24 June 2014
South
Korea-based Woori Bank has purchased Cambodian microfinance institution Malis
Finance for $4.9 million. However, the firm is still awaiting approval from
Cambodian regulators.
General
manager of Malis Finance revealed plans which was launched in 2011 with $2.25
million in start-up capital, to develop into a commercial bank within the next
five years. We’ve decided to first gain more expertise in the market by trying
our hand in the micro financing business.
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