Promotions few in financial sector

In late 2009, two months after graduating with a degree in economics, Heng Piseth found a job as a credit officer with a microfinance institution in Kampong Thom province. …

The story reflects a larger trend confronting young Cambodians entering the financial sector’s job market. While thousands graduate university and move into entry-level jobs, the upper rungs are becoming increasingly scarce. …

Grant Knuckey, CEO of ANZ Royal Bank, said the Cambodian banking sector has a significant “talent deficit”. He said there is simply not the capacity for the industry to absorb the drove of inexperienced employees and train them adequately.

“The market is in fact growing significantly, but the ability for individuals to get promoted may be more difficult than in the past because the competition is more intense as more people join the industry,” he said. …

According to a recent report from the Cambodian Microfinance Association, the number of employees who work at the 35 microfinance institutions and Cambodia’s biggest commercial bank, Acleda, was about 23,000 at the end of June, a 6.6 per cent increase from an estimated 21,700 at the end of December 2012. …

http://www.phnompenhpost.com/business/promotions-few-financial-sector