FMO, the Dutch entrepreneurial development bank, today announces that the sale of 50 percent of its ownership stake of 20% in Amret, a leading microfinance institution and one of the top 10 financial institutions in Cambodia, has been completed. The transaction was officially registered earlier today in Phnom Penh, Cambodia. FMO will remain a 10% shareholder for two more years, maintaining its board position and ensuring a smooth transition and responsible exit.
The acquirer, Bank SinoPac based in Taiwan, fully supports Amret's mission and is committed to a market-leading approach to Sustainability, ESG, and Client Protection Principles. The agreement signed by the shareholders and Bank SinoPac explicitly states that Amret's mission will be preserved and that a dedicated Client Protection Principles Committee will be established within the Amret Board.
FMO has been an Amret shareholder since 2008. With an eye on our additionality requirement as a development finance institution, the time was right to transition ownership into a responsible commercial bank that shares Amret’s mission and could bring the required financial, technological, and operational resources to take Amret into its next phase of sustainable development. FMO will continue to support responsible lending and consumer protection in the Cambodian finance sector more broadly, which includes working with the United Nations & NBC initiative to enhance dispute resolution mechanisms in the sector.
Bank SinoPac has been a lender to Amret since 2017 and knows the institution particularly well. The bank has a strategic goal to expand deeper into Southeast Asia, and the acquisition of Amret is its first major step toward realizing this ambition. Their alignment with Amret’s mission, as well as their appreciation for the institution’s strategy, responsible lending, and strong team culture, underscores the shared commitment to a smooth transition.
