Economy and commerce
Banking and financial services
Crop insurance takes root
A pilot project that offers micro-insurance to help rice farmers cope with the risks of flooding and drought is looking to build on the success of its first season by scaling up beyond three existing provinces. ...
Cheng Sokhorng
http://www.phnompenhpost.com/business/crop-insurance-takes-root
ANZ Ceo leaves on note of caution
The outgoing CEO of ANZ Royal Bank is leaving with a note of caution about the swift growth of lending in Cambodia, while noting that the banking sector had become much more competitive and technologically advanced during his four-year tenure at the helm of one ...
May Kunmakara
http://www.khmertimeskh.com/news/21902/anz-ceo-leaves-on-note-of-caution/
MFI summit to mark decade of growth
The National Bank of Cambodia is hosting the National Summit on the Development of the Microfinance Sector in Cambodia next month, marking a decade since the government announced that 2006 was the “Year of Microfinance.” ...
May Kunmakara
http://www.khmertimeskh.com/news/21836/mfi-summit-to-mark-decade-of-growth/
Major Thai lender Kasikornbank to open first Cambodia branch
Kasikornbank, Thailand’s fourth-largest lender by assets, plans to open its first branch in Phnom Penh by August, according to a report from Nikkei Asian Review. ...
Sum Manet
http://www.khmertimeskh.com/news/21765/major-thai-lender-kasikornbank-to-open-first-cambodia-branch/
Mammoth year in kingdom’s microfinance sector
Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. ...
Cam McGrath and Cheng Sokhorng
http://www.phnompenhpost.com/business/mammoth-year-kingdoms-microfinance-sector
Banks to shift from growth to efficiency
Since its launch in 2005, ANZ Royal Bank has grown to become one of the top-end banks in Cambodia, and has increased its focus on core areas of e-banking, corporate clients and introducing efficiencies in its operations. ...
Ananth Baliga
http://www.phnompenhpost.com/business/banks-shift-growth-efficiency
IFC provides $50m to Amret micro-lender
The International Finance Corporation (IFC) will provide a $50 million financing package to Amret Co to help the Cambodian microfinance institution increase lending to smaller businesses, particularly those in the agriculture sector and rural areas, it said in a press release. ...
Post Staff
http://www.phnompenhpost.com/business/ifc-provides-50m-amret-micro-lender
IFC offers Acleda Bank $50M for SME lending
The International Finance Corporation (IFC) will provide a $50 million syndicated loan to Acleda Bank to boost lending to small and medium enterprises, of which at least half will support women-owned enterprises, it said yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/ifc-offers-acleda-bank-50m-sme-lending
ANZ still owes villagers over sugar loan: Oxfam
Australian banking giant ANZ has come under fire for its response to a scandal over its financing of a sugar plantation previously linked to forced evictions and child labour in Kampong Speu province. ...
Charles Rollet
http://www.phnompenhpost.com/national/anz-still-owes-villagers-over-sugar-loan-oxfam
Banking on human resources
Acleda Bank, Cambodia’s largest bank, is morphing its existing training centre into a full-fledged educational institution, after obtaining a licence last month. The new institute will look to provide bachelor’s and master’s degrees in business administration, with majors in finance and banking. The Post’s Sorn ...
Sorn Sarath
http://www.phnompenhpost.com/business/banking-human-resources
Thai Kbank to launch in Cambodia
Kasikornbank, Thailand’s fourth-largest bank by assets, has received a licence to open its first branch in Cambodia, a bank executive said yesterday. ...
Cam McGrath
http://www.phnompenhpost.com/business/thai-kbank-launch-cambodia
Microfinance growth slows in final quarter
Growth in the country’s expanding microfinance sector slowed slightly in the last quarter of 2015, but both loans and deposits finished the year about 45 percent higher than at the end of 2014, according to figures from the Cambodia Microfinance Association (CMA). ...
Kang Sothear
https://www.cambodiadaily.com/news/microfinance-growth-slows-in-final-quarter-107138/
Thai financial major Krungsri buys out Cambodian micro-lender HKL
Bank of Ayudhya Pcl (Krungsri), Thailand’s fifth largest financial group and a subsidiary of Japan’s leading financial group Mitsubishi UFJ Financial Group, has acquired a 100-per-cent stake of Hattha Kaksekar Limited (HKL), one of the leading microfinance institutions in Cambodia, for an undisclosed amount. ...
