JB Financial targets Central Asia through acquisition of 2 Kyrgyz firms
JB Financial Group is expanding into Central Asia through the planned purchase of two Kyrgyz financial firms, broadening an overseas business portfolio built largely around Southeast Asia, the company said Thursday. JB Woori Capital, its consumer finance subsidiary, has agreed to buy Korky Credit and Korky Leasing from their parent, Epoche. The deal covers all shares in both companies and is…
JB Financial Group is expanding its reach into Central Asia by acquiring two Kyrgyz financial firms, Korky Credit and Korky Leasing, from their parent company Epoche. The acquisition, which includes all shares in both companies, is set to close before the end of the year, pending regulatory approval and registration in Kyrgyzstan. This move will give JB Financial a presence in its fifth overseas market, in addition to its existing businesses in Cambodia, Myanmar, Vietnam, and now Kyrgyzstan.
The acquisition of Korky Credit and Korky Leasing is driven by Kyrgyzstan's young population and rapid economic growth. Approximately 70% of the country's population is under 40, and its economy expanded by 11.1% last year, according to the International.
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