On Friday, September 20, Armenian Prime Minister Nikol Pashinyan held a meeting with the Chairman of the Board of the Bank of Georgia, Mel Karvel. The main topic of discussion was the Georgian bank's entry into the Armenian financial market.
Pashinyan warmly welcomed the Bank of Georgia's decision to begin investment activities in Armenia. The Prime Minister expressed hope that the arrival of the Georgian bank would bring a new culture to the country's financial sector and contribute to its development.
For his part, Mel Karvel shared an optimistic view of the prospects for the Armenian financial market and the economy as a whole. He particularly highlighted the balance of Armenia’s monetary policy, which, in his opinion, creates favorable conditions for the implementation of investment projects.
During the meeting, the Chairman of the Board of the Bank of Georgia also outlined the bank's plans for expanding its operations in Armenia.
Both parties emphasized the importance of continuing the fight against corruption and the government’s reforms to further improve the investment climate in the country.
This visit and the Bank of Georgia’s entry into the Armenian market are seen by economists as a significant step in strengthening financial ties between Armenia and Georgia, as well as an indication of Armenia’s growing attractiveness to foreign investors.
Previously, BMG reported that the Bank of Georgia Group had acquired one of Armenia’s leading banks, "Ameriabank," for $303.6 million.
"Ameriabank," with assets exceeding 1 trillion AMD (over $2.5 billion), will continue to operate with its existing management while retaining its own brand and corporate identity.
According to the Bank of Georgia Group, this deal provides BOGG PLC with an opportunity to expand its scale and geographical reach by entering a neighboring, rapidly growing economy.
