KB Kookmin Bank said in a recent board of directors’ meeting that it has decided to acquire a 70 percent stake in Prasac Microfinance Institution Ltd., the largest deposit-taking micro-loan institution in Cambodia.
After becoming the No. 1 shareholder with the stake, the company plans to acquire the remaining 30 percent stake in two years.
Prasac Microfinance is the No. 1 MDI with 41.4 percent market share in 2018 and 177 business networks in Cambodia.