News

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 ...

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. ...

Official figures released last week showing a surge in foreign direct investment during the first half of this year may not be the most reliable indicators of actual investment, as they reflect proposed investments rather than actual foreign direct investment (FDI), experts and executives say. ...

Cambodia was the only country in the Greater Mekong subregion to have increased its rate of exports following the 2008 global financial crisis, thanks largely to garments accounting for the majority of its manufacturing exports, a new report has found. The Greater Mekong 5 – Cambodia, ...

The Council of Ministers released a new policy on Friday aimed at boosting Cambodia’s industrial development beyond the garment and food sectors, placing Preah Sihanouk province at the center of plans to modernize the country’s economy. ...

An inter-governmental anti-money laundering group has stopped monitoring Cambodia after it said the Kingdom had made “significant progress” toward fighting financial crimes. ...

The launch of an unrated Laotian government bond on Thailand’s bond market could pave the way for Cambodia to issue its own government bond denominated in Thai baht. The Bangkok Post reported yesterday that Thailand’s Finance Ministry and Public Debt Management Office had allowed Cambodia, Vietnam ...

Despite ongoing protests over the minimum wage in the garment industry and the political deadlock that lasted well in to July, Cambodia registered over 3,000 new businesses from January to September this year. The latest data from the Ministry of Commerce reveal there were 3,025 newly ...

About 100 villagers who lost land to a sugarcane plantation, which was until recently financed by ANZ Royal Bank, traveled to Phnom Penh to protest in front of the bank’s headquarters Thursday, but failed to convince the bank to help them. Several hundred families in Kompong ...

Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...

The National Bank of Cambodia on Wednesday hosted its first annual macroeconomic conference, outlining the need to ensure Cambodia’s rapidly growing financial sector supports sustainable and inclusive economic growth while managing greater risks. Cambodia’s banking and microfinance sectors have seen enormous growth in recent years with ...

Cambodia’s business community welcomed the news yesterday that the county’s longest-ever parliamentary deadlock had come to an end – a resolution investors say will help ease fears of political instability. The ruling Cambodian People’s Party and the opposition Cambodia National Rescue Party yesterday struck a deal ...

ANZ Royal Bank and local microfinance institution Hattha Kaksekar Limited (HKL) on Monday entered into the first partnership of its kind in Cambodia in a bid to bring together clients from either side of the financial spectrum. Following the signing of a Memorandum of Understanding at ...

The Ministry of Foreign Affairs yesterday urged Cambodia and Australia to increase trade ties and encouraged greater investment from the Pacific country. Speaking at a seminar in Phnom Penh to mark the 40th anniversary of ASEAN-Australia relations, Soeung Ratchavy, secretary of state at Ministry of Foreign ...

Cambodia lacks the skilled labor force necessary to advance the economy and the government must find ways to create more valuable work as it faces fierce regional and international competition, according to a new report released Thursday by the World Bank. The report, “East Asia Pacific ...

Cambodia’s banking sector is looking to establish a collective fund to help recoup staff training expenses lost from competitors poaching employees off one another, Grant Knuckey, CEO of ANZ Royal said yesterday. Speaking at the launch of ANZ Royal’s business confidence index in Phnom Penh yesterday, ...

Executives from Australia and New Zealand Banking Group Limited (ANZ) and local partner Royal Group of Companies (RGC) both went into damage control yesterday after comments by ANZ chief executive officer Mike Smith suggesting the joint banking venture between the two was on the rocks. Royal ...

Third-party auditors hired by The Coca-Cola Company are conducting an audit of Cambodian sugar suppliers, NGO and community representatives said yesterday. “Coke has commissioned them to conduct an assessment on their suppliers. They will talk to all parties, the community, NGOs and the company,” said Eang ...

Three NGOs on Wednesday called on ANZ Royal Bank to help the hundreds of families who have lost farmland to a sugar plantation that the bank helped to finance in Kompong Speu province. The NGOs also made public a 2013 social and environmental impact assessment of ...

Locally owned Singapore Banking Corp. (SBC) will rebrand itself Thursday as Cathay United Bank (Cambodia) Corp. Ltd., or CUBC, as part of a deal that finalizes the acquisition of SBC by Taiwanese financial corporation Cathay United Bank, according to a copy of a speech that ...

ANZ Royal Bank has transacted a landmark commodities hedging deal with a local oil importer, officials at the bank said yesterday. The deal allows the company, whose name ANZ Royal would not disclose, citing confidentiality agreements, to lock in an agreed price for the future sale ...

Some of these ASEAN economies are not like the others. Singapore is 80 times richer than Myanmar and its population lives 20 years longer than Cambodia’s, while Myanmar ranks 50 places behind Cambodia in terms of global competitiveness, according to a wide-ranging analysis from the World ...

For the first time in recent memory, the Ministry of Economy and Finance has released growth projections for the first half of the year, and the numbers are good. The ministry’s preliminary data claims that from January through June, economic growth stood at 7.6 per ...

Growing cyber attacks on government institutions and infrastructure could pose a threat to Cambodia’s vulnerable banking sector, officials with the National Cambodia Computer Emergency Response Team (CamCert) said yesterday. Speaking at the fifth annual Banking and Microfinance Conference at the Intercontinental Hotel in Phnom Penh yesterday, ...