Singapore buys into new Cambodian Post Bank

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cambodia bank tellerAn investment company owned by the Singaporean government has become a minority partner in a new commercial bank, Cambodia Post Bank, set to open in September 2013  in cooperation with Canadia Bank PLC and the country’s postal service, the Cambodia Daily reported.

Fullerton Financial Holdings, a subsidiary of Temasek Holdings, which is owned by the government of Singapore, has a 45 per cent stake in the new Cambodia Post Bank. Canadia Bank will have a 50 per cent stake in the bank, while Cambodia Post will own the remaining 5 per cent.

Cambodia Post Bank’s headquarters on Russian Boulevard, which was once home to a branch of Canadia Bank, sits a block from the Canadia Bank tower at the corner of Monivong Boulevard.

Canadia Bank is one of the largest local banks in Cambodia. The bank was established in 1991 and became privatised in 1998. It has 25 branches across the country and has been founded by tycoon Pung Kheav Se. Other important banks in Cambodia are Acleda Bank, ANZ Royal Bank, Cambodia Asia Bank, Maybank, Singapore Banking Corporation and Vattanac Bank.

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Reading Time: 1 minute

An investment company owned by the Singaporean government has become a minority partner in a new commercial bank, Cambodia Post Bank, set to open in September 2013  in cooperation with Canadia Bank PLC and the country’s postal service, the Cambodia Daily reported.

Reading Time: 1 minute

cambodia bank tellerAn investment company owned by the Singaporean government has become a minority partner in a new commercial bank, Cambodia Post Bank, set to open in September 2013  in cooperation with Canadia Bank PLC and the country’s postal service, the Cambodia Daily reported.

Fullerton Financial Holdings, a subsidiary of Temasek Holdings, which is owned by the government of Singapore, has a 45 per cent stake in the new Cambodia Post Bank. Canadia Bank will have a 50 per cent stake in the bank, while Cambodia Post will own the remaining 5 per cent.

Cambodia Post Bank’s headquarters on Russian Boulevard, which was once home to a branch of Canadia Bank, sits a block from the Canadia Bank tower at the corner of Monivong Boulevard.

Canadia Bank is one of the largest local banks in Cambodia. The bank was established in 1991 and became privatised in 1998. It has 25 branches across the country and has been founded by tycoon Pung Kheav Se. Other important banks in Cambodia are Acleda Bank, ANZ Royal Bank, Cambodia Asia Bank, Maybank, Singapore Banking Corporation and Vattanac Bank.

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