| English.news.cn 2013-07-05 19:17:34 |
   
 
|
PHNOM PENH, July 5 (Xinhua) -- Malaysia-based Hong Leong Bank, a
subsidiary of Hong Leong Financial Group Berhad, sets to open a branch
in Cambodia next Monday, which will make it the fifth Malaysian bank and
the 34th commercial bank in Cambodia.
"Hong Leong Bank (Cambodia), which is 100 percent wholly-owned commercial bank and subsidiary of Malaysia's Hong Leong Bank, will commence operations in Cambodia from July 8," said the bank' s statement to the stock exchange, Bursa Malaysia, on Thursday.
" The bank's registered capital in Cambodia is 37.5 million U.S. dollars." "With the bank's operations in Cambodia, the Hong Leong Bank will be able to contribute to the banking sector as well as the broader economy of Cambodia,"the statement said.
Nguon Sokha, director general of the National Bank of Cambodia, on Friday confirmed the bank's presence in Cambodia, saying that the bank was granted approval in principle in January this year. "More foreign banks reflect foreign investors'confidence in the country's banking industry,"she told Xinhua over telephone. "New bank will bring new sources of capital, new hi-tech banking solutions and new employment to Cambodia."
"Through the bank, I believe that more investors from Malaysia will come to Cambodia for business opportunities," she said.
To open a commercial bank here, it is required by the National Bank of Cambodia to have the registered capital of 37.5 million U. S. dollars.
Besides Malaysian banks, a number of foreign banks, particularly from Vietnam, China, South Korea, Japan and China's Taiwan have opened branches in Cambodia in recent years.
With the population of about 14.5 million, Cambodian banking sector has been serving about 1.6 million borrowers and 1.9 million depositors, according to the National Bank of Cambodia.
The kingdom's commercial banks had lent a total of 6.1 billion U.S. dollars to customers by the end of March this year, up 5 percent from 5.79 billion U.S. dollars at the end of last year.
On the deposit side, by March this year, the banks had received a total deposit of 6.29 billion U.S. dollars, up 3 percent from 6. 09 billion U.S. dollars at the end of last year.
The country achieved a GDP growth rate of 7.3 percent last year, Prime Minister Hun Sen said early this year, projecting the annual growth of more than 7 percent in 2013 and over the medium term.
The growth came from garment exports, agriculture, tourism, real estate and construction combined with strong surge in financial sector, he said.
"Hong Leong Bank (Cambodia), which is 100 percent wholly-owned commercial bank and subsidiary of Malaysia's Hong Leong Bank, will commence operations in Cambodia from July 8," said the bank' s statement to the stock exchange, Bursa Malaysia, on Thursday.
" The bank's registered capital in Cambodia is 37.5 million U.S. dollars." "With the bank's operations in Cambodia, the Hong Leong Bank will be able to contribute to the banking sector as well as the broader economy of Cambodia,"the statement said.
Nguon Sokha, director general of the National Bank of Cambodia, on Friday confirmed the bank's presence in Cambodia, saying that the bank was granted approval in principle in January this year. "More foreign banks reflect foreign investors'confidence in the country's banking industry,"she told Xinhua over telephone. "New bank will bring new sources of capital, new hi-tech banking solutions and new employment to Cambodia."
"Through the bank, I believe that more investors from Malaysia will come to Cambodia for business opportunities," she said.
To open a commercial bank here, it is required by the National Bank of Cambodia to have the registered capital of 37.5 million U. S. dollars.
Besides Malaysian banks, a number of foreign banks, particularly from Vietnam, China, South Korea, Japan and China's Taiwan have opened branches in Cambodia in recent years.
With the population of about 14.5 million, Cambodian banking sector has been serving about 1.6 million borrowers and 1.9 million depositors, according to the National Bank of Cambodia.
The kingdom's commercial banks had lent a total of 6.1 billion U.S. dollars to customers by the end of March this year, up 5 percent from 5.79 billion U.S. dollars at the end of last year.
On the deposit side, by March this year, the banks had received a total deposit of 6.29 billion U.S. dollars, up 3 percent from 6. 09 billion U.S. dollars at the end of last year.
The country achieved a GDP growth rate of 7.3 percent last year, Prime Minister Hun Sen said early this year, projecting the annual growth of more than 7 percent in 2013 and over the medium term.
The growth came from garment exports, agriculture, tourism, real estate and construction combined with strong surge in financial sector, he said.
Editor:
Mengjie
No comments:
Post a Comment