IFC sells stake in Cambodia’s commercial bank to Japanese 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
