National Bank Acquires a Controlling Stake in Cambodian Lender

National Bank of Canada paid $103 million to acquire a controlling interest in Cambodia’s Advanced Bank of Asia Ltd.

National Bank, which bought a 10 percent stake in the lender in 2014, now holds a 90 percent interest, the Montreal-based firm said Monday in a statement. The purchase will add an estimated 17 cents to diluted earnings per share in the current fiscal year, and reduce the Canadian company’s common equity Tier 1 ratio by about 18 basis points in the third quarter. National Bank said it’s targeting a Tier 1 ratio of 9.7 percent at the end of the third quarter.