ព័ត៌មាន
HLB gets nod to open bank in Cambodia
Hong Leong Bank Bhd (HLB) has received approval from Cambodia’s Ministry of Commerce to open a wholly-owned, locally incorporated commercial bank in Cambodia. HLB said with a capital of US$37.5 million (RM116.2 million), Hong Leong Bank (Cambodia) Plc will commence operations in Cambodia within ...
No plans for Islamic banking services yet
WHILE investments from the Middle East into Cambodia are expected to increase over the next few years, the central bank here currently has no plans to launch Islamic banking services. Recent events like Qatar Airway’s Doha-Phnom Penh flights, which launched earlier this month, have been expected ...
http://www.phnompenhpost.com/2013022761645/Business/no-plans-for-islamic-banking-services-yet.html
Qatar plans bank in Cambodia to enhance trade
Qatar’s ambassador to Cambodia says his country wants to open a bank here in an effort to enhance, and attract more, trade and investment from Middle East countries to the Kingdom. Bloomberg reported yesterday that Arqaam Capital, a Dubai-based investment bank, had said it was ...
National Bank of Cambodia Reports Lending Surge in 2012
Lending by commercial banks in Cambodia grew by more than one-third last year, according to figures provided by the National Bank of Cambodia (NBC) yesterday. Banks lent out a total of $5.89 billion in 2012, compared with $4.39 billion in 2011, NBC figures show, meaning ...
http://www.cambodiadaily.com/business/national-bank-of-cambodia-reports-lending-surge-in-2012-11368/
Cambodia Sees Massive Foreign Investment Growth in 2012
Investment in Cambodia from overseas surged by at least 44 percent last year, according to an estimate from the central bank, despite figures suggesting a reduction in the overall flow of foreign currency into Southeast Asian economies. Nguon Sokha, director-general of the National Bank of Cambodia, ...
Malay Hong Leong Bank plans Cambodian branch
Malaysia-based Hong Leong Bank, a subsidiary of Hong Leong Financial Group Berhad, is planning to open a branch in Cambodia sometime this year, which would make it the fourth Malaysian bank and the 33rd commercial bank in Cambodia’s crowded banking industry. Ngoun Sokha, director general of the ...
Cambodia's inflation rate fell to 3 per cent in 2012
Cambodia’s inflation rate fell to an annual three per cent last year, down from 4.9 per cent a year earlier, according to data from the National Bank of Cambodia released in late January. Chea Chanto, the bank’s governor, told an annual meeting in late January that ...
Loans and deposits climb
Loans and deposits at Cambodia’s 32 micro-finance institutions and four NGOs, as well as small loans from Acleda Bank, rose sharply last year compared with a year earlier. Industry players say this is a result of the Kingdom’s rapid economic improvement and political stability. Official data from ...
http://www.phnompenhpost.com/2013020461166/Business/loans-and-deposits-climb.html
Cambodia's inflation stands at 3 pct last year: central bank governor
Cambodia’s inflation rate decelerated to 3 percent last year, down from 4.9 percent in a year earlier, Governor of the National Bank of Cambodia (NBC) Chea Chanto said Saturday. “This is a remarkable drop and the 3-percent rate last year is low and controllable,” he said ...
http://news.xinhuanet.com/english/business/2013-01/19/c_132113989.htm
Anti-corruption bonus yet to be seen
Customs and Excise Department officials are complaining that a promised salary bonus meant to serve as an incentive to avoid corruption has yet to be doled out, even though the program began last June. The initiative, managed by the Ministry of Economics and Finance, was supposed ...
http://www.phnompenhpost.com/2013011160738/National/anti-corruption-bonus-yet-to-be-seen.html
Cambodia faces risks from a credit boom, the IMF warns
The International Monetary Fund has warned that a credit boom in Cambodia poses a threat to economic growth. Banks have been cutting interest rates to win customers and private sector credit has increased by almost a third in the past 12 months, the fund said. This ...
