD - 17.71%, ESPS Holding Limited - 12.05%, Afeyan Foundation for Armenia Inc. - 7.5%. The Bank's assets as of this date amount to $3.5 billion, loan portfolio - $2.4 billion, investments in securities - $380 million, total capital - $483.7 million, total liabilities - $3 billion, of which $2.2 billion are liabilities to customers. Ameriabank completed 2023 with a net profit of $113.8 million. Ameriabank, while maintaining its leadership in total capital, is among the top three in other main balance sheet indicators. S&P Global Ratings has assigned the bank a long-term issuer credit rating of "BB-" with an Outlook.
Bank of Georgia Group PLC is the first Georgian bank to be listed and successfully quoted on the London Stock Exchange (LSE) ( - LSE: BGEO LN). The bank is included in the FTSE-250 index. Its main division is JSC (, ), the leader in digital banking in Georgia, which provides a range of banking and financial services to retail customers and businesses. As noted in the message, relying on its competitive advantages, the Group strives to ensure sustainable high profitability and maximize shareholder value. is the country's leading bank with a market share of 35.1% (by total assets), 33.8% (by total loans) and 34.6% (by customer deposits). The bank offers a wide range of services in retail banking, corporate banking and investment management. Bank of Georgia serves over 2.5 million customer accounts, has 271 branches, the country's largest ATM network (886), many express payment terminals (self-service), as well as a fully functional remote banking platform and a modern call center. The bank has credit ratings from world rating agencies: Moody's: (in foreign and national currency), Fitch Ratings: (long-term and short-term issuer default ratings); Outlook .
