Taiwanese bank now owns 70 pct of UCB

11 September 2013
The Phnom Penh Post
Banking and financial services / Economy and commerce / Foreign investors / Investment
E. Sun Commercial Bank / E. Sun Financial Holding Co / Joseph N.C. Huang / Sofitel Hotel / Taiwan / Union Commercial Bank PLC / Yum Sui Sang

Taiwan’s E. Sun Commercial Bank has purchased a 70 per cent stake in Cambodia’s Union Commercial Bank.

The deal, planned for months but announced yesterday at a press conference at the Sofitel hotel in Phnom Penh, will bring technology upgrades and more loan capital to the Cambodian bank, according to UCB chairman Yum Sui Sang. …

UCB’s annual reports show its net profit after tax in 2012 was $5.1 million, up from 2011 net profit of about 4.5 million. …

 Kimsay Hor
http://www.phnompenhpost.com/business/taiwanese-bank-now-owns-70-pct-ucb