Banking and financial services

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. ...

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. ...

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. ...

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 ...

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. ...

Cambodia, along with China and South Korea, has among the 10 most mature retail central bank digital currencies (CBDC). ...

Cambodia’s banking industry had seen robust growth in loans and deposits in 2021 despite the impact of the COVID-19 pandemic, according to a report of the National Bank of Cambodia (NBC) on Saturday. ...

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 ...

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 ...

The Ministry of Commerce and ABA Bank on Wednesday signed a memorandum of understanding (MoU) on digital payments and a knowledge-sharing partnership. ...

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, ...

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

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. ...

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

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 ...

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. ...

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. ...

The National Bank of Cambodia held five currency auctions from September 2-21 and sold $130 million on the foreign exchange (forex) market, meant to stabilise the riel’s fluctuations against the greenback, shore up economic activity during the ongoing health crisis and power a faster economic ...