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AMK Cambodia Sells 80 Percent of Shares to Chinese Commercial Bank
31/08/18 17:01
Phnom Penh (FN), August 31 – AMK, a microfinance institution based in Cambodia, announced in the press release that it has sold 80 percent of its shares to a Chinese bank called "The Shanghai Commercial & Savings Bank, Ltd. - SCSB".

AMK said their three existing shareholders will withdraw and that the mission and vision of SCSB and AMK are similar – to help poor people improve their living standards through sustainable and suitable microfinance services.

"We believe SCSB is a viable bank that can bring AMK forward,” said Kea Borann, CEO of AMK.

By May 2018, AMK employs over 2,600 staff, serving over 780,000 clients with loan portfolio of more than $230 million and $126 million deposit.
http://en.freshnewsasia.com/index.php/e ... 18-19.html

Nothing to see here, journos...

Wet season sales - microfinance companies on special offer right now.

Korean bank acquires local microfinance firm
August 29, 2018
NH Nonghyup, a South Korean bank, was granted permission from the Cambodian central bank and the Department of Commerce to take over SAMIC, a local microfinance company, and will begin full-scale operations next month.

The Korean bank said it was given the final approval notice on August 22 and has decided to change the local company’s name to Nonghyup Finance Cambodia. It will hold a launching ceremony on September 11, The Korea Times said in a report last week.

SAMIC, a small lender with total assets of $15.4 million and total capital of $5.3 million, is headquartered in Phnom Penh and has 18 networks centered on small and medium Cambodian cities.

“Nonghyup Finance Cambodia plans to expand its network based on three major cities: Phnom Penh, Sihanoukville, and Siem Reap,” The Korea Times said.

“It will actively expand loans for real estate mortgages and loans for SMEs, as well as providing financing for agricultural equipment,” it added.
https://www.khmertimeskh.com/50527681/k ... ance-firm/

“AMK Microfinance, the country’s fifth largest such institution by total assets last year, has sold 80 per cent of its stake to China’s Shanghai Commercial & Savings Bank (SCSB) for an undisclosed sum, an AMK executive confirmed on Thursday.

While the value of the deal was not publicised, AMK’s annual report last year revealed that its assets were worth $282.8 million.”

https://m.phnompenhpost.com/business/am ... k-shanghai

UPDATE on AMK
Friday, July 14, 2023
MICROCAPITAL BRIEF: BIO Loans $15m to AMK Microfinance of Cambodia

BIO, a government-owned institution also known as the Belgian Investment Company for Developing Countries, recently loaned USD 15 million to Cambodia’s Angkor Microheranhvatho Kampuchea (AMK). AMK provides individuals as well as micro-, small and medium-sized enterprises with savings, loans, leasing, microinsurance, money transfers, a mobile banking app and access to automated teller machines (ATMs).

Licensed by the National Bank of Cambodia since 2004, AMK’s mission is “to provide a range of responsible financial services to our clients from varying economic segments, particularly low-income households and women, to help them to achieve their financial and household aspirations.”

As of May 2023, the institution has 151 offices and 894,000 clients. As of December 2022, it reports total assets of KHR 2.9 billion (USD 708 million).

BIO was founded in 2001 and seeks “to support a strong private sector in developing and emerging countries, to enable them to gain access to growth and sustainable development” consistent with the UN’s Sustainable Development Goals (SDGs). Per its 2022 annual report, BIO has total assets of EUR 1.1 billion (USD 1.2 billion) and outstanding investments of EUR 508 million (USD 639 million).

By Elva Montelongo, Research Associate
https://www.microcapital.org/microcapit ... -cambodia/