National Bank of Canada Becomes Strategic Shareholder in Myanmar's Leading Mobile Payments Business

The National Bank of Canada (NBC) has become a new strategic shareholder acquiring a 22% shareholding in ONGO, Myanmar's leading mobile payments business. ONGO is the consumer-facing brand of Ronoc Asia, a subsidiary of the emerging markets investment business Ronoc. It offers retailer payment solutions, payroll programs, and direct-to-consumer services using the latest payments technology. Montreal-headquartered NBC, together with its subsidiaries, forms one of Canada's leading integrated financial groups and offers services to consumers, small and medium-sized enterprises, and large corporations. The terms of the deal were not disclosed.

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