Thailand's Kasikornbank gets approval for $40m stake in Myanmar lender

Thailand's Kasikornbank gets approval for $40m stake in Myanmar lender

FILE PHOTO: The logo of Kasikornbank is pictured next to a national flag at a Kasikornbank in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha/File Photo

Thailand’s Kasikornbank said on Saturday it plans to invest up to $40 million in a 35% stake in Myanmar’s Ayeyarwaddy Farmers Development Bank after receiving approval from Myanmar’s central bank.