The Bank of Georgia Group PLC (the Group) has announced a landmark acquisition, proposing to acquire 100% of Ameriabank CJSC, a leading bank in Armenia, for approximately USD 303.6 million. The acquisition is seen as a strategic opportunity for the Group to capitalise on the burgeoning Armenian market by integrating Ameriabank into its operations, leveraging its expertise and experience to drive growth.
The Group plans to retain 90% ownership of Ameriabank, with the European Bank for Reconstruction and Development (EBRD) holding the remaining 10% shareholding. Following the completion of the acquisition, Ameriabank will continue to operate as a standalone entity within the Group, retaining its brand name and existing leadership. The bank is committed to upholding its strategic goals, values, and mission while contributing to Armenia’s sustainable development.
Ameriabank stands out with its sustainability strategy, which underscores its commitment to responsible business practices and advancing Armenia’s transition to a sustainable future. The bank actively integrates environmental, social, and governance (ESG) considerations into its corporate governance and operations.
Notably, Ameriabank has financed over USD 200 million in renewable energy and energy efficiency projects since 2009, partnering with international financial institutions and impact investors, including the EBRD’s GEFF in Armenia. The bank’s Green Bonds, aligned with UN Sustainable Development Goals, aim to foster sustainable solutions in areas such as clean energy, infrastructure, and climate action. The bank remains committed to transparency and impact reporting, ensuring accountability and demonstrating its contribution to sustainable development.
Ameriabank’s sustainable finance initiatives have been supported by GEFF in Armenia. As one of the initial partner financial institutions, Ameriabank has benefitted from GEFF’s support in promoting sustainable finance and environmental stewardship.
In conclusion, the Bank of Georgia’s acquisition of Ameriabank represents not only a strategic business move but also a commitment to sustainable growth and responsible banking practices. By integrating Ameriabank into its operations, the Group aims to leverage synergies, drive innovation, and contribute to the long-term prosperity of both Armenia and the wider region.