Terms of the deal have not been disclosed.
The deal will enable Krungsri to expand its consumer banking and microfinance operations outside Thailand.
Claimed to be the fourth largest microfinance institution in Cambodia, the HKL provides both loan and deposit products to its customers.
HKL operates 151 offices and 102 ATMs across the country. As of last December, the institution had total assets of $446m and loan of $364m.
Krungsri president and CEO Noriaki Goto said: "The share acquisition in HKL will enable the Bank to capture growth opportunities arising from the rapid development in the CLMV countries.
"The acquisition also offers a meaningful footprint for Krungsri in Cambodia to enhance our CLMV strategy, particularly values from business opportunities pertaining to both growing domestic market as well as cross border connectivity in the future."
HKL president and CEO Hout Iengtong said: "Enhanced by the expertise of Krungsri in retail banking and microfinance management, HKL will be further developed to become a much larger microfinance service provider with an even more robust operating platform, assisting customers to succeed in their businesses with suitable financial products and services."
The deal is subjected to satisfactory regulatory approvals and fulfillment of certain conditions, including the approval of Krungsri’s shareholders’ meeting.
