PHNOM PENH, Dec. 8 (Xinhua) -- The International Monetary Fund (IMF) predicted Thursday that Cambodia’s banking system could see up to 35 percent growth of credit this year—the highest rate since the global financial crisis in 2008.
“Credit growth at Cambodian banks is forecast at 35 percent this year—it’s at a rapid pace,” the IMF’s Chief of Mission to Cambodia Olaf Unteroberdoerster said during a press briefing. “The rate would come close to the average growth of credit that Cambodia had over the years 2002 to 2007 during the pre-crisis.”
At the same time, he hailed the National Bank of Cambodia (NBC) for having continued to upgrade its supervision and capacity to supervise the banking system and to ensure that the banking system is contributing to stable growth over the medium term.
Currently, the country has 30 commercial banks, 6 specialized banks, and 29 micro-finance institutions.
According to the NBC, as of September this year, the customer credits in the banking system grew by 32 percent to 4.04 billion U.S. dollars, whilst the customers’ deposits increased by 17 percent to 4.72 billion U.S. dollars.
So far, about 1.3 million people have borrowed money from Cambodia’s banks, while some 1.43 million people have their money deposited at the banks.
No comments:
Post a Comment