Major banks

Singapore-based Phillip Bank announced yesterday that Cambodian borrowers that can prove a consistent monthly income will be able to access lines of credit without putting down collateral. ...

Malaysia’s award-winning Public Bank, which is celebrating its 50th Golden Jubilee this year, is one of the first foreign banks to open its door in Cambodia in 1992. ...

Acleda Bank signed an agreement in Bangkok yesterday with International Finance Corporation and the Goldman Sachs 10,000 Women initiative for a $70 million long-term loan project to support Cambodia’s small- and medium-size enterprises (SME) owned by women. ...

Maybank Cambodia launched its first mobile application, which features Augmented Reality and QR Code Reader, on Saturday. ...

Facilitated by Taiwan’s First Commercial Bank, seven foreign banks provided $35 million in a syndicated loan to Sathapana Bank Plc, a newly formed Cambodian commercial bank, to expand its existing microfinance operations and broaden its commercial lending portfolio. ...

The International Finance Corporation (IFC) signed a Memorandum of Understanding with the National Bank of Cambodia (NBC) yesterday in a move that officials are predicting will usher in a new era of responsible corporate governing practices, transparency, financial risk management and public confidence in the ...

Acleda, a leading commercial bank in Cambodia, and Forte Insurance (Cambodia) signed an agreement on Friday on general insurance and micro insurance and agreed to establish a basic framework to cooperate and promote a range of insurance products. ...

Two weeks since the central bank launched its FAST system, which provides instant riel-denominated fund transfers between banking institutions, operations are running smoothly, with usage of the new electronic payment system expected to pick up as it integrates more customers.   ...

ACLEDA Bank announced its first-quarter results for 2016 on Friday, reporting $30.19 million in profit for the quarter, up almost 21 per cent compared to the same period last year.   ...

Cambodia’s current account balance deficit was the equivalent of $542 million in the fourth quarter of 2015, the equivalent of 11.5 per cent of GDP, the National Bank of Cambodia said in a report released yesterday.   ...

The National Bank of Cambodia will launch a new payment system to increase inter bank activity in a move to shore up confidence in the Kingdom’s rapidly expanding banking sector, it said in a press release yesterday. ...

Acleda Bank Plc., the country’s largest commercial bank by branches, has seen rapid growth in online transactions – now about $500,000 a month – since it launched its e-commerce payment gateway late last year, a senior executive at the bank said yesterday. ...

The National Bank of Cambodia (NBC) has doubled the minimum capital requirements for commercial banks and significantly raised the requirements for microfinance institutions in a move experts say will protect and consolidate the country’s banking sector.   ...

Malayan Banking Bhd (Maybank) is further strengthening its operations in Cambodia with the launch of Maybank Tower, a new 10-storey corporate office in the country. ...

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. ...

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. ...

Kasikornbank, Thailand’s fourth-largest bank by assets, has received a licence to open its first branch in Cambodia, a bank executive said yesterday. ...

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. ...

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) ...

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.  ...

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. ...

The Cambodian hire-purchase subsidiary of Aeon Thana Sinsap (Thailand) or Aeonts has become the first Japanese financial firm to receive a specialised bank licence to do credit-card business in the neighbouring country, according to a statment to the Stock Exchange of Thailand Aeon Microfinance (Cambodia), ...

Japan-based JCB International (JCBI), a global payment brand and a leading credit card issuer and acquirer, has reached an agreement with Cambodia Public (Campu) Bank to expand the reach of its JCB cards in Cambodia. ...

The National Bank of Cambodia has decreased the minimum value of negotiable certificates of deposit (NCDs) in a bid to promote interbank lending in the Kingdom’s crowded financial industry. ...