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ING wins "Deal of the Year in Frontier Markets" award 2020 by FinanceAsia

ING has been awarded "Deal of the Year in Frontier Markets" by FinanceAsia for the M&A advisory work provided to CVC Capital Partners and Bank of East Asia on the USD 632 million sale of PRASAC Microfinance Institution in Cambodia to KB Kookmin Bank, the largest bank in Korea.

In Cambodia, PRASAC is the largest microfinance deposit-taking institution by total assets and is the 5th largest financial institution.

This deal was significant on several levels. Not only was it completed in April this year at the peak of the COVID-19 pandemic in Asia, it is also the largest ever M&A deal done in Cambodia and the largest ever in microfinance globally. According to FinanceAsia, despite COVID-19, the number of high-quality deals submitted for deal evaluation was high, and PRASAC won on the back of the size of the transaction, the parties involved, as well as the long-term positive impact on the Cambodian economy. More importantly, our clients and the buyer are pleased with the outcome of the transaction. CVC Capital Partners recently gave ING a Net Promoter Score of 9, a testament to how well they think of the bank.

This award adds to our advisory credentials and is a clear recognition of our efforts in the region. Over the past years, ING has received accolades, such as the Best Private Equity M&A Deal in Thailand, Best M&A Adviser in the Philippines etc. We remain the Number 1 FI M&A adviser in the Philippines and are now the top FI M&A adviser in the Mekong region with six deals completed since 2018.

Read FinanceAsia's official announcement