Acquisition of Ameriabank by BOGG PLC int`l financial group completed

ArmInfo. The transaction to acquire 90% of the shares of Ameriabank by the BOGG PLC international financial group, the main asset of which was Bank of Georgia, was completed last Friday.  Now a second major asset in the form of Ameriabank has joined the Group. As previously reported, the total transaction amount was $303.6 million.

The transaction is structured as follows: BOGG PLC directly acquired  60% of the shares of Ameriabank, Bank of Georgia -30% of the shares  and to the European Bank for Reconstruction and Development (EBRD)  10% of the shares, which previously owned 17.71% of the shares. The  Asian Development Bank (ADB), which previously owned 13.92% of the  shares, completely stopped its participation.

BOGG PLC is an international financial group registered in the United  Kingdom. The group's shares are listed on the premium segment of the  main market of the London Stock Exchange and are included in the  FTSE-250 index. The Group's shareholders include the world's largest  financial institutions, including JP Morgan, BlackRock (USA),  Vanguard Group (USA), Schroders (UK), Norges Bank Investment  Management (Norway), etc.

The Bank's assets as of January 1,  amounted 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 assigned  the bank a long-term issuer credit rating of "BB-" with a "Stable"  outlook, and Moody's confirmed the bank's rating at Ba3 with a  "Stable" outlook.

According to a competent source, Ameriabank will not change its name  or rebrand. The BOGG group itself intends to undergo a rebranding  procedure in connection with the acquisition of a large foreign  asset.