28 January 2015
Cambodian microfinance institution Sathapana
Limited is merging with its majority shareholder, Maruhan Japan Bank Plc, to
become a new commercial bank that aims to be in operations early next year.
With an initial capital base of more than
$100 million, the two financial institutions will come together to form
Sathapana Bank Plc (Maruhan Japan Group), and MoU signing in Phnom Penh
yesterday. The two financial firms will integrate their loan products,
operating systems and human resources before submitting a request to the
National Bank of Cambodia for an official license. Maruhan Japan Bank, which
began operating in Cambodia in 2008, acquired a 95% share of Sathapana Limited
in 2012.
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