Business
Change of name to Lion Finance Group PLC
Change of name to Lion Finance Group PLC.
About this update from Lion Finance Group Plc
[{"type":"text","content":"\n\n\n \nLondon, 6 February 2025\n \nChange of name to Lion Finance Group PLC\n \nBank of Georgia Group PLC announces that it has changed its name to Lion Finance Group PLC (the \"Company\" or the \"Group\"). In February 2024, when announcing the acquisition of Ameriabank, the largest bank in the high-growth Armenian market, we also noted our intention to change the name of the holding company, to reflect our focus on multiple geographies. Our lion logo, inspired by an ancient Georgian artefact, has symbolised strength and heritage since the Group's inception. The new name upholds this continuity, while marking new beginnings.\nLion Finance Group PLC is a FTSE 250 holding company whose core subsidiaries are JSC Bank of Georgia in Georgia and Ameriabank CJSC in Armenia - leading universal banks and top-of-mind banking brands in their respective geographies. Both Bank of Georgia and Ameriabank will continue to operate as separate banks, maintaining their local identities and brands and catering to the needs of local communities.\nMel Carvill, Lion Finance Group PLC's Chairman of the Board, commented: \"The change of name reflects a new chapter in the Group's development, as the acquisition of Ameriabank last year enabled us to enter the dynamic, growing, and prudently managed Armenian economy. Ameriabank has enhanced the earnings of the Group as it has continued to deliver strong performance, with a robust, c.30% year-on-year loan growth, and many growth opportunities ahead. We remain focused on creating value for our stakeholders across our core markets.\"\nArchil Gachechiladze, Lion Finance Group PLC's CEO, commented: \"Our journey began in Georgia and the remarkable success we have achieved at Bank of Georgia has enabled us to embrace new growth opportunities. The expansion into Armenia last year was a historic milestone for the Group as we diversified our business and executed a highly earnings-enhancing transaction with significant upside potential. The change in our holding company name reflects our broader presence. However, Bank of Georgia and Ameriabank remain as they are, with their unique names and identities unchanged, empowering customers and driving positive impact in their communities.\"\nShareholders should note that their shareholdings will be unaffected by the change of name. Existing share certifi...