Phnom Penh: Expands its network to 136 branches throughout Cambodia and increases its assets to $ 496 million with a total portfolio of $ 437 million.

February 17, 2020 Phnom Penh – Global Micro Finance Co., Ltd and Uriah Finanza (Cambodia) Plc. Successfully merged into a single financial institution under the name "Global Micro Finance". Financing "and approved by the National Bank of Cambodia and the Ministry of Commerce Of the Kingdom of Cambodia. The merger is another giant step for Global Wide Holdings to expand and consolidate itself, with shareholders of Uria Bank, one of the largest commercial banks in Korea.

Utility Bank offers a range of financial products and services, including deposits, savings, mobile banking and money transfers. All of UFone's clients' accounts will be transferred to Palm Bank Media Bank under the same terms and conditions.

"The combination of Global Utility and UFire brings a positive outlook for all staff and management to a single financial institution that will continue to grow in the future," said Kim Sun Kyu, Chief Executive Officer of Global Utility. The future. We will continue to improve our customer service and bring more convenient financial solutions with digital financial services, innovative products and services to meet the modern lifestyle of our clients. This modern. ”

"This successful merger process would not have been possible without the hard work of the management and staff of both institutions, our URB team and our support. Important from the National Bank of Cambodia, the Ministry of Commerce of the Kingdom of Cambodia, the authorities, customers, partners and other stakeholders. We would like to express our deep appreciation and appreciation to our clients, both of our institutions, who have continued to use our financial products and services. In the near future, we will be a thriving financial institution with the Cambodian people by providing financial support, developing new products such as loans for government employees and developing social programs. Continuously. ”

"This is another major milestone of WBF Global, after the sale of the company's shares to Uriah Bank in 2018 and is now merged with Uriah Finan, which is now being merged with UBS Finance," said Tab Friday. One of the leading microfinance institutions in Cambodia. "We have completed the integration process smoothly and focused on this process while maintaining the best customer service for our clients."

Wifi will continue to provide financial services to Cambodia across 25 provinces and cities through its 136 branches, offering financial products and services to meet the needs of its customers in line with its mission to “become a financial institution. The leading object that provides economic potential for Cambodia to grow. ”

About WB Global Financial Institution
Palm World Bank is a licensed depository of the National Bank of Cambodia and a family member of UR, a leading commercial bank in Korea. WEBAB has been providing financial services to Cambodians for over 20 years with a wide range of financial products and services, including loans, savings, money transfer and mobile banking. As of the end of 2019, the total assets of US $ 377 million and portfolio outstanding were US $ 336 million.

About Uriah Microfinance Institution (Cambodia) Plc
Uriah Microfinance is one of the leading microfinance institutions in Cambodia and is a subsidiary of UR Bank, one of the largest banks in Korea. Oury Finance was established in 2010 and received a license from the National Bank of Cambodia in early 2011. U-Finance offers loans through its 20 branches in Phnom Penh, Kandal and Kandal. Over the years, Uriah Finan has steadily expanded its operations and will continue to provide clients with much-needed loans to support their clients in expanding their businesses and improving their lives.

About Uri Bank
UR Bank is headquartered in Seoul, South Korea, was founded in 1899 and is one of the leading commercial banks in Korea with an extensive network of branches worldwide. UR Bank offers a variety of personal banking, commercial and investment banking services through 747 domestic and 451 global affiliates in 26 countries around the world. In 2020, URB celebrates the 121st anniversary of its history in financial markets for more than a century.


Media Relations
For more information, please contact Ms. Von Srey Mao on 087 27 5555 (email protected) Or the head office of UBF Family, # 398 Monivong Street, Boeng Keng Kang 1, Boeng Keng Kang Phnom Penh, or visit our website www.wbfinance.com.kh