IFC sells stake in Cambodia’s commercial bank to Japanese bank

18 August 2014
Shanghai Daily
Banking and financial services / Domestic investors / Economic policy and administration / Economy and commerce / Foreign investors / Investment
ACLEDA Bank / Acleda Microfinance Institution / IFC / In Channy / International Finance Corporation / Japanese aid / Laos / Masayuki Shimura / Myanmar / SMBC / Sumitomo Mitsui Banking Corporation / World Bank

The International Finance Corporation (IFC), a member of the World Bank Group, has sold its 12.25 percent stake in Acleda bank to Japan's Sumitomo Mitsui Banking Corporation (SMBC) in an undisclosed amount after having supported Acleda for over 15 years, said an IFC news statement on Monday. IFC has partnered with Acleda bank since 1999 when the bank was undergoing a transformation from a nongovernmental organization into a microfinance institution, the statement said, adding that as a founding shareholder, IFC has helped the bank grow over the last 15 years into the largest Cambodian bank. ...

 Shanghai Daily News Staff
http://www.shanghaidaily.com/article/article_xinhua.aspx?id=235929