<article>Dutch development bank <a href="https://www.dealstreetasia.com/?s=FMO" target="_blank" rel="noopener noreferrer">FMO</a> has made a $16.5-million investment in Cambodia-based <a href="https://www.dealstreetasia.com/?s=Sathapana+bank" target="_blank" rel="noopener noreferrer">Sathapana bank</a> to support the bank’s growth plans.</article>

Dutch development bank <a href="https://www.dealstreetasia.com/?s=FMO" target="_blank" rel="noopener noreferrer">FMO</a> has made a $16.5-million investment in Cambodia-based <a href="https://www.dealstreetasia.com/?s=Sathapana+bank" target="_blank" rel="noopener noreferrer">Sathapana bank</a> to support the bank’s growth plans.
The funding will help Sathapana, which had earlier raised financing from FMO in 2014, cater to micro, small and medium enterprises (MSMEs) and support its digitization plans, according to an FMO disclosure.
Sathapana Bank is a commercial bank established in April 2016 as a result of a merger between MARUHAN Japan Bank Plc, a Japanese-owned commercial bank in Cambodia, and local microfinance institution Sathapana Limited. The bank currently operates across 172 branches in Cambodia, providing access to finance to individuals, SMEs and corporates.
The FMO funding will be used as part of a $40-million facility equally split between FMO and OFID (OPEC Fund for International Development), the development finance institution established by the member states of OPEC.
Back in 2014, FMO had offered Sathapana, then a deposit-taking microfinance institution, a $15-million investment to support its MSME portfolio.
Soon after it was established as a bank in 2016, Sathapana raised $35 million in a syndicated loan from Taiwanese lenders. A year later, the bank raised $50 million as a bilateral loan from the Bangkok branch of Japan’s Mizuho Bank.
At the end of December 2018, Sathapana had total assets of $1.3 billion, including loans to customers worth $1 billion, while deposits from customers and financial institutions stood at $804 million.
Sathapana is also present in Myanmar as a deposit-taking microfinance institution.
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The funding will help Sathapana cater to micro, small and medium enterprises (MSMEs) and support its digitization plans.

Cambodia’s Sathapana Bank bags $16.5m from Dutch development bank FMO

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Cambodia’s Sathapana Bank bags $16.5m from Dutch development bank FMO

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