PHNOM PENH -- South Korean banking giant KB Financial Group is increasing its bet on Cambodia's microcredit industry, a fast-growing $13 billion sector facing increased scrutiny over concerns about overindebtedness and human rights violations.
Finance
South Korea's KB takes over Cambodia's biggest microlender
Sector hits record profits despite COVID and borrowers' overindebtedness
Prasac Microfinance Institution, Cambodia's largest microcredit lender, is now fully owned by South Korea's KB Financial Group. (Source photos by EPA/Jiji and screenshot from Prasac Microfinance Institution's website)
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