TeraBank is awaiting a change in ownership, but no official application regarding the sale of its shares has yet been submitted to the National Bank of Georgia (NBG). An agreement between TeraBank’s shareholder and Luxembourg-based AGE to acquire the bank’s shares was announced on August 25.
The buyer is Armenia’s Ardshinbank, one of the country’s largest banks and part of businessman Karen Safaryan’s business group. Arins Group is one of Armenia’s major financial groups, bringing together banking, insurance and other financial services. Ardshinbank accounts for around 21% of the total assets of Armenia’s banking system. The group has also announced the acquisition of Tbilisi’s Biltmore Hotel.
BMG contacted the NBG to ask whether an application for the share transfer had been filed. The regulator said consultations involving the parties concerned had already taken place and that it is now awaiting the official application. NBG approval is mandatory for the transaction to be completed.
TeraBank is currently Georgia’s sixth-largest bank by assets. As of July 2026, its total assets stood at GEL 2.27 billion, while its loan portfolio amounted to GEL 1.72 billion. The bank reported GEL 18 million in profit in the first seven months of 2026. Until the transaction is completed, 87% of TeraBank is owned by UAE royal family member Sheikh Nahayan Mabarak Al Nahyan, 8% by Sheikh Mohammed Butti Al Hamed, and 5% by Investment Trading Group.
