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National Bank Of Canada Boosts Stake In Cambodia-based ABA Bank To 100%

National Bank of Canada (NA.TO) announced Wednesday that it has increased its stake in Cambodia-based ABA Bank (Advanced Bank of Asia Ltd.) to 100% with an additional investment of $63 million or C$83.5 million.

Founded in 1996, ABA Bank is one of Cambodia's leading financial institutions. It has assets of almost $4 billion or C$5.3 billion.

National Bank became a shareholder of ABA Bank in 2014 with an initial 10% interest. It made additional investments to bring its stake up to 42% in 2015 and to 90% in 2016. National Bank's investment in ABA Bank now totals $320 million or C$424 million.

During the first nine months of fiscal 2019, the additional 10% stake acquired in ABA Bank would have increased National Bank's diluted earnings per share by $0.03. In the fourth quarter of fiscal 2019, the transaction will have a negligible impact on common equity Tier 1 capital ratio according to Basel III.

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