Cambodia’s leading commercial bank, ACLEDA Bank Plc, will launch its Unity mobile-banking service next month by spending over USD1 million to establish it. And its service will initially target existing account holders and will be marketed to Cambodia’s unbanked. Mobiles phone will have access to Unity’s SMS-based banking service, including balance inquiry, mini-statements and mobile [...]
Cambodian Public Bank (Campu Bank), the second-largest lender in Cambodia, had launched its 19th branch in Kampong Bay commune, Kampot province. Phan Ying tong, the bank’s country head, was quoted by the Post as saying in press release Thursday that the opening of the branch is part of its long-term strategy of organic growth to [...]
Cambodia’s leading bank- ACLEDA bank- opened new brand in Battambang province on April 30, 2010 in order to meet customer service in that province. Opening new brand was presided by provincial governor. “Sustainability is a vital vision of ACLEDA bank. It was founded with such sustainability for 17 years ago to provide exclusive financial services [...]
THE FOREIGN Trade Bank of Cambodia saw a slight rise in its non-performing loans (NPL) in the first quarter of 2010, while lending was flat, according to official figures. The bank’s NPL rate – counted as loans the borrower has defaulted on for three months – rose to 6 percent from 5.56 percent in the [...]
ANZ and Standard Bank launched the sell down of a US$421 million 18-month bridging loan this week, to back the Royal Group’s acquisition of Millicom’s majority stake in Mobitel. The loan covers the Royal Group’s November purchase of Luxembourg-based Millicom International Cellular SA’s network operations in the Kingdom for $346 million. The acquisitions included a [...]
CAMBODIA’S banks could see lending growth climb as much as 20 percent in 2010, with a slower growth in deposits, marking a slight recovery in the sector, said the International Monetary Fund’s chief representative in the Kingdom. “Lending growth has picked up recently after a very substantial slowdown through most of 2009,” John Nelmes, IMF [...]
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 [...]