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Tag Archives: banks
US Retail Banks
Retail banks are general banking institutions that deal with individual customers and small scale industrialists. They keep their customer’ money safe and give them financial tips and guidance. These banks normally deal in home loans, savings, as well as checking accounts, credit cards, deposit funds etc. Major US Banks can be profitable or non-profitable but … Continue reading
ACLEDA stake sold ‘much higher’ than book value: CEO
JARDINES Matheson Group would have paid “much higher” than the book value for its purchase of a 12.25 percent stake in ACLEDA Bank announced Thursday, said the lender’s CEO and President In Channy. Although neither Jardines nor FMO, the Dutch development bank that sold its stake in ACLEDA, has announced the price of the sale … Continue reading
Banking on an economic crisis
EXACTLY one year after the subprime mortgage crisis first hit in the United States in July 2007, Cambodia’s central bank took measures to reduce liquidity in its undeveloped financial system by doubling reserve requirements from 8 percent to 16 percent. This move showed Phnom Penh was clearly out of sync with the world’s major financial … Continue reading
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 capital as foreign backers trim their emerging market investments, leaving microfinancers less able to serve … Continue reading
Economic meltdown
THE current economic crisis is unravelling before us faster than even the most pessimistic of experts predicted just a few months ago. The effects are already trickling down to ordinary working people. In the Asia Pacific region, the International Labour Organisation has projected that as many as 27 million more people could become unemployed this … Continue reading
Reserve requirements
ON July 11, 2008, the price of a barrel of oil hit a record US$147.55, and most natural resource and food commodities were setting new highs and increasing inflation. In Cambodia there were stories of people switching from cars and motorbikes to bicycles or even walking. As gas approached 5,700 riels ($1.36) per litre, commuting … Continue reading
