Vietnamese bank to extend operation
Vietnamese Bank Sacombak (Cambodia) Plc, a wholly-owned subsidiary of Sacombank in Vietnam, will extend its operation in the Cambodian financial market, according to a bank official. Nguyen Nhi Thanh, CEO and President of Sacombank in Cambodia, said during the first anniversary celebration after the bank’s transformation into a 100 per cent foreign-owned bank yesterday that the bank would open more branches in Phnom Penh at the end of this year and in other provinces in the following years. … According to a press release, as of September 2012, the total raised equity capital has reached US$42 million, while the current total assets increased to more than $99 million.
