Thai bank buys Cambodian MFI in mammoth deal
In what may be the biggest deal in Cambodia’s financial sector history, Thailand-based Bank of Ayudhya has reached an agreement to acquire the local microfinance institution (MFI) Hattha Kaksekar, with the deal expected to be valued at upwards of $140 million.
In a statement released on 27 January, the Thai bank, commonly referred to as Krungsri, confirmed the agreement to buy Cambodia’s fourth-largest microfinance institution, paving the way for its entry into the Kingdom’s crowded and highly competitive micro-lending sector.
