ADB signed sale and purchase agreement with Bank of Georgia in  respect of its shares in Ameriabank

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.

Spokesman noted that, "the sale is subject to approval by the Bank of  Georgia and the respective regulatory authorities".

On February 19, Bank of Georgia Group PLC announced that it had  reached a preliminary agreement to acquire the leading bank of  Armenia, Ameriabank CJSC for approximately $303.6 million.

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 a Outlook .