Korean bank to set up a new commercial bank in Cambodia

Week of March 26, 2007
The Asian Banker (Singapore)

Korea’s Busan Mutual Savings Bank plans to set up a commercial bank in Cambodia’s Phnom Penh in May 2007. The new bank will have an initial paid-in capital of $15 million. Busan Mutual Savings Bank will own 19.8 percent, while the remaining stake will be owned by other Korean investors.