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Daegu Bank closes acquisition of Cambodian lender

Daegu Bank Ltd. completed the acquisition of Cambodia-based Cam Capital Specialized Bank Plc, Yonhap News Agency reported Feb. 6.

The DGB Financial Group Co. Ltd. unit also said it has received regulatory approval and cleared registration procedures in Cambodia to launch its first overseas subsidiary, DGB Specialized Bank, which will take control of Cam Capital's five branches in Phnom Penh.

Daegu Bank originally announced an agreement to acquire the bank in October 2017.