Phnom Penh (FN), August 31 – AMK, a microfinance institution based in Cambodia, announced in the press release that it has sold 80 percent of its shares to a Chinese bank called "The Shanghai Commercial & Savings Bank, Ltd. - SCSB".

AMK said their three existing shareholders will withdraw and that the mission and vision of SCSB and AMK are similar – to help poor people improve their living standards through sustainable and suitable microfinance services.

"We believe SCSB is a viable bank that can bring AMK forward,” said Kea Borann, CEO of AMK.

By May 2018, AMK employs over 2,600 staff, serving over 780,000 clients with loan portfolio of more than $230 million and $126 million deposit.

SCSB holds total assets of more than $58 billion and a capital of more than $1.3 billion, and a shareholder equity of more than $5.5 billion.
=FRESH NEWS