Robust outlook for Cambodian banks

Headquarters of the Cambodian Public Bank in Phnom Penh. Photo © Arno Maierbrugger

The banking system in Cambodia is expected to remain robust in 2013 despite the economic crisis in Europe and the economic slowdown in the US, Nguon Sokha, Director General of the National Bank of Cambodia (NBC), which is the regulator of the country’s banking and financial institutions, said on December 26.

The sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance in the country and the ASEAN region, Sokha added.

“Both loans and deposits have sharply increased in 2012,” she said.

According to the latest statistics provided by the NBC, Cambodia’s 32 commercial banks have lent $5.49 billion to private sectors by November 2012, a plus of 30 per cent year-on-year.

The loans went mostly to the sectors of trades, real estate, construction and mortgage, agriculture, manufacturing, tourism and services.

On the deposit side, the banks have received $6.02 billion by November 2012, plus 24 per cent over the same period in 2011. The banks are serving about 1.6 million borrowers and 1.9 million depositors, the NBC added.

“We believe that the sector will continue to grow at a similar rate in 2013,” Sokha said.

Major banks in Cambodia are Acleda Bank, Cambodia Asia Bank, Vattanac Bank, Advanced Bank of Asia, Phnom Penh Commercial Bank, Canadia Bank, Cambodia Commercial Bank, Cambodian Public Bank, ANZ Royal Bank, Mekong Bank, Union Commercial Bank, Foreign Trade Bank, Singapore Banking Corporation and Union Commercial Bank.



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[caption id="attachment_6159" align="alignleft" width="300"] Headquarters of the Cambodian Public Bank in Phnom Penh. Photo © Arno Maierbrugger[/caption] The banking system in Cambodia is expected to remain robust in 2013 despite the economic crisis in Europe and the economic slowdown in the US, Nguon Sokha, Director General of the National Bank of Cambodia (NBC), which is the regulator of the country’s banking and financial institutions, said on December 26. The sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance in the country and the ASEAN region, Sokha added. “Both loans...

Headquarters of the Cambodian Public Bank in Phnom Penh. Photo © Arno Maierbrugger

The banking system in Cambodia is expected to remain robust in 2013 despite the economic crisis in Europe and the economic slowdown in the US, Nguon Sokha, Director General of the National Bank of Cambodia (NBC), which is the regulator of the country’s banking and financial institutions, said on December 26.

The sector has maintained strong and steady growth in terms of loans and deposits in 2012 thanks to better economic performance in the country and the ASEAN region, Sokha added.

“Both loans and deposits have sharply increased in 2012,” she said.

According to the latest statistics provided by the NBC, Cambodia’s 32 commercial banks have lent $5.49 billion to private sectors by November 2012, a plus of 30 per cent year-on-year.

The loans went mostly to the sectors of trades, real estate, construction and mortgage, agriculture, manufacturing, tourism and services.

On the deposit side, the banks have received $6.02 billion by November 2012, plus 24 per cent over the same period in 2011. The banks are serving about 1.6 million borrowers and 1.9 million depositors, the NBC added.

“We believe that the sector will continue to grow at a similar rate in 2013,” Sokha said.

Major banks in Cambodia are Acleda Bank, Cambodia Asia Bank, Vattanac Bank, Advanced Bank of Asia, Phnom Penh Commercial Bank, Canadia Bank, Cambodia Commercial Bank, Cambodian Public Bank, ANZ Royal Bank, Mekong Bank, Union Commercial Bank, Foreign Trade Bank, Singapore Banking Corporation and Union Commercial Bank.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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