Cambodia’s banking sector stable despite ongoing political row over poll results
Cambodia’s banking sector remains stable with steady growth in business operations even though political tension between the ruling party and the opposition party over election results is still going on, Central Bank’s chief said Friday. “The banking sector has been developing soundly, in terms of scope, operational scale and products,”Chea Chanto, governor of the National Bank of Cambodia (NBC), said during the inauguration of a Malaysia’s Hong Leong Bank-Cambodia. … The Southeast Asian nation has 34 commercial banks serving about 1.6 million borrowers and 1.9 million depositors, according to the NBC. Meanwhile, Chea Chanto expressed his optimism that the country’ s economy would grow by 7.6 percent in 2013, driven by strong growth of garment exports, agriculture, tourism and construction. “The strong growth is a result of macroeconomic stability,”the governor said, adding that inflation was expected at a manageable level of 5 percent. …
Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2013-08/23/c_132657163.htm