Chalida Ekvitthayavechnukul
http://www.dealstreetasia.com/stories/krungsri-acquires-cambodian-micro-financial-group-hkl-28704/
With AIIB, nation diversifies funding options
Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs. ...
Tej Parikh
https://www.cambodiadaily.com/news/with-aiib-nation-diversifies-funding-options-105893/
European bank adds Cambodia to network
France’s BRED Bank, one of the largest lenders in Europe, plans to open its first branch in Cambodia by the end of the year as it expands its network in ASEAN, its CEO said, adding that it aims to assist small and medium-sized enterprises (SMEs) ...
May Kunmakara
http://www.khmertimeskh.com/news/19971/european-bank-adds-cambodia-to-network/
NBC moves to strengthen banks’ liquidity
The National Bank of Cambodia (NBC) is requiring financial institutions to gradually phase in a higher liquidity coverage ratio (LCR) to ensure sustainable growth in the industry and avoid crises. ...
May Kunmakara
http://www.khmertimeskh.com/news/19748/nbc-moves-to-strengthen-banks----liquidity/
Mobile money transfer heats up
True Money, a new entrant to Cambodia’s growing mobile money-transfer market, said yesterday it will start operations across the Kingdom from January 1, with the first phase focusing only on local transfers, according to a company official.The money-transfer service, which comes under the Thailand-based Charoen ...
Kun Kourchettana
http://www.phnompenhpost.com/business/mobile-money-transfer-heats
Shinhan Bank opens 5th branch in Cambodia
Shinhan Bank announced on Dec. 23 that it has opened a new branch in Steng Min Chey, an emerging developing area in Phnom Penh, in order for Shinhan Khmer Bank, a subsidiary of Shinhan Bank in Cambodia, to accelerate its business in the country. ...
Silver coins for ASEAN
The National Bank of Cambodia (NBC), or Central Bank, has issued ASEAN Commemorative Coins to mark the establishment of the ASEAN Community on December 31, according to its statement on Friday. ...
Xinhua team
http://www.khmertimeskh.com/news/18905/silver-coins-for-asean/
Kingdom unfazed by Fed rate hike
A day after the US Federal Reserve increased interest rates, which can potentially impact incoming investments and make debt more costly, experts say the Kingdom’s strong underlying growth will help maintain investments flows and leave the country largely unaffected.The Fed’s 25 basis point rate hike ...
Ananth Baliga
http://www.phnompenhpost.com/business/kingdom-unfazed-fed-rate-hike
Give farmers a break: PM
Prime Minister Hun Sen yesterday called on banks and microfinance institutions (MFIs) to suspend loan repayments by borrowers affected by this year’s drought, or either make the loans interest free or cut the rates. ...
May Kunmakara
http://www.khmertimeskh.com/news/18453/give-farmers-a-break--pm/
‘Policymakers still stuck in comfort zone’
As the global economy faces a challenging growth environment, developed and least developed countries are increasingly competing for export markets to spur growth, with many – like Cambodia – aiming to diversify markets as well as products. Cambodia has relied primarily on exports of ...
May Kunmakara
http://www.khmertimeskh.com/news/18178/---policymakers-still-stuck-in-comfort-zone---/
Prince MFI opens in an expanding market
Prince Microfinance Plc held its official opening yesterday, becoming the 49th registered microlender to operate in Cambodia’s rapidly expanding microfinance market.Hon Sorachana, CEO of Prince Microfinance Plc, said the new financial institution will focus on providing a range of credit options to Cambodians and foreigners, ...
Kun Kourchettana
http://www.phnompenhpost.com/business/prince-mfi-opens-expanding-market
MFI seeks licence to operate as a commercial bank
Sathapana Ltd, the third-largest microfinance institution (MFI) in Cambodia, has submitted a formal application to the central bank to merge with a local Japanese-owned bank and operate the consolidated entity as a commercial bank, a company executive said yesterday. ...
Sor Chandara
http://www.phnompenhpost.com/business/mfi-seeks-licence-operate-commercial-bank