ABA Bank of Cambodia - CNB acquires controlling interest.
Posted: Wed Jul 20, 2016 6:00 pm
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
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
