The capital increase of USD 35m is in line with BRED Bank Cambodia’s objective: to become a leading banking player in Cambodia with the middle and upper classes located in major urban centres, as well as with businesses. The transaction will increase the share capital of Bred Bank Cambodia to USD 110m.
Its growth strategy will include the signature of strategic partnerships in the distribution and real estate sectors to support Cambodia’s economic development.
“We’ve brought forward our plans because we believe in Cambodia,” says Olivier Klein, Chief Executive Officer of BRED Group. “Our direct experience and the success we’ve enjoyed in the last four years confirms the International Monetary Fund’s (IMF) view that Cambodia has exceptional potential for economic growth.”
“We are very fortunate to be part of a group that takes a long-term view,” says BRED Bank Cambodia, CEO, Guillaume Perdon, who believes that BRED Group’s co-operative bank structure allows greater investment flexibility. “We have the financial strength, even in these uncertain times, to make a substantial commitment to a programme of long-term growth.”
Read the article in the Khmer Times today: https://lnkd.in/gCSj-aU