Increasing its Registered Capital to US$ 176M in total
Phnom Penh, 23 December 2020, WB Finance has recently received additional
US$ 100 Million capital injected from its sole shareowner, Woori Bank, one of the leading commercial banks in South Korea, increasing its registered capital to US$ 176 Million, in order to support further growth and accelerate business expansion of WB Finance.
The additional injection proves WB Finance’s strong position in Cambodia’s financial market, and its robust growth for the past years. It is also an indicator for stronger levels of financial strength, a wider rank in market penetration, and full-scale financial solutions in the future.
“The capital injection is another remarkable event, making positive outlook on the leaping growth of WB Finance where we will enhance our customer services while embracing convenient digital and innovative financial solutions to fit with modern lifestyles of our customers”, Said Mr. Kim Sun Kyu, Chief Executive Officer of WB Finance
Woori Bank has acquired WB Finance since 2018 and has merged its subsidiary, Woori Finance with WB Finance early this year, 2020. Injecting extra capital reaffirms Woori Bank’s commitment toward WB Finance and strong confidence in Cambodia’s economic growth.
About WB Finance
WB Finance is one of the largest Deposit-Taking Microfinance Institutions in Cambodia, serving financial services and products such as loan, savers/ deposit, domestic and international fund transfer, mobile banking, bill payment, and ATM through 136 branches cities-provinces and capital across Cambodia. As of November 2020, WB Finance presented the total asset of US$ 780 Million, total loan portfolio of US$ 597 Million and savings balance of US$ 124 Million.