Cambodia Banking Industry News

[hopeoneday]

Originally Posted by SeeMacau

The big 4 banks in Cambodia : Acleda, ANZ Royal, Canadia and Vattanac owns 70% of total market shares

I think Campu Bank also is one if big banks in Cambodia too... Should have big 5

[SeeMacau]

The CEO of ANZ mentionb it in an article of Cambodia Daily few days ago, I remember Acleda, ANZ Royal, Canadia but can't remember the last one

[SeeMacau]

Yes, Acleda, ANZ Royal, Canadia, Vattanac and Campu Bank are the ''Big 5''

[hopeoneday]

Originally Posted by SeeMacau

Yes, Acleda, ANZ Royal, Canadia, Vattanac and Campu Bank are the ''Big 5''

It should be so )))

[SeeMacau]

http://www.phnompenhpost.com/index.p...nh-office.html

Bank of Tokyo opens Phnom Penh office

May Kunmakara
Monday, 20 February 2012

Japan's second-largest bank, Bank of Tokyo-Mitsubishi UFJ, officially opened a represent-ative office in Phnom Penh on Friday.

The office would serve as an information centre for potential investors and hoped to attract more Japanese companies, Masato Miyachi, general manager of the bank’s Asia and China division, said.

“We will further development in Cambodia by offering effective information geared towards the needs of our Japanese customers,” Miyachi said.

National Bank of Cambodia deputy governor Neav Chanthana said the opening of the office demonstrated Japanese investors’ rising confidence in Cambodia’s banking sector.

The bank had a Phnom Penh branch until 1967, when internal strife led to its closure.

“Now we can resume our history by opening a new representative office here,” Miyachi said.

[SeeMacau]

Prasac seeks commercial bank status

http://www.phnompenhpost.com/index.p...nk-status.html

Don Weinland and May Kunmakara
Friday, 02 March 2012

PRASAC, Cambodia’s largest microfinance institution by outstanding loans, planned to become a licensed commercial bank in the Kingdom, company officials said yesterday.

The news comes despite calls from insiders and experts – most recently the International Monetary Fund and World Bank – for the National Bank of Cambodia to stop issuing new licenses for commercial banks.

Prasac was preparing its core banking system, management and infrastructure for the transition, and targeting a launch date in 2013 or 2014, General Manager Sim Senacheert told the Post.

“We want to transform into a bank because we would be able to offer more services and products to customers,” he said, adding that Prasac had not yet applied for a license at the National Bank of Cambodia.

The MFI would not have difficulty meeting the NBC’s reserve requirement of US$37.5 million, Sim Senacheert said, as shareholders would be on hand to inject capital into the would-be bank.

The NBC now holds $3.8 million in reserve capital from Prasac.

ACLEDA Bank, the country’s largest commercial bank, transitioned from an MFI in 2001.

President and CEO In Channy said he expected Prasac’s transition to be much smoother than that of his firm’s given consumers’ growing sophistication with financial services.

“Eleven years ago, we had to spend a lot on advertisements and public awareness for our clients,” he said.

A joint IMF-World Bank report this week called on Cambodia to limit banking licenses and raise reserve requirements in order to strengthen the sector.

“The current degree of concentration and fragmentation poses risks to financial stability, while not delivering sufficient benefits from competition and innovation,” the report said.

National Bank of Cambodia director general and spokeswoman Nguon Sokha could not be reached for comment yesterday.

[SeeMacau]

Good move to stop issuing new banking licenses

[SeeMacau]

List of banks in Myanmar I created in the other thread

Foreign Banks


Bahamas
1) First Overseas Bank Ltd.
69, 003 (G/F), Yuzana Tower, West Shwegondaing Rd., Bahan Tsp.
Tel : (01) 558659, 558658, 542353, 542372


Bangladesh
1) Arab, Bangladesh Bank
9, Thukhawaddy, Gandamar Lane, Yankin Tsp.
Tel : (01) 572701

2) National Bank
26 (A), Pyay Rd., 7th Mile, Bahan Tsp.
Tel : (01) 666177


France
1) Banque Indosuez (France)
33, Pyihtaungsu Yeiktha Rd., Dagon Tsp.
Tel : (01) 222061

2) Banque National De Paris (France)
104 (B), Inya Rd., Kamayut Tsp.
Tel : (01) 532985

3) Credit Agricole Indosuez
92, Strand Rd., Kyauktada Tsp.
Tel : (01) 250499, 25094

4) Natexis Banque (BFCE)
42, Pyihtaungsu Yeiktha Rd., Dagon Tsp.
Tel : (01) 221268
E-mail : natexis@mptmail.net.mm


Germany
1) Deutsche Bank
88, Rm# 201, Int'l Business Centre, Pyay Rd., 6 1/2, Hlaing Tsp.
Tel : (01) 667762


Japan
1) Dai-Ichi Kangyo Bank
380, (7th Fl.r), FMI Centre, Bogyoke Aung San St., Pabedan Tsp.
Tel : (01) 243009, 243010

2) Mizuho Corporate Bank Ltd.
380, (7th Flr.), FMI Centre, Bogyoke Aung San St., Pabedan Tsp.
Tel : (01) 243009
E-mail : miemiedkb@mptmail.net.mm

3) Sumitomo Mitsui Bank Corporation
Rm# 717-718, Traders Hotel, 233, Sule Pagoda Rd., Pabedan Tsp.
Tel : (01) 242828

4) The Bank of Tokyo Mitsubishi
Rm# 403-404, IBC Centre, Pyay Rd., Hlaing Tsp.
Tel : (01) 664416, 664462

5) The Sumitomo Bank Ltd.
(6th Flr.), FMI Centre, Bogyoke Aung San Rd., Pabedan Tsp.
Tel : (01) 248060, 248062

6) UFJ Bank
339, Rm# 1003, Sakura Tower, Bogyoke Aung San Rd., Kyauktada Tsp.
Tel : 255407, 255055


Korea
1) Hanna Bank
88, Unit 112, IBC Compound, Pyay Rd., Hlaing Tsp.
Tel : (01) 664081

2) Korea First Bank
80, Thanlwin Rd., Bahan Tsp.
Tel : (01) 514573, 531299

3) Korea Exchange Bank
88, Unit 102-103, IBC, Pyay Rd., Hlaing Tsp.
Tel : (01) 667215, 664734


Malaysia
1) Malayan Banking Berhad
26, Thanlwin Rd., Bahan Tsp.
Tel : (01) 524950

2) MBF Bank Ltd.
9-A, Natmauk Rd., Tamwe Tsp.
Tel : (01) 543492


Netherlands
1) ING Bank
339, Rm# 1003, Level 10, Sakura Tower, Bogyoke Aung San St., Kyauktada Tsp.
Tel : (01) 255407
E-mail : pwc.myanmar@mptmail.net.mm


Singapore
1) Keppel Tatlee Bank Ltd.
Rm# (03-00), 1, Sedona Business Suites, Kaba Aye Pagoda Rd., Yankin Tsp.
Tel : (01) 544056

2) Oversea-Chinese Banking Corporation (OCBC Bank)
339, Unit 1202, (12th Flr.), Sakura Tower, Bogyoke Aung San Rd., Kyauktada Tsp.
Tel : (01) 255409


Thailand
1) Bangkok Bank Public
12, 6 (B), Myawaddy St., Myayanigon, Sanchaung Tsp.
Tel : (01) 527224

2) Krung Thai Bank Public
46, Kaba Aye Pagoda Rd., Bahan Tsp.
Tel : (01) 548861


UK
1) Standard Chartered Bank (UK)
Rm# 503, 5th Flr., FMI Centre, Bogyoke Aung San St., Pabedan Tsp.
Tel : (01) 240260, 240274, 240400
E-mail : SCBYANGON@MPTMAIL.NET.MM

[unknown123]

Dear All,

Am currently interested in how Cambodian Banks deal with fraud issues.
i heard there was a famous case concerning Angkor Capital Specialized Bank in 2009-2010
Does anyone know where i might be able to find the case?Its something to do with siphoning money if im not mistaken.

[SeeMacau]

Cambodia Public Bank Head Office

[SeeMacau]

2012/3/30

Cambodia Public Bank Tower, Canadia Tower and Vattanac Capital Tower

[mrfusion]

Originally Posted by unknown123

Dear All,

Am currently interested in how Cambodian Banks deal with fraud issues.
i heard there was a famous case concerning Angkor Capital Specialized Bank in 2009-2010
Does anyone know where i might be able to find the case?Its something to do with siphoning money if im not mistaken.

Why don't you start by telling us what you heard?

[Wisarut]

Now, Japanese banking business are opening the branch or representative offices - after Japanese investors such as Minibea have opened the factories in Cambodia => BTMU Bank (a subsidiary of Mitsubishi UFJ Financial Group) has opened the representative office in Phnompenh on 20 April 2012 - after Tokyo Mitsubishi Bank and Maruhan Japan Bank has opened the representative office in Phnompenh.


http://www.manager.co.th/IndoChina/V...=9550000050606

[SeeMacau]

The two banks you mentioned are intended to upgrade into full bank status

[mrfusion]

Cambodians shun banks

Cambodian people used banks less than any other country in the Asia-Pacific region last year in percentage terms of using financial services, recent data from the World Bank showed.

The report, released this month, also pointed to high growth in the percentage of borrowers, which insiders said was concentrated in Cambodia’s mircofinance sector.

Informal lending, a threat to the financial stability of many low-income earners, was high above the regional average.

Myanmar and