Tag Archives: banking system

WING gets A$1.5m grant from Australia

THE Australian government gave a A$1.5 million (US$975,000) grant Wednesday to WING, a mobile payment service and a wholly owned subsidiary of the Australia and New Zealand Banking Group (ANZ), through its Enterprise Challenge Fund. This grant will help support … Continue reading

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ACLEDA posts rise in loans, deposits in Laos

ACLEDA Bank has posted healthy first-quarter figures for its operations in Laos, a bank representative said Tuesday, with the Cambodian-owned bank recording large increases in both deposits and loans, defying the financial crisis. Yin Virak, ACLEDA vice president and head … Continue reading

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From a banking boom to financial hardship

Chan Kok Choy, executive director of Vattanac Bank, speaks to the Post about the onset of the financial crisis, the general outlook for 2009 and how his bank plans to respond. Has the crisis slowed Vattanac Bank’s progress? Do you … Continue reading

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Vattanac Bank opened 3th Branch in Phnom Penh

Despite the global financial crisis, Vattanac Bank extended its operation by opening the third branch on Monday near Olymic stadium in Phnom Penh. The bank received its banking license from the National Bank of Cambodia on June 07, 2002 and … Continue reading

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Liquidity to stay tight: IMF

THE International Monetary Fund (IMF) on Friday said banking sector liquidity would remain tight for the rest of the year in a statement on the Cambodian economy following a routine visit to the Kingdom that ended Wednesday. The IMF blamed … Continue reading

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Credit crunch hits MFIs

MICROFINANCE organisations said they expect slower growth and higher interest rates as the credit crunch hits foreign lenders who had been a key source of funding to local MFIs. The main threat, sources said, stems from the decrease in available … Continue reading

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