ABA Bank of Cambodia - CNB acquires controlling interest.

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
CEOCambodiaNews
Expatriate
Posts: 62322
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 4033
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

ABA Bank of Cambodia - CNB acquires controlling interest.

Post by CEOCambodiaNews »

This is not breaking news, but for those who didn't know, Canada National Bank is now the major investor in ABA Bank Cambodia with 90% interest:

National Bank Takes Controlling Interest in ABA Bank of Cambodia
Montreal, 9 May 2016 -

With more than US $925 million in assets, some 1,300 employees and 35 branches, ABA Bank will immediately be accretive to National Bank earnings

National Bank announces an additional investment of US $103 million to acquire controlling interest in Advanced Bank of Asia Limited (ABA Bank of Cambodia). National Bank initially purchased a 10% interest in ABA Bank in 2014, and made subsequent investments that brought its stake to 42% in 2015. National Bank now holds a 90 % interest in ABA Bank. To date, National Bank has invested a total of US $148 million in ABA Bank as part of its international growth strategy aimed at building a presence in high growth emerging markets.

Founded in 1996, ABA Bank is one of Cambodia's major financial institutions. With more than US $925 million in assets, some 1,300 employees and 35 branches, ABA Bank offers financial products and services to individual and business clients.

“National Bank is proud to become the majority shareholder of ABA Bank, a well established financial institution,” said Louis Vachon, President and CEO of National Bank of Canada...https://www.nbc.ca/en/about-us/news/new ... bodia.html
Join the Cambodia Expats Online Telegram Channel: https://t.me/CambodiaExpatsOnline

Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Instagram
StungTrengBooBarang
Expatriate
Posts: 42
Joined: Tue Jul 12, 2016 11:48 pm
Reputation: 0

Re: ABA Bank of Cambodia - CNB acquires controlling interest.

Post by StungTrengBooBarang »

Is the same guy with an eastern european sounding name dmitri? in it the ceo/director/president / big boss position? I think he helped create the bank.
User avatar
bolueeleh
Expatriate
Posts: 4448
Joined: Fri Jan 29, 2016 12:39 am
Reputation: 842
Location: anywhere with cheap bonks

Re: ABA Bank of Cambodia - CNB acquires controlling interest.

Post by bolueeleh »

i hoped they checked the books of ABA thoroughly before taking the plunge :D
Money is not the problem, the problem is no money
Anchor Moy
Expatriate
Posts: 13458
Joined: Wed May 28, 2014 11:37 pm
Reputation: 3974
Tokelau

Re: ABA Bank of Cambodia - CNB acquires controlling interest.

Post by Anchor Moy »

StungTrengBooBarang wrote:Is the same guy with an eastern european sounding name dmitri? in it the ceo/director/president / big boss position? I think he helped create the bank.
Could be Kazakh ?
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 95 guests