Posts Tagged ‘loan’

Lending remains flat at FTB Cambodia

Posted by admin on April 19th, 2010

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 last quarter of 2009. Lending remained at US$105 million each quarter.

“We’re still cautious in evaluating clients for loans, and it’s currently hard to get a good client with a good business plan,” FTB General Manager Gui Anvanith said last week. “We’ll dare to lend as much as $50 million if it’s a good business project.” (more…)

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Loan growth could hit 20pc: IMF

Posted by admin on March 22nd, 2010

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 resident representative, wrote in an email Friday. “Lending growth of between 15 and 20 percent in 2010 would be in line with a modest recovery in economic activity and a reasonable increase in loan demand.”

Cambodian banks put restrictions on their lending in the fallout from the global economic crisis, but they have continued to compete for depositors.

Loan growth grew just 3.2 percent to US$2.42 billion in 2009, up from $2.34 billion the year before, according to National Bank of Cambodia figures. Deposits rose 32.7 percent to $3.28 billion in the same period.

Deposit growth is likely to slow as banks back away from competitive offers that have created too much cash and forced them to make large deposits in the National Bank at low interest rates, Nelmes said. (more…)

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China loans $1.2bn for Cambodia

Posted by admin on December 25th, 2009

Chinese Vice President Xi Jinping officially has visited Cambodia during a three-day state visit. China agreed to give US$1.2 billion in interest-free loans for Cambodia’s economic development in 14 different agreements during a signing ceremony at the Council of Ministers.

Khieu Kanharith, Information Minister and government spokesman, told reporters during a press conference that Cambodia accepts $1.2 billion pledged in 14 different agreements during a ceremony hosted at the Council of Ministers by Prime Minister Hun Sen and Vice President Xi Jinping.

China has donated more than $2 billion in various loans and aid to Cambodia from 1992 until recent agreements. But before a signing ceremony, Beijing had offered $930 million in low-interest loans and financial aid to Cambodia since 1992.

Totaling 14 different agreements of loans will be given for economic development and soft loans for the construction of roads, transport infrastructure, communication equipment and irrigation projects.

Other agreements include a soft loan for an electricity transmission loop line around the capital to be built by China National Heavy Machinery Co, and economic and technical cooperation with an interest-free loan of 50 million yuan ($7.3 million), along with another grant of the same value – also for technical assistance – although their exact use was not specified, according to the Phnom Penh Post.

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ADB granted $59.4 m in loans to Cambodia

Posted by admin on July 5th, 2009

In response to fight against the global financial crisis, the amount of $59.4 million in concessional loans has been granted to Cambodia by Asian Development Bank (ADB).

The money has been made available through the bank’s Asian Development Fund (ADF), which received a $400 million boost Tuesday as part of a much broader $3.4 billion fiscal spending package approved by the bank’s directors, the Phnom Penh reported.

According to the Phnom Penh Post, The ADF resources are intended to finance key development investments in those low-income countries that are among the most fiscally constrained in responding to the crisis.

ADB Country Director for Cambodia Arjun Goswami was quoted but the Phnom Pen Post as saying that the Cambodian government was currently determining which sectors most needed the additional economic stimulus to offset the impact of the economic crunch. “We haven’t gone through the list yet to nail down exactly which ones.”

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