By Robb M. Stewart

National Bank of Canada dismissed a report it is considering selling its Cambodian unit, ABA Bank.

The Canadian lender on Tuesday said it isn't currently engaged in any process or negotiations for the sale of ABA Bank, nor has it hired any adviser. It said ABA has delivered strong growth and returns for National Bank, generating 726 million Canadian dollars ($438.4 million) in revenue and C$343 million in net income in the fiscal year to Oct. 31.

Bloomberg News, citing unnamed people familiar with the matter, earlier reported National Bank was exploring options including a sale of ABA, which could be valued at more than $2 billion.

National Bank took full control of ABA in late 2019, after steadily building its stake following a move in 2014 to buy an initial 10% interest.

Write to Robb M. Stewart at

(END) Dow Jones Newswires

03-12-24 1149ET