KB Kookmin fully owns Cambodia's No. 1 microlender Prasac Microfinance

KB Kookmin Bank acquired the remaining 30 percent stake in Cambodia’s Prasac Microfinance Institution to fully own the Southeast Asian country’s No. 1 microlender, according to the company on Wednesday. South Korea's leading commercial lender bought a 70 percent stake in Prasac for $630 million in April last year. Prasac accounted for the largest 44.6 percent share in the country’s microlending market as of last year with 180 or more branches across the country and $109 million in net income in 2020, up 5 percent from 2019.

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