Portfolio Valuation and Ameriabank Acquisition Update
PROPOSED ACQUISITION OF AMERIABANK CJSC
BY BANK OF GEORGIA GROUP PLC
KEY TERMS
TRANSACTION PRICE
303.6
VALUATION HIGHLIGHTS
NET ASSET VALUE
0.65x
GEORGIA
CAPITAL
P/E
2.6x
US$ MILLION
AS AT 31 OCTOBER 2023
AS AT 2023
ma 3860m
ON 19-FEB-24, BANK OF GEORGIA GROUP PLC (THE "BANK")
ANNOUNCED THAT IT HAS REACHED AN AGREEMENT FOR THE
PROPOSED ACQUISITION OF 100% OF AMERIABANK CJSC A LEADING
UNIVERSAL BANK IN ARMENIA
AMERIABANK AT A GLANCE
20%, #1
LOANS MARKET SHARE,
DEC-23
309
GEL MILLION
NET INCOME, FY23
24.9%
ROAE, FY23
The transaction is subject to shareholder and regulatory approvals and is
expected to close in 1Q24.
The transaction price will be fully financed by the Bank's surplus capital
with no dilution for the Bank's shareholders.
The acquisition is expected to be EPS and ROAE accretive and represents
a significant catalyst for the Bank and its shareholders.
The Bank intends to keep the targeted pay-out ratio unchanged in the
range of 30-50% of annual profits, potentially enabling increased capital
distributions for its shareholders.
Following the transaction, the Bank will continue to maintain capital
ratios comfortably above the minimum requirements.
Further information about the Transaction can be found on the Bank's website.
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