Bank of Georgia

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Armenia

Bank of Georgia to acquire Armenia’s Ameriabank for $304 million

by Arshaluys Barseghyan

•2 min read

Bank of Georgia has reached an agreement to acquire Ameriabank, one of the largest banks in Armenia, for $303.6 million. Bank of Georgia Group, which is listed on the London Stock Exchange, announced its proposed acquisition of 90% of the Armenian bank on Monday. The agreement would allow the European Bank for Reconstruction and Development (EBRD) to retain its 10% share in the bank. The acquisition still requires approval by regulators, including the Central Bank of Armenia. Founded in 1

Demonstrators gathered outside the Khatiashvili family’s home to protest their eviction. Shota Kincha/OC Media.

Bank of Georgia

Police clash with protesters attempting to block Tbilisi eviction

by Tata Shoshiashvili

•3 min read

Georgian police have arrested 20 people while evicting a family from their home in Tbilisi. On Tuesday, hundreds demonstrated outside the Khatiashvili family’s home in Tbilisi, as the National Bureau of Enforcement evicted the family for failing to pay their mortgage. The protesters had attempted to prevent the police from entering the Khatiashvili family’s flat. Several activists were also inside the apartment with the family. The Ministry of Internal Affairs accused the protesters o

Bank of Georgia

Video | Chiatura: the town of miners

by Dato Parulava

•0 min read

Around 3,000 mine workers went on strike in the industrial City of Chiatura, in western Georgia, earlier in May. They worked for Georgian Manganese LLC, the largest employer in the ore-rich but otherwise poor dust-covered city, a city where the river has turned black due to manganese contamination.

Bank of Georgia

Opinion | Georgia’s economy has failed; now it’s time to build factories

by Tato Khundadze

•7 min read

Despite the many international economic indices suggesting Georgia is a great success story, most Georgians live in poverty. In a country where emigration is rampant and half the population ekes out a living in agriculture, the government needs to create new strategies to form a strong, industrial economy. Though hard to determine whether it happened naturally or was politically imposed, it is clear the Georgian people have experienced massive socio-economic change since gaining independ

Bank of Georgia

Ivanishvili: two banks have ‘eaten up’ Georgia

by OC Media

•6 min read

Two of Georgia’s banks, Bank of Georgia and TBC, have ‘eaten up the whole country’, according to the Chair of the ruling Georgian Dream Party, Bidzina Ivanishvili. In an interview Tuesday with the Georgian Public Broadcaster, Ivanishvili discussed his discord with former Prime Minister Giorgi Kvirikashvili, poverty in Georgia, the Khorava Street murder investigation, and the next president. He said that Kvirikashvili disrupted the balance between state and business interests, using his tax