Groupe BRED is carrying out two capital increases. The first, of USD 35m for its subsidiary BRED Bank Cambodia and the second, of nearly USD 36.5m for its subsidiary BRED Bank Fiji. These contributions are intended to accelerate the development of its international network in Asia and the Pacific.
BRED BANK CAMBODIA
The first European commercial bank in Cambodia, BRED Bank Cambodia was created ex nihilo in 2017. It is a wholly-owned subsidiary of the BRED Group. Its head office is located in Phnom-Penh. Its network consists of nine branches and more than 240 employees. BRED Bank Cambodia reached operating profitability from its third financial year.
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.