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