Economy and commerce

Banking and financial services

Healthy profit for Acleda in first half

Cambodia’s largest bank, Acleda Bank, announced its half-yearly results on August 26, reporting a 40 per cent increase in net profits as compared to the same period last year, on the back of strong loan and deposits growth. ...

Ananth Baliga
http://www.phnompenhpost.com/business/healthy-profit-acleda-first-half

Loan growth risks up for debate

Bank deposits and loans during the first half of this year grew significantly as compared with the same period in 2014, with loans alone increasing over 30 per cent, drawing mixed reactions from industry insiders on the risks of this rapid credit growth. ...

Ananth Baliga
http://www.phnompenhpost.com/business/loan-growth-risks-debate

Commercial bank lending, deposits rising

Cambodia’s commercial banks lent $11.9 billion to customers in the first half of this year, a 33 percent increase from the amount lent during the same time last year, according to a National Bank of Cambodia (NBC) report released Tuesday. ...

Un Raksmey and Igor Kossov
http://www.khmertimeskh.com/news/14087/commercial-bank-lending--deposits-rising/

Credit bureau brings rural lenders into the fold

Five rural credit operators signed an agreement to join the Credit Bureau Cambodia on Thursday as the watchdog and the National Bank of Cambodia ramp up efforts to better monitor the country’s expansive, but largely informal, rural lending industry. ...

Kang Sothear and Tsz-kwan Ho
https://www.cambodiadaily.com/business/credit-bureau-brings-rural-lenders-into-the-fold-90227/

Microfinance loans up 47 percent in first 6 months

Cambodia’s microfinance sector is continuing to grow at a rapid pace, with loan disbursements in the first six months of this year increasing almost 50 percent on last year, according to an industry association. ...

Kang Sothear and Tsz-kwan Ho
https://www.cambodiadaily.com/business/microfinance-loans-up-47-percent-in-first-6-months-90039/

Gov’t to finish Northern rail line in 2016

The government has set aside some $33 million to finish rebuilding Cambodia’s northern rail line by late next year, according to the Transportation Ministry, reanimating a long-delayed and over-budget project that had been one of the Asian Development Bank’s priorities in the country. ...

Zsombor Peter
https://www.cambodiadaily.com/news/govt-to-finish-northern-rail-line-in-2016-89463/

Warning for illegal MFIs

The governor of the National Bank of Cambodia hit out at unlicensed microfinance institutions or lenders, who he said were the reason why interest rates in the sector were high, despite interest rates falling among registered lenders. ...

May Kunmakara
http://www.phnompenhpost.com/business/warning-illegal-mfis

IFC loans $10 million to HKL for rural SMEs

The International Finance Corporation (IFC) has given Cambodian microfinance institute Hattha Kaksekar Ltd (HKL) a loan of up $10 million, aiming to boost access to finance to small- and medium-sized enterprises in Cambodia’s rural areas.​ ...

Ayanna Runcie
http://www.phnompenhpost.com/business/ifc-loans-10-million-hkl-rural-smes

World Bank hears local officials’ woes for pending 3-year plan

High electricity prices, low wages, limited irrigation and modest rice and crop prices were among the top concerns raised by government officials at a workshop in Phnom Penh on Monday to help the World Bank decide how to spend its money on the country over ...

Aun Pheap and Zsombor Peter
https://www.cambodiadaily.com/news/world-bank-hears-local-officials-woes-for-pending-3-year-plan-87426/

Thai banks offer joint loan to provider of microfinance in Cambodia

Three Thai banks – Siam Commercial Bank (SCB), TMB Bank (TMB) and Kiatnakin Bank (KKB) – together with Netherlands-based ING Bank have offered a syndicated loan of US$65 million (Bt2.2 billion) to PRASAC Microfinance Institution, the biggest microfinance provider in Cambodia. ...

Sucheera Pinijparakarn
http://www.nationmultimedia.com/business/Thai-banks-offer-joint-loan-to-provider-of-microfi-30263464.html

Stalled interbank market clogging up liquidity

At least $1 billion in surplus liquidity is sitting idle in Cambodia’s banking system and could be unlocked if the central bank implemented a more effective interbank lending mechanism, experts say. ...

Cam McGrath
http://www.khmertimeskh.com/news/12776/stalled-interbank-market-clogging-up-liquidity/

Prasac gets $65M to expand lending

Four foreign banks, under the umbrella of the International Finance Cooperation, a member of World Bank Group, provided $65 million in syndicated loans to Cambodian microfinance institution Prasac to expand its lending portfolio. ...

May Kunmakara
http://www.phnompenhpost.com/business/prasac-gets-65m-expand-lending

$65 mln loan to expand microfinance

Three Thai banks have joined IFC’s $65 million syndication loan to a Cambodian microfinance institution to boost the access to funding of micro, small, and medium rural and agricultural enterprises, most of which are owned by women.  ...

Va Sonyka
http://www.khmertimeskh.com/news/12730/business-briefs/

Acleda adds $40M to expand operations

Cambodia’s largest bank, Acleda Bank, announced yesterday that it was infusing $40 million to add to its current capital of $226 million, as it looks to expand domestic and foreign operations and keep up with the rising demand for credit in the Kingdom. ...

May Kunmakara
http://www.phnompenhpost.com/business/acleda-adds-40m-expand-operations

Bangkok Bank returns to Cambodia with opening of Phnom Penh branch

The Phnom Penh branch, which will serve customers from all over Cambodia, is BBL’s 29th international branch and the third in Cambodia of a Thai bank. The bank resumed operations on December 30 as the 45th commercial bank in Cambodia and held the grand opening yesterday. ...

Sucheera Pinijparakarn
http://www.nationmultimedia.com/business/Bangkok-Bank-returns-to-Cambodia-with-opening-of-P-30262367.html

Men questioned in ‘fraud’

Takeo provincial police yesterday sent seven men arrested for disturbing the peace – but suspected of fraud – to the provincial court, after they were arrested on Friday in Kiri Vong district’s Kiri Chung Koh commune where they had been trying to persuade people to ...

Kim Sarom
http://www.phnompenhpost.com/national/govt-rebukes-hrw-director

NBC, JFSA to extend supervisory support

The National Bank of Cambodia and the Japan Financial Service Agency agreed yesterday to extend their cooperation on sharing experience and expertise in the areas of banking and financial sector supervision in the Kingdom. ...

May Kunmakara
http://www.phnompenhpost.com/business/nbc-jfsa-extend-supervisory-support

Cambodian, Japanese financial bodies sign cooperation deal on bank supervision

The National Bank of Cambodia ( NBC), or the Central Bank, and the Japan Financial Services Agency (JFSA) signed a cooperation agreement on Wednesday, aiming at exchanging experience and expertise in the area of bank supervision, according to a news statement. ...

Xinhua team
http://www.khmertimeskh.com/news/12161/cambodian--japanese-financial-bodies-sign-cooperation-deal-on-bank-supervision/

Vietnamese migrants arrested, deported

Cambodia’s immigration police arrested eight illegal Vietnamese migrants and deported 10 other Vietnamese nationals from the Kingdom on Wednesday. ...

Ros Chanveasna
http://www.khmertimeskh.com/news/12157/vietnamese-migrants-arrested--deported/

Advans SA increases holdings in local MFI

Luxembourg-based Advans SA Group and two other foreign investors have increased their share holdings in local microfinance institution Amret, giving Advans a controlling stake in the company. Claude Falgon, executive director of Advans SA SICAR, said that since the first stake acquisition, the business had acquired ...

May Kunmakara
http://www.phnompenhpost.com/advans-sa-increases-holdings-local-mfi

Thai firm latest to offer lease financing

Sousdey Finance, a subsidiary of Thitikorn Limited in Thailand, will start a financial hire-leasing service for motorbikes in Phnom Penh, with an initial start-up fund of $100,000. ...

Hor Kimsay
http://www.phnompenhpost.com/thai-firm-latest-offer-lease-financing

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