Economy and commerce

Banking and financial services

ACLEDA reports 20% less net profit in Q1

Mainboard-listed commercial bank ACLEDA Bank Plc’s net profit for the first quarter ended March 31 fell 20 per cent to $35.36 million from $44.10 million last year as a result of widening net impairment loss, interest expense, and general and administrative expenses. ...

May Kunmakara
https://www.phnompenhpost.com/business/acleda-reports-20-less-net-profit-q1

IELTS available at ACLEDA’s business school

The ACLEDA Institute of Business (AIB) has teamed up with the IELTS Cambodia Official Test Centre at IDP Education to administer the English proficiency exam at the institute, as part of its ambition to gain widespread international recognition. ...

Hom Phanet
https://www.phnompenhpost.com/business/ielts-available-acledas-business-school

Realty firm inks micro-lending deal

Chief (Cambodia) Commercial Bank Plc (Chief Bank) has teamed up with local real estate company Zillennium Co Ltd as part of the bank’s plans to expand the user base of its ‘Chief Easy’ micro-lending app. ...

Hin Pisei
https://www.phnompenhpost.com/business/realty-firm-inks-micro-lending-deal

Three finance sector bodies roll out new conduct code

Three finance industry associations have jointly developed a new code of conduct aimed at ensuring transparency, building trust and strengthening customer protection in the Kingdom’s banking and finance sector. ...

May Kunmakara
https://www.phnompenhpost.com/business/three-finance-sector-bodies-roll-out-new-conduct-code

Cambodia-based Oriental Bank, BPC partner for digital banking

Oriental Bank, a new bank in Cambodia with a digital-first strategy, has announced that it has chosen global payment provider BPC to power its digital banking experiences. ...

Khmer Times Staff
https://www.khmertimeskh.com/501033250/cambodia-based-oriental-bank-bpc-partner-for-digital-banking/

NBC heralds eco-friendly investment fund

The National Bank of Cambodia (NBC), the central bank, welcomed the Bank for International Settlements’ (BIS) February 25 launch of the Asian Green Bond Fund, an open-ended fund for central bank investments in high-quality bonds issued by sovereign states, international financial institutions and corporations. ...

https://www.phnompenhpost.com/business/nbc-heralds-eco-friendly-investment-fund

Ministry of Economy announces $100 million funding increase for SME Bank and Rural Development Bank for Agriculture

The Ministry of Economy and Finance will announce the announcement of additional funding of $100 million for the Cambodian Small and Medium Enterprise Bank and the Agricultural Rural Development Bank  to provide additional support to SMEs, agriculture and agriculture. Industry according to the press release ...

Khmer Times Staff
https://www.khmertimeskh.com/501023375/ministry-of-economy-announces-100-million-funding-increase-for-sme-bank-and-rural-development-bank-for-agriculture/

Fintechnews Singapore says digital financial services picks up steam in Cambodia

Over the past few years, digital financial services have seen greater adoption in Cambodia, a trend that was accelerated by the COVID-19 pandemic and the social distancing measures put in place to limit the spread of the virus. ...

Khmer Times Staff
https://www.khmertimeskh.com/1021708/fintechnews-singapore-says-digital-financial-services-picks-up-steam-in-cambodia/

SME Bank mulls unsecured loans for SMEs

The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) plans to waive collateral requirements for new loans to qualifying local small- and medium-sized enterprises (SME) soon, to reduce the barriers and obstacles that limit their access to the necessary cash to fund ...

Hom Phanet
https://www.phnompenhpost.com/business/sme-bank-mulls-unsecured-loans-smes

Banking and financial institutions disbursed $44.9 billion in loans, an increase of 23 percent

The National Bank of Cambodia (NBC) said that at the end of the third quarter of 2021, banking and financial institutions provided loans totaling 185.1 trillion riels or about $44.9 billion to agriculture, construction, manufacturing, services, wholesale and retail trade and household units. This accounted ...

Khmer Times Staff
https://www.khmertimeskh.com/50992206/banking-and-financial-institutions-disbursed-44-9-billion-in-loans-an-increase-of-23-percent/

Six MDIs ideal for financial progress: experts

The central bank’s decision to stop issuing new business licences to microfinance deposit-taking institutions (MDI) and encourage mergers among existing banking and financial institutions is a viable strategy that will help strengthen the Cambodian financial sector and is in line with current economic growth trends, ...

Hin Pisei
https://www.phnompenhpost.com/business/six-mdis-ideal-financial-progress-experts

MB selects strategic partner for commercial joint venture bank in Cambodia

MB and Shinsei Bank have signed a master agreement on the establishment of a commercial joint venture bank in Cambodia on Dec. 2. ...

Khmer Times Staff
https://www.khmertimeskh.com/50981817/mb-selects-strategic-partner-for-commercial-joint-venture-bank-in-cambodia/

Khmer Enterprise and CMA enter into partnership to boosting access to financial service for SMEs

Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance and the Cambodia Microfinance Association has entered into a cooperation agreement on promoting  access to finance for entrepreneurs and SMEs in the ecosystem of Cambodia. ...

Chea Vanyuth
https://www.khmertimeskh.com/50979560/khmer-enterprise-and-cma-enter-into-partnership-to-boosting-access-to-financial-service-for-smes/

Acleda rolls out KHQR payments

Local publicly-listed Acleda Bank Plc has added support for KHQR code scanning for payments on its mobile app. ...

May Kunmakara
https://www.phnompenhpost.com/business/acleda-rolls-out-khqr-payments

Korea’s KB Kookmin Bank says completes acquisition of Prasac

South Korea’s KB Kookmin Bank, New York-listed KB Financial Group Inc’s (KB) commercial banking unit, on October 20 announced the completion of the acquisition the remaining 30 per cent interest in Prasac, Cambodia’s largest microfinance institution, as it expands its business into the Kingdom’s financial ...

May Kunmakara
https://www.phnompenhpost.com/business/koreas-kb-kookmin-bank-says-completes-acquisition-prasac

National Bank of Cambodia announces $50 million auction tomorrow

The National Bank of Cambodia has issued a notice to banks, microfinance institutions and exchange traders to participate in the auction of US $50,000,000 for October 12, 2021. ...

Khmer Times Staff
https://www.khmertimeskh.com/50949491/national-bank-of-cambodia-announces-50-million-auction-tomorrow/

NBC introduces overnight lending facility

The National Bank of Cambodia (NBC) has introduced a marginal lending facility (MLF) to address the short-term liquidity needs of banking and financial institutions in emergency situation to carry out their business operations. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-introduces-overnight-lending-facility

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