GIC and Norfund to acquire a 30% stake in Yoma Bank for $89m.

GIC, Singapore sovereign wealth fund, and Norfund, a private equity company, agreed to acquire a 30% stake in Yoma Bank, one of Myanmar's largest commercial banks, for $89m. "Post the introduction of the new investors, we will be the best capitalized local bank in Myanmar. One of the best things we get out of GIC is their experience across the regions. They're in many different businesses, they see many different business models and have experience in all kinds of things," Dean Cleland, Yoma Bank Chief Executive Officer.