Cambodia Post to offer banking services

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Cambodia post
Main post office in Phnom Penh

Cambodia will get a new bank, Cambodia Post Bank PLC, that aims to provide full commercial banking services including savings, loans and other credit facilities to customers when it opens in September 2013.

The new bank is a joint venture between Cambodia’s largest bank, Canadia Bank PLC, and Cambodia’s postal service with financial backing from one of Singapore’s largest financial institutions, The Cambodia Daily local media reported.

Cambodia Post will own a 5 per cent stake in the bank, while Canadia will have 95 per cent. The goal of the bank is to offer banking services within the postal service’s offices around the country, starting from Phnom Penh. Later, the whole country would be covered, with more than 50 offices in all provinces and cities.

Sources with knowledge of the venture said a partner in Cambodia Post Bank is one of the largest banks in Singapore that might eventually take over some shares in the new bank. There are speculations that it was either Oversea-Chinese Banking Corp. or United Overseas Bank.

Cambodia Post Bank’s headquarters will be adjacent to the Canadia Tower on Russian Boulevard, the report said.

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Reading Time: 1 minute

Main post office in Phnom Penh

Cambodia will get a new bank, Cambodia Post Bank PLC, that aims to provide full commercial banking services including savings, loans and other credit facilities to customers when it opens in September 2013.

Reading Time: 1 minute

Cambodia post
Main post office in Phnom Penh

Cambodia will get a new bank, Cambodia Post Bank PLC, that aims to provide full commercial banking services including savings, loans and other credit facilities to customers when it opens in September 2013.

The new bank is a joint venture between Cambodia’s largest bank, Canadia Bank PLC, and Cambodia’s postal service with financial backing from one of Singapore’s largest financial institutions, The Cambodia Daily local media reported.

Cambodia Post will own a 5 per cent stake in the bank, while Canadia will have 95 per cent. The goal of the bank is to offer banking services within the postal service’s offices around the country, starting from Phnom Penh. Later, the whole country would be covered, with more than 50 offices in all provinces and cities.

Sources with knowledge of the venture said a partner in Cambodia Post Bank is one of the largest banks in Singapore that might eventually take over some shares in the new bank. There are speculations that it was either Oversea-Chinese Banking Corp. or United Overseas Bank.

Cambodia Post Bank’s headquarters will be adjacent to the Canadia Tower on Russian Boulevard, the report said.

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