KB Kookmin buys additional 30% stake in Cambodian microfinance unit

Major South Korean lender KB Kookmin Bank said Wednesday it has acquired an additional 30 percent stake in its Cambodian microfinance unit.

The stake purchase came after KB Kookmin took over a 70 percent stake in Prasac Microfinance Institution Ltd. in Cambodia for $603 million in April 2020.

With the latest deal, KB Kookmin now has full control over Prasac, the leading microfinance company in the Southeast Asian country with a market share of 44.6 percent.

In full: https://www.koreatimes.co.kr/www/biz/2021/10/602_317344.html

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