Banks give students some tips
The first Banking Careers Forum, organised on Friday by CamEd Business School with the support of leading banks and Micro Finance Institutions (MFIs), attracted hundreds of students – the majority of them studying accounting and banking – to participate and find job opportunities in the ...
http://www.phnompenhpost.com/2013010760648/Business/banks-give-students-some-tips.html
Bank Accounts Rare in Cambodia, Even for Rich
Despite an expanding financial sector, increasing access to credit and strong economic growth in recent years, fewer than 1 in 20 Cambodians has a bank account, according to a new policy working paper by the World Bank. According to the paper – released earlier this month ...
http://www.cambodiadaily.com/business/bank-accounts-rare-in-cambodia-even-for-rich-6957/
MFIs as one commercial bank
PhillipCapital, a Singapore-based integrated financial services provider and a majority stakeholder in three of Cambodia’s micro-finance institutions (MFIs), plans to consolidate the three into a commercial bank. ...
http://www.phnompenhpost.com/2012122560462/Business/mfis-as-one-commercial-bank.html
National Bank Constructing New Office Building
The National Bank of Cambodia (NBC) is constructing a spacious new office building in Phnom Penh’s Sen Sok district, though officials at the central bank yesterday insisted there were no plans in store to vacate their current, storied headquarters on Norodom Boulevard. “The headquarters will remain where it is ...
World Bank Report Predicts 6.6 Percent Growth
Cambodia’s economy will grow by an average of 7 percent in each of the next five years, the World Bank said yesterday in a report on the country’s economic outlook. In its periodic update on economies in the region, the World Bank predicted gross domestic product ...
$500M Leaves Cambodia Illegally Each Year
Almost $500 million a year was taken out of Cambodia in “illicit financial flows” between 2001 and 2010, a report released yesterday in the U.S. claims. People in the Cambodian finance sector, however, expressed doubts about the accuracy of the figure, which appears in a report ...
http://www.cambodiadaily.com/business/500m-leaves-cambodia-illegally-each-year-6748/
ACLEDA builds new HQ
ACLEDA Bank, Cambodia’ leading commercial bank, held a ground-breaking ceremony yesterday for its new 20-storey headquarters, which will be located directly behind its present building. The new headquarters will cover 43,000 square metres, with parking for 700 cars. Construction is scheduled for completion in two years. ...
http://www.phnompenhpost.com/2012121860336/Business/acleda-builds-new-hq.html
New services, branches in Cambodia woo bank customers
Maybank, one of the largest banks in Cambodia, has officially launched an internet banking service to provide a convenient service to its more than 10,000 customers and says it hopes to increase that number by around 10 per cent. The service, called M2U, will enable customers ...
http://www.phnompenhpost.com/Business/new-services-branches-woo-bank-customers.html
Prasac inaugurates new HQ in Phnom Penh
Officials expressed optimism that microfinance institution Prasac would be able to attract more deposit placing clients, after the inauguration of its new headquarters in Phnom Penh’s Boeung Tompun district yesterday. Representatives from the National Bank of Cambodia and Prasac expect the new 10-storey building to enhance ...
http://www.phnompenhpost.com/Business/prassacs-new-hq-inaugurated.html
Cambodia Bourse Sees End to IPO Drought
Cambodia’s stock market is set for a revival early next year when initial public offerings are expected by at least four local companies, ending a drought for a bourse that has hosted just one listing since its trading debut in April. State-owned Telecom Cambodia and Sihanoukville ...
http://online.wsj.com/article/SB10001424127887323894704578114560882515832.html?mod=googlenews_wsj
Cambodia Real Estate Could Benefit From QE3
Cambodia’s highly dollarized economy could benefit from a rush of foreign capital into Asia unleashed by the U.S. Federal Reserve’s latest economic stimulus, unlike some of its Asian neighbors, as it lifts demand for real estate and garment exports in the developing country, a senior ...
http://online.wsj.com/article/SB10001424127887323894704578106160673901682.html?mod=googlenews_wsj
Microfinance deal applauded
The National Bank of Cambodia (NBC) and a microfinance industry insider applauded one of Cambodia’s top 10 MFIs Sathapana Limited, for changing the majority shareholder to a commercial bank. They said it proves a positive and strong funding source is essential for MFIs to peruse their ...
Reserve rate doesn't worry local banks
Bankers have raised no concerns over the National Bank of Cambodia’s increase to the reserve requirement rate in order to maintain the stabilization of cash flow and inflation during a time of global financial difficulty. The increase, from 12 to 12.5 per cent, issued late last month, was ...