News

Firm to Offer Financing for Motorcycles

Thailand’s GL Finance Plc. launched its business in Cambodia on Friday by opening eight branches in Phnom Penh and Kandal province that will operate hire purchase operations out of Honda motorcycle dealership. Speaking during the opening ceremony for its branch in Phnom Penh’s Prampi Makara district, ...

Credit bureau makes doing business easier

A report released by the World Bank on Tuesday highlighted Cambodia as the most improved country in terms of businesses getting credit, due to the establishment of the country’s first credit bureau in March. Cambodia ranked 133 out of 185 in the World Bank’s report, up from 141 ...

http://www.phnompenhpost.com/index.php/2012102559400/Business/credit-bureau-makes-business-easier.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 ...

Cambodia Moves Up in World Bank Report

Cambodia rose five places to rank 133rd out of 185 countries in the World Bank’s annual Doing Business report released yesterday, with the bank attributing the rise for the most part to the successful launch of the country’s credit bureau. Compared to other countries in the ...

The Credit Bureau Cambodia at the five-month mark

Almost five months after the launch of the Credit Bureau Cambodia (CBC), experts agree that it has given financial institutions valuable new access to information about creditworthiness of potential borrowers, improving efficiency and loan quality. At the same time, there are still a few rough ...

Credit guarantee unit to serve Asean

The Credit Guarantee and Investment Facility (CGIF), an agency set up by Asean+3 and the Asian Development Bank to help develop local-currency bond and cross-border bond markets in the region, has started to operate, says chief executive Kiyoshi Nishimura. He said the CGIF will fill in ...

http://www.bangkokpost.com/business/economics/296033/credit-guarantee-unit-to-serve-asean

Credit in Banking Sector Surpasses $4B in 2011

Loan disbursals in Cambodia’s banking sector increased by 33 percent to more than $4 billion last year, as credit to the housing market and agricultural sector saw the largest amount of growth, the National Bank of Cambodia (NBC) said in its annual report, released yesterday. While ...

TTY tycoon owes potato debt, villagers say

TTY director-general Na Marady, a well-known Cambodian tycoon, has been accused of owing money to farmers from whom he bought potatoes on credit more than a year ago in Memot district’s Koki and Kompoan communes in Kampong Cham province. The villagers complained on Friday that Na ...

http://www.phnompenhpost.com/index.php/2012051456149/National-news/tycoons-debt-no-small-potatoes-say-villagers.html

CSX part of a larger capital market system

The Cambodia Securities Exchange (CSX) is an important component of a larger ecosystem of capital markets, according to Eugene Lam, CEO of OSK Indochina Securities Ltd, one of Cambodia’s securities underwriters approved by the Securities and Exchange Commission of Cambodia (SECC). Lam says one of ...

http://www.phnompenhpost.com/index.php/Special-Reports/csx-part-of-a-larger-capital-market-system.html

ADB offers $15m loan for financial-sector growth

Cambodia and the Asian Development Bank have signed their latest loan agreement of US$15 million for the development of the Kingdom’s financial sector, according to ADB. The money would be used for a number of development programs, including the improvement of regulatory regimes, creation of an ...

http://www.phnompenhpost.com/index.php/2011122153521/Business/adb-offers-15m-loan-for-financial-sector-growth.html

Chinese bank launches branch in Phnom Penh

The Industrial and Commercial Bank of China (ICBC) launched its first branch in Cambodia yesterday, bringing the total number of commercial banks in the country to 30. Speaking at the inauguration of the branch in Phnom Penh, Finance Minister Keat Chhon made an appeal to ICBC ...

Economists contest Moody's downgrades

In the past month, ratings agency Moody’s has downgraded its outlook for two of Cambodia’s largest commercial banks. On September 2, Acleda Bank’s performance outlook went from “stable” to “negative” due to risks associated with rapid credit growth and a drain on local currency by depositors. ...

Moody’s Downgrades Acleda, Cites Risk

Ratings agency Moody’s changed its outlook on Acleda Bank’s financial strength yesterday to “negative” from “stable” and downgraded its rating of the bank’s local currency deposits to Ba2 from Ba1. The rating downgrade was applied due to changes in shareholders at the bank over the ...

Online launch voice

Internet service provider Online is aiming to compete in the voice call market with its latest product, TalkMobile, a Skype-like application for handsets. Customers buy US$2 a month in credit to use the internet-based TalkMobile, and then pay prices ranging from about 6 cents a ...

http://www.phnompenhpost.com/index.php/2011070450152/Business/online-launch-voice.html

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