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.

ArmInfo. We've had extensive conversations with all the countries in the region, from Turkiye, frankly, through to  Central Asia about the importance of building a strong transport corridor.  And I believe there's great willingness and interest in seeing movement in that direction.    US Assistant Secretary of the Bureau of European and Eurasian Affairs, Ambassador James O'Brien stated at a briefing at the Department of State.

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.

ArmInfo. By February 29, Armenia's public debt, against the backdrop of growing domestic debt, had grown  to another psychological threshold of $12 billion.

ArmInfo. The construction of an industrial-scale solar power plant, Mets Masrik, in Armenia is  nearing completion. This was stated on February 28 from the rostrum of parliament by Chairman of the Public Services Regulatory Commission, Garegin Baghramyan, whose candidacy was again nominated  by the RA government for the post of head of the PSRC.

ArmInfo.ADB has signed a sale and purchase agreement with the Bank of Georgia in respect of its shares in  Ameriabank. The Spokesman for the ADB Resident Mission in the Republic of Armenia told ArmInfo.

ArmInfo. The HSBC group has been moving its capital and focusing on its preferred markets, as has been the policy in recent years. Only since 2021, as noted by the Chairman of the Union of Banks of Armenia (UBA) Daniel Azatyan during a press conference, the Group has withdrawn from 7 countries, including retail lending in France, the USA, Greece, etc.

ArmInfo. The entry of a bank with an international brand into the financial market of Armenia is always desirable and important, Chairman of the Union of Banks of Armenia Daniel Azatyan stated during the final press conference on February 20, speaking about the deal to acquire Bank of Georgia Group PLC (BOGG) of one of the leading Armenian banks Ameriabank CJSC.

ArmInfo. Ameriabank (the Bank) has reached an agreement with the BOGG (the Group), a UK registered financial group, to join the latter as a standalone entity and the Group to become the main shareholder of the Bank, with the European Bank for Reconstruction and Development (“EBRD”) retaining their 10% shareholding in Ameriabank.

ArmInfo.  Bank of Georgia Group PLC ("BOGG" or the "Group") announces the proposed acquisition  of 100 per cent. of a leading bank in Armenia, Ameriabank CJSC ("Ameriabank"), for approximately $303.6 million. This acquisition will significantly enhance the Group's presence and growth opportunities within a fast-growing and attractive market, according to BOGG's official statement.

ArmInfo.Ameriabank maintains leadership in the banking system of Armenia in terms of the volume of  mortgage loans with a market share of 21.3% at the end of 2023. This is noted in the bank's message.

ArmInfo.Bank of Georgia Group PLC ( or ) clarifies recent media rumors regarding a potential transaction involving Ameriabank CJSC (), a leading bank in Armenia, and confirms that "it is in "advanced discussions" regarding its potential acquisition of Ameriabank CJSC."

ArmInfo. The likelihood of attracting a new international brand to the Armenian financial market  is quite low. Economist Haykaz Fanyan expressed a similar opinion on his Facebook page, commenting on the HSBC's withdrawal from Armenian market.

ArmInfo. On February 15, the Government of Armenia approved the proposal to sign Agreement No. 2  on amending the loan agreement Gyumri Urban Roads Project signed between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD) on May 11, 2016. 

ArmInfo.The impact of re-exports on GDP growth in 2022 was about 1%, and in 2023 - even  lower, which was associated with changes in the sanctions environment, a new reality replacing traditional directions, Deputy Minister of Economy Rafael Gevorgyan TOLD Armenia's Public TV. 

ArmInfo.The Eurasian Development Bank (EDB) forecasts 5.7% GDP growth in Armenia in 2024. 

ArmInfo. The second Amundi-Acba Economic Forum 2024 was held in Yerevan on January 24, which brought together thought leaders, industry experts, and innovators to explore and discuss critical topics shaping the economic landscape.  Jean Mazedjian, CEO of Amundi-Acba Asset Management, mentioned during his greeting that, taking into account the results of last year's forum, it was decided to make the event  traditional and hold it every year.

ArmInfo.The European Union intends to attract up to EUR10 billion in investments to establish a  transport corridor from Central Asia to Europe through the Transcaucasus and Turkey, bypassing Russia, but so far Brussels is ready to allocate only EURO 2.97 billion for these purposes in the form of two credit lines from the European Investment Bank (EIB ) and the European Bank for Reconstruction and Development (EBRD), informs  the statement of the European Commission, made within the framework of the Investors Forum for EU-Central Asia Transport Connectivity  that opened in the Belgian capital.

ArmInfo. In 2023, Armenia's public debt increased by 11.4% or 1 billion 207.6 million dollars to  11 billion 845.3 million dollars.

ArmInfo. The net profit of Armenian banks dropped by 9.2% in 2023 (after 3-fold increase  in 2022), amounting to 229.8 billion drams ($567.8 million) due to the deterioration of the y-o-y dynamics of non-interest income from a  4-fold increase to an almost 2-fold decline. Moreover, on a quarterly terms, profit began to decrease in Q3, then fell sharply down (-35%) in Q4, according to the data of the Express Ranking of Banks of Armenia as of December 31, 2023, prepared by ArmInfo IC.