Bank of Georgia plans acquisition of leading Armenian bank

Bank of Georgia confirmed it is in advanced talks with Ameriabank about a potential acquisition of the Armenian bank.

According to the bank, the potential transaction would be financed with surplus capital, without changing the company's dividend and capital distribution policy.

"The company will update shareholders as to progress made in relation to the acquisition as and when appropriate. There can be no certainty that a transaction will be signed nor, if signed, concluded," the statement reads.

Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy.