NBC warned counterfeit money exchange
In order to maintain the interest of tourists and general public in Cambodia to avoid the exploitation of exchange rates among of the money exchange shops, and all currency conversation business, National Bank of Cambodia (BNC) announced that money exchange shops must show license.
Chea Chanto, NBC’s governor, also has warned tourists and the public to [...]
MFIs loan increased 5.46 percent Q3
Cambodian Microfinance Association (CMA) released its figures that during the third quarter of this year, Cambodia’s microfinance institutions (MFIs), which included 21 MFIs and small loans from ACLEDA Bank, increased 5.46 percent to 448.1 million, following a 2.7 percent drop in outstanding loans in the second quarter.
According to CMA’s data, non-performing loans (NPLs) declined 1.9 [...]
Mobile phone firm cooperated with commercial bank
Smart Mobile has cooperation with Cambodia’s leading commercial bank ACLEDA to offer credit top-ups at ATMs. The phone operator signed a deal with the bank in February.
Mobile service provider Smart Mobile (093/010) entered within the Cambodian telecoms market with a world-class team of telecommunications experts offering experience from across Cambodia and across the globe.
From today [...]
Cambodia’s banking sector gains in public confidence
In the last decade, Cambodia’s banking sector has been growing sharply because the operation of commercial banks in Cambodia has gotten the public confidence. People got started to deposit their money at bank rather than keep it at home. The public confidence in the banking sector and financial system is reflected through the increase in [...]
Central bank warned of the rise of bad loans
Given the global financial crisis affecting Cambodia’s economy such as garment industry, tourism sector, construction and real estate, but the Cambodia’s banking sector is still inevitably hit by the crisis. Therefore, it is a cause for increasing in non-performing loans because the commercial banks’ borrowers have hard time to pay back loans while their business [...]
Maybank opened its 5th branch in Phnom Penh
Despite the time of the global financial crisis, Malayan banking Bhd (Maybank) still opened its fifth branch located at Olympic stadium in Phnom Penh city, it is expected that the new branch will help boost loan and deposit growth by 38 percent and 15 percent respectively by the end of June next year.
Maybank Olympic branch [...]
Electricity payment through bank’s ATMs
Cambodia’s leading commercial bank, ACLEDA, has signed a memorandum of understanding with State-own electricity provider, Electricity du Cambodge (EdC), on August 17 at Raffles Hotel Le Royal in a purpose to provide the bank’s costumers in Phnom Penh and Kandal province to pay their electricity bills through Automatic Teller Machines (ATMs).
The ceremony of signing a [...]