August 28, 2019 / 5:59 PM / 3 months ago

National Bank of Canada says has agreed to take full control of ABA Bank in Cambodia

FILE PHOTO: The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie

TORONTO (Reuters) - National Bank of Canada has agreed to take full control of ABA Bank in Cambodia, executives said on a conference call on Wednesday.

National Bank has purchased the 10% of ABA Bank it does not already own, and is awaiting regulatory approval from Cambodia’s central bank, expected in the next few weeks, executives said on the call.

The stake was held by Damir Karassayev, the former head of the Kazakhstan Stock Exchange.

Reporting By Nichola Saminather; Editing by Chizu Nomiyama

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