Taiwan finance group SinoPac enters race in Cambodian banking

TAIPEI -- The Taiwanese financial conglomerate SinoPac Holdings is entering the Cambodian banking industry by acquiring a local institution that is majority-held by Western investors, the latest example of the diversification of Taiwanese investment into Southeast Asia.

SinoPac announced over the weekend that its subsidiary Bank SinoPac will acquire 100% of Amret, Cambodia's largest microfinance deposit-taking institution by total assets, from existing shareholders.