Bank of Georgia to Acquire Ameriabank

The owner of the Bank of Georgia Group PLC has announced the purchase of 100% of the shares of one of Armenia's largest banks, Ameriabank. This was reported by the press service of the Bank of Georgia.

The Georgian side will pay $303.6 million for the acquisition. After the transaction is finalized, Ameriabank will continue to operate under the existing management while maintaining its own brand, the statement noted.

Currently, the shareholders of Ameriabank include the Imast Group (formerly Ameria Group, with 48.82% of shares founded by Ruben Vardanyan), the European Bank for Reconstruction and Development (17.71%), the Asian Development Bank (13.91%), as well as ESPS Group, which includes several managers from Ameria Group (12.05%). As of the end of 2023, the assets of Ameriabank amounted to 1 trillion 410 billion drams. For years, the bank was a leader in the volume of assets in Armenia but has recently lost its leading position to Ardshinbank.

As for the Bank of Georgia, its largest shareholder is Georgia Capital, but its shares are owned by investment organizations such as JP Morgan, BlackRock, Vanguard, and others.