There are several local and foreign banks available in Cambodia, including National Bank of Cambodia, Cambodian Public Bank, and Bangkok Bank Public Company Limited. Read on to find out more about the banking industry in Cambodia and what services they offer to both locals and foreigners.
Cambodia’s banking industry has undergone rapid development in recent years, thanks to the country’s growing economy and investment from abroad. With over 40 commercial banks operating in Cambodia, both local and foreign, there are a variety of financial services available to consumers, such as deposits, loans, and money transfer services.
In addition to traditional banking services, many banks in Cambodia also offer online banking and mobile banking options. Owing to its growing economy and increasing integration in the global economy, Cambodia offers a promising investment opportunity for both individuals and businesses looking to expand their portfolio in Southeast Asia.
List Of Banks In Cambodia
Cambodia has a range of locally-owned and foreign-owned, joint venture banks. The list of banks in Cambodia includes National Bank of Cambodia, Cambodian Public Bank, Bangkok Bank Public Company Limited, and ACLEDA Bank PLC, among others. Foreigners can easily open a bank account in Cambodia with a valid passport, one-year extended Cambodian visa, and the required deposit amount.
Cambodia’s banking sector has progressed rapidly over the years, with an increase in the number of banks and financial institutions. The National Bank of Cambodia (NBC) is the country’s central bank, while other commercial banks provide a wide range of financial services to the public. This article presents the list of locally-owned and foreign-owned/joint venture banks in Cambodia.
Locally-owned Banks
The following banks are locally-owned and operated in Cambodia:
- Acleda Bank PLC
- Advanced Bank of Asia Limited (ABA Bank)
- Canadia Bank
- J Trust Royal Bank Cambodia Ltd
- Phillip Bank Plc
- Sathapana Bank
- First Investment Specialized Bank
- Union Commercial Bank
- Prince Bank
- Angkor Capital Specialized Bank Limited
- Foreign Trade Bank of Cambodia
Foreign-owned, Joint Venture Banks
The following banks have foreign ownership or are joint ventures with foreign partners:
| Bank Name | Country |
|---|---|
| Cambodian Public Bank | Malaysia |
| Bangkok Bank Public Limited Company, Cambodia Branch | Thailand |
| Bank for Investment and Development of Cambodia Plc | Vietnam |
| Foreign Trade Bank of Cambodia | Russia, Vietnam, and Belarus |
| Maybank Cambodia Plc | Malaysia |
| ANZ Royal Bank | Australia/New Zealand |
| HwangDBS Commercial Bank Plc | South Korea |
| Kookmin Bank Cambodia Plc | South Korea |
| United Commercial Bank (UCB) | Bangladesh |
| Credit Agricole Corporate and Investment Bank | France |
| Bank of China (BOC) | China |
Opening a bank account in Cambodia is relatively easy for both locals and expatriates. So, whether you are a resident or a visitor, you can choose from the numerous banks operating in the country for any of your financial transactions.
National Banks In Cambodia
Cambodia has a number of national banks including Acleda Bank PLC, Bank of India, Bank of China Ltd, Bank for Investment & Development of Cambodia PLC, and more. Foreign-owned banks also operate in the country such as Bangkok Bank Public Company Limited, Cambodia Branch and Cambodian Public Bank.
Overview Of National Banks
National Banks are integral to any country’s economy, and Cambodia is no different. The National Bank of Cambodia (NBC) is the central bank, which holds the responsibility of regulating the monetary policy and directing the country’s financial sector. There are a handful of national banks in Cambodia, which are all regulated by the NBC. These national banks are responsible for providing banking services to the general public, businesses, and government institutions.
National Bank Of Cambodia Branches
The National Bank of Cambodia has an extensive branch network across the country. The NBC has a total of 38 branches throughout Cambodia, with its headquarters in Phnom Penh. The branches are located in all provinces of Cambodia, making it accessible to every Cambodian citizen. The NBC has a vital role to play in Cambodia’s economic development, and its branches provide many essential services to the people. Some of these services include foreign exchange transactions, supervising, and regulating the banking industry, as well as managing foreign reserves and the overall monetary policy of the country.
National banks in Cambodia play a crucial role in bankrolling the country’s economic growth. They provide various banking services, including loans, checking and savings accounts, ATM services, and other services like insurance, foreign exchange, and remittances. In conclusion, the National Banks in Cambodia, including the National Bank of Cambodia, play a vital role in the country’s economic development. The banking industry has witnessed steady growth and expansion in recent years, and the government is making efforts to further improve the sector to attract more foreign investments.
Foreign Banks In Cambodia
Cambodia is home to a range of foreign-owned banks, including the Bangkok Bank Public Company Limited, Cambodia Branch, Cambodian Public Bank, and National Bank of Cambodia, among others. Acleda Bank, Advanced Bank of Asia, and Bank of China are some of the locally-owned banks in Cambodia.
Foreign Banks in Cambodia Cambodia has a rapidly growing economy, and with that growth, a number of foreign banks have also entered the market. The banking sector in Cambodia has grown significantly in recent years, driven by increasing economic activities and a growing demand for banking services. In this article, we will provide an overview of foreign banks in Cambodia along with their brief history, services, and presence in the country.
Overview Of Foreign Banks
Foreign banks have played an important role in the development of the Cambodian economy, providing a range of financing options for businesses in the country, as well as offering personal banking services. These banks have introduced new technologies and best practices that have helped to modernize Cambodia’s banking industry and bring it up to international standards. Foreign banks in Cambodia are regulated by the National Bank of Cambodia (NBC). The country has over 37 banks, out of which 11 are foreign banks.
List Of Foreign Banks In Cambodia
Here’s a list of foreign banks operating in Cambodia:
- ANZ Royal Bank
- Bangkok Bank Public Company Limited, Cambodia Branch
- Bank of China Ltd
- Cambodian Public Bank
- CIMB Bank PLC
- Habib Bank Limited
- ING Indochina Bank Ltd
- Maybank
- Mizuho Bank Ltd
- United Overseas Bank Limited (UOB)
These foreign banks offer a range of services including personal banking, corporate banking, trade finance, and project financing. Most foreign banks have a strong presence in Cambodia’s capital city, Phnom Penh, but some also have branches in other major cities like Siem Reap and Sihanoukville. They have introduced new technologies and practices in Cambodia, helping to modernize the banking industry in the country. Foreign banks have played a significant role in the development of Cambodia’s banking industry, and their contribution to the country’s economic growth cannot be overstated. They have introduced international best practices and standards and have helped to boost the confidence of foreign investors and businesses in Cambodia. By bringing in new technologies and practices, the foreign banks have also helped to simplify banking services and make them more accessible to the people of Cambodia.
Banking Industry In Cambodia
Cambodia’s banking industry is thriving with its list of banks including Acleda Bank, Advanced Bank of Asia, Agribank Cambodia Branch, and many more. Major banks in Cambodia are locally as well as foreign-owned, and several foreign companies have joint ventures with Cambodian-owned banks.
Overview Of Cambodia’s Banking Industry
Cambodia’s economy has grown rapidly in recent years, and this has had a positive impact on the country’s banking industry. According to the National Bank of Cambodia, there are currently more than 40 banks operating in the country, including both foreign-owned and domestically-owned banks. The banking sector in Cambodia has been expanding rapidly over the last few decades, offering a broad range of products and services to both individuals and businesses. In this post, we’re going to take a closer look at Cambodia’s banking industry, including banking regulations, challenges facing the industry, and a list of the banks currently operating in Cambodia.
Banking Regulations In Cambodia
Like most countries, Cambodia has a set of regulations governing its banking industry. The National Bank of Cambodia is the country’s central bank, and it is responsible for regulating and supervising the banking sector. The National Bank of Cambodia was established in 1954, and its primary responsibilities are to ensure financial stability and promote sustainable economic growth. It does this by regulating banks and other financial institutions, setting monetary policy, and promoting financial inclusion. In addition to the National Bank of Cambodia, there are also other government agencies that play a role in regulating the banking industry, such as the Ministry of Economy and Finance.
Challenges In The Cambodian Banking Industry
Despite the overall growth and success of the banking industry in Cambodia, there are still some challenges facing banks operating in the country. One of the main challenges is the high level of competition in the market, which can make it difficult for newer and smaller banks to establish themselves. Additionally, there are concerns about the transparency of some banks, as well as issues related to money laundering and terrorism financing. The National Bank of Cambodia has taken steps to address these issues, including implementing more strict know-your-customer (KYC) requirements and working to improve overall regulation and oversight of the industry. Here is a list of some of the banks that are currently operating in Cambodia:
- Acleda Bank PLC
- Advanced Bank of Asia Limited (ABA Bank)
- Agribank Cambodia Branch
- J Trust Royal Bank Cambodia Ltd
- Bangkok Bank Public Company Limited, Cambodia Branch
- Bank for Investment & Development of Cambodia PLC
- Bank of China Ltd
- Bank of India
- Booyoung Khmer Bank
- Branch of Mizuho Bank Ltd
- Cambodian Public Bank
- Canadia Bank
- Cathay United Bank, Phnom Penh Branch
- CIMB Bank PLC
It’s important to note that this list is not exhaustive and may change over time as banks enter or exit the market. Despite the challenges facing the industry, the banking sector in Cambodia is poised for continued growth in the coming years as the country’s economy continues to develop and more people gain access to financial services.
Conclusion
To conclude, Cambodia offers a range of local and foreign-owned banks that visitors can conveniently access, making transactions easier and hassle-free. From personal savings accounts to corporate banking services, these banks provide various financial solutions that cater to different needs.
Expats are also welcome to open an account with only a valid passport and the necessary deposit, which implies the ease and convenience of banking in the country. So, whether you’re a local or a foreigner, Cambodia has got you covered when it comes to banking.