Tag Archives: banking sector

ADB grants soft loan for financial system reform

According to the Asian Development Bank (ADB)’s announcement, it would be granting a US$10 million soft loan to develop and reform the Cambodian government’s financial system such as the establishment of a financial intelligence unit at the National Bank of Cambodia to combat money laundering, strengthening of supervision of the banking sector, installation of an … Continue reading

Microfinance loan up 5.46 percent in 3th quarter

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 … Continue reading

Foreign Exchange reserves climbed 21 percent

Giving speech at the 30th anniversary ceremony for the National Bank of Cambodia (NBC), which was reestablished after the topple of Khmer Rouge regime, the Prime Minister Hun said that despite Cambodia suffered from the global financial crisis, Cambodia’s foreign exchange reserves is up to US$2.522 billion by the end of August of this year. … Continue reading

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 … Continue reading

Maybank opened 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 … Continue reading

Central bank to sell dollars to make riel value stable

With the slowdown of global financial crisis affecting the dropping value of Cambodian’s national currency, the National Bank of Cambodia (NBC) spent US$6 million to the market to keep the value of the riel stable and wanted to retain riel value at about 4,000 riel to every dollar. The National Bank of Cambodia is the … Continue reading