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The "Bank of Georgia" group announced the purchase of 100% of the shares of "Ameriabank", the leading universal bank of Armenia. The transaction was valued at 303.6 million US dollars.

According to the information provided, regulatory procedures must be completed before the agreement is finalized. "Ameriabank" will continue to operate under its existing management as an independent subsidiary of the group, maintaining its own brand and corporate identity.

The transaction will give the Bank of Georgia group the opportunity to increase its scale and geographic reach by entering a neighboring, fast-growing economy. On the other hand, the financial and operational expertise of the "Bank of Georgia" group will assist "Ameriabank's" management in further developing the bank.

"Ameriabank" offers various banking products and services to individuals and legal entities through various channels and digital platforms. It is the largest financial institution and the number one bank in terms of trust and recognition among customers in Armenia. "Ameriabank" has a high potential for even faster development and growth, especially in the direction of retail, small and medium businesses.