Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadians paid $103M for ABA stake: source

Canadians paid $103M for ABA stake: source

The National Bank of Canada paid $103 million to increase its stake in Cambodia-based Advanced Bank of Asia (ABA Bank) from 42 per cent to 90 per cent, the Canadian press said yesterday, reporting on the acquisition announced on Monday.

National Bank of Canada took a controlling stake in ABA Bank with the share purchase, raising its total investment in the bank to $148 million.

A previous version of this article incorrectly stated that National Bank of Canada had acquired an additional stake in ABA Bank by purchasing shares from the bank's CEO, Askhat Azhikhanov. Records show, however, that Mr. Azhikhanov is not a shareholder in the bank. The Post apologises for any inconvenience caused.
0

Comments

Please, login or register to post a comment

Latest Video

ACLEDA’s boss on how tech is changing financial services

In today’s world of fast-changing technology, Cambodia is seeing increasing innovation in financial services.

ACLEDA President In Channy on the key to the bank’s success

Post Khmer Editor-in-Chief Kay Kimsong sat down with Dr In Channy, President and Group Managing Director of ACLEDA Bank Plc, to explore the main principle guiding Cambodia’s biggest bank.

A taste of Phnom Penh's first container night market

At the launch of Phnom Penh's newest market, The Post spoke to customers and stallholders about what the hub of bars, food stalls, shops and live music will add to the city's nightlife.