Banking and financial services

Cambodia’s microfinance sector recorded over 20 percent growth both in terms of loans and deposits by the end of 2022 compared to the same period in 2021, despite the Covid-19 pandemic and the war in Ukraine, according to the Cambodia Microfinance Association (CMA). ...

The National Bank of Cambodia (NBC) and the State Bank of Vietnam (SBV) have agreed to strengthen bilateral cooperation through exchange of experience on economy and banking system. ...

The 9th NBC Annual Macroeconomic Conference 2022 kicked-off today, highlighting how financial institutions, particularly banks, continue to be crucial participants in funding the real economy and supporting recovery. ...

Bakong payment system infrastructure has increased remarkably and has contributed to the use of financial technology and innovations, the National Bank of Cambodia said on Monday. ...

The personal loan market improved significantly in the third quarter of 2022, according to the Consumer Credit Index of the Credit Bureau Cambodia (CBC). In the third quarter, the number of consumer credit applications increased marginally from the second quarter, according to the latest report. ...

The Ministry of Economy and Finance will organize its first ever ‘Fintech Stage’ exhibition in Cambodia to promote the digital economy. The Fintech Stage will join the Cambodia Tech Expo 2022, to be held from November 11-13 at the Koh Pich Convention and Exhibition Centre. ...

Members of Cambodia’s apex bodies of the banking and microfinance industries have agreed to ease restrictions on loan repayments, reduce interest rates, as well as restructure loans for customers deemed to be significantly affected by the heavy rains and floods that have swept the Kingdom ...

The finance minister has asked South Korea’s Booyoung Group to invest more in the Cambodian financial-technology (fintech) market, which has seen remarkable growth during Covid-19, as the company’s chairman revealed preliminary plans for a university in the Kingdom focused on fintech and taxation. ...

Financial institutions said on Wednesday that they will provide favorable easing to customers who have been affected by severe floods, following an appeal by Prime Minister Hun Sen. ...

Prime minister Hun Sen on Monday called on all microfinance institutions (MFIs) to throw a financial lifeline to people affected by flooding and defer loan repayments and ease interest rates. ...

Independent financial information provider Credit Bureau (Cambodia) Co Ltd (CBC) now maintains the credit data of more than seven million customers in its core system, 10 years after its establishment, according to its chairwoman Chea Serey.​ ...

Associations of Banks and Microfinance Institutions signed a Memorandum of Understanding on Monday with a FinTech federation to promote financial literacy and inclusion as part of a move towards greater digital adoption. ...

As more Cambodians tap into the benefits of mobile banking, the Ministry of Economy and Finance is preparing to host a workshop to address the role of the banking sector and FinTech in Cambodia’s digital economy. ...

The Cambodia Microfinance Association (CMA) regarded the commentary by NGOs and civil society organizations on the industry as “biased, incomplete, and cherry-picked”, taking just the negative parts of a report produced by Germany’s Federal Ministry of Economic Cooperation and Development (BMZ) into account while ignoring ...

The Real Estate Business and Pawnshop Regulator (RPR) under the Non-Bank Financial Service Authority (FSA) of the Ministry of Economy and Finance (MEF) has prepared notifications to fine 38 businesses that provide non-bank financial services and products to customers, according to a report released by ...

The National Bank of Cambodia (NBC) along with other competent authorities are considering taking legal action against firms or individuals operating businesses that go against the banking laws and financial institutions of the Kingdom, NBC announced yesterday. ...

Cambodia’s agriculture sector has been immune from Covid-inflicted impact and enjoyed strong growth during the pandemic as financing for the sector has increased, a leading banker said on Friday. ...

The National Bank of Cambodia (NBC) said on Thursday they have joined forces with police to take legal action against those involved in fraudulent online lending saying it is a crime, and urged the public to contact official financial institutions when borrowing money. ...

Many banks and microfinance institutions (MFIs) in Cambodia have increased interest rates for deposits in dollar and riel currency by approximately 0.5 percent and 1 percent per annum respectively but not decreased rates for loans in the last three months, according to senior officials in ...

The State Bank of Vietnam (SBV) has issued a written document allowing the Military Commercial Joint Stock Bank (MB) to establish a 100 percent-owned bank in Cambodia on the ground of its branch in Phnom Penh. ...

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. ...

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. ...

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. ...

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. ...