Wednesday, August 20, 2014

IFC sells 12.5 pct of Acleda to Sumitomo Mitsui


20 August 2014

The International Finance Corp, a World Bank affiliate, announced Monday the sale of 12.25 percent of Acleda Bank PLC to Japan’s Sumitomo Mitsui Banking Corp for an undisclosed sum.

A statement said IFC’s financing and technical support had helped Acleda expand its services to Laos and Myanmar where IFC is a shareholder in Acleda MFI Myanmar Co. "We have successfully supported Acleda Bank’s transition into a commercial microfinance institution and then a full-service commercial bank," said Adel Meer, IFC’s financial institutions group manager for East Asia and the Pacific.

Sumitomo Mitsui Banking Corp is a strong strategic partner that can support Acleda's continued long-term growth and contribute to Cambodia’s economic development and job creation.

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