News

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/

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

Cambodia's banking industry sees robust growth in 2012

Cambodia’s banking sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance, a central bank’s senior official said Tuesday. “Our banking system remains robust this year despite economic crisis in Europe and economic slowdown in the ...

http://news.xinhuanet.com/english/business/2012-12/25/c_132062871.htm

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 ...

http://www.cambodiadaily.com

Banking made more accessible

The largest bank in Cambodia, Acleda Bank Plc, has extended its mobile banking and payments service to consumers without an existing banking relationship of any kind, according to a press release by global technology provider Fiserv. Established in 2010, Acleda Unity now reaches untapped consumer segments using ...

http://www.phnompenhpost.com/index.php/2012103059461/Business/banking-made-more-accessible.html

Improvements for banks after budget

Improvements to Cambodia’s banking and finance sector are expected to come about as a result of the 2013 national budget, a Council of Ministers spokesman said. “We will dedicate resources to ensuring macro-economic stability,” spokesman for the Council of Ministers, Phay Siphan said. These measures, in conjunction ...

http://www.phnompenhpost.com/index.php/2012103059460/Business/improvements-for-banks-after-budget.html

Banking Sector Sees Growth in First 9 Months

Profits at Cambodia’s largest banks continued to grow through the first nine months of the year as loan disbursals across the sector increased by about 30 percent compared to the same period in 2011, bankers said yesterday. Acleda Bank, the largest bank in the country, this week posted ...

Economy Strong but IMF Warns of Risks

Strong exports, increasing numbers of tourists and a recovering real estate sector are driving strong economic growth this year, but the gross domestic product outlook could still be offset by an unstable global economy, weak demand from the West and an overheating banking sector, the International ...

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 ...

http://www.phnompenhpost.com/index.php/2012100259030/Business/vietnamese-bank-invests-in-cambodia.html

Microfinance: an insider's view

The story of Cambodia’s microfinance sector has been one of successful evolution, evidenced by the growing number of lenders and their continual development. Many microfinance institutions (MFIs) started as NGO-like entities, but the industry has come a long way. Today, there are 32 MFIs licensed ...

http://etmcambodia.com

Sumimoto Mitsui sins agreement with Acleda

One of Japan’s biggest banks, Sumimoto Mitsui Banking Corporation (SMBC) signed agreement with Acleda Bank to share market data and banking services. The deal will give Japanese investors information on the economy and offer other banking services and is aimed at improving bilateral trade and investment. The deal would ...

Public, Private Sector Air Concerns on Growth

A lack of economic diversity, faith in the banking sector and slow growth in vocational training and education topped the list of concerns among economists and investors yesterday at a meeting organized by the Asian Development Bank (ADB) and the government. According to data released ...

Micro-lender Plans to Become Commercial Bank

Amret, one of the largest micro-finance institutions (MFIs) in the country, has announced that it is making plans to raise the capital required to become a full commercial bank by 2015, an official at the institution said yesterday. Chea Phalarin, CEO of Amret, said the decision to expand ...

Prices and Monetary Developments

Price levels picked up during the first half of 2012 but will likely cool down in the second half of the year due to changes in energy prices and major food related items. Therefore, the inflation rate has been upwardly adjusted by 30 basis points to 4.8 percent ...

http://www.etmcambodia.com/

Cambodia ‘ripe’ for money laundering

Cambodia is ripe for money-laundering and terrorist financing activities due to rampant corruption, banking-sector secrecy and an overall lack of financial transparency, a governance institute says in a report released this week. The Switzerland-based Basel Institute on Governance has ranked Cambodia the third “highest-risk” country out of 144 ...

http://www.phnompenhpost.com/index.php/2012051056082/National-news/cambodia-ripe-for-money-laundering.html

Maybank plans Cambodia subsidiary

Malayan Banking Bhd (Maybank), one of Malaysia’s largest banks, plans to transition its Cambodian branch into a subsidiary in a bid for larger market share in the Kingdom’s crowded Cambodian banking sector. The bank, which opened as a branch in 1993, received a local incorporation licence ...

http://www.phnompenhpost.com/index.php/2012040455412/Business/maybank-plans-cambodia-subsidiary.html

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