Local banks gain trust: survey

Nearly nine out of 10 Cambodians have confidence in local financial institutions, a trend that stands in sharp contrast to Europe and the US, a poll published last week found. However, industry insiders question the results, as the Kingdom’s financial services are still under-developed. The poll from research-based consulting giant Gallup said that 87 per cent of Cambodians trust their banks. Gallup surveyed 1,000 Cambodians in April last year. … But other industry insiders said they’ve seen growing trust in financial institutions in the Kingdom. … This trust is reflected in the growing volume of bank deposits and the increasing number of bank accounts, she explained. The total number of deposits in the banking system grew last year by 29 per cent, according to figures of the National Bank of Cambodia. …

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