ArmInfo. Ardshinbank, one of Armenia's largest banks, is interested in acquiring Georgia's TeraBank. This was reported by bm.ge, citing a statement from the National Bank of Georgia.
TV Pirveli reported that Armenian businessman Karen Safaryan's business group, Arins Group, plans to acquire TeraBank in Georgia, as well as the Biltmore Hotel on Rustaveli Avenue. These assets are currently owned by Sheikh Nahyan Mubarak Al Nahyan, a member of the royal family of the United Arab Emirates. BMG contacted the National Bank of Georgia with questions regarding this matter. The regulator stated that they are aware of Ardshinbank's interest in TeraBank, but the bank has not formally approached the regulator at this stage. "The National Bank of Georgia is aware of the interest of Ardshinbank, one of Armenia's largest banks, in TeraBank JSC; however, the company has not formally approached the regulator at this stage. We remind you that, in accordance with the Law on Commercial Banks, the consent of the NBG is required for the alienation of a significant stake in the bank. Accordingly, the National Bank, within its mandate, will study the matter and make a decision in accordance with current legislation," the NBG press service reported. For reference, Ardshinbank is the largest and systemically important universal bank in Armenia. As of 2025, the bank held 20.6% of the market.
Ardshinbank ranks first in Armenia in terms of assets, deposits, capital, retail deposits, net profit, and branch network. The bank's controlling shareholder is Arins Group LLC, which owns 98.918067% of Ardshinbank's shares. The bank's beneficial owner is Karen Safaryan, the sole shareholder of Arins Group LLC, the National Bank of Georgia's press service told BMG. TeraBank is the sixth-largest bank in Georgia by assets. As of July 2026, its total assets amounted to 2.27 billion lari, and its loan portfolio amounted to 1.72 billion lari.
In the first seven months of 2026, TeraBank earned 18 million lari in profit.
