Lion Finance Group (BGEO) is a banking and financial services company which operates, through its subsidiaries, in Georgia and Armenia. It provides commercial banking, as well as investment and corporate banking, in addition to asset management services.

Formerly known as Bank of Georgia, Lion Finance Group has recently expanded through its acquisition of Ameriabank, the largest universal bank in Armenia. With its robust balance sheet and strong local market presence, it has been well-poised to take advantage of Georgia’s recent economic growth, especially in the wake of the war in Ukraine. Both Georgia and Armenia continue to see high growth with relatively low inflation, thanks to a boom in human capital and financing which Lion Finance Group has been able to integrate itself well with, especially within the commercial sphere.

As such, we believe BGEO has more room to grow. Its listing on the LSE allows for diversified financing, and the security position of both Georgia and Armenia has seen tentative improvement, including a reduced presence of Russian troop in the occupied territory of Abkhazia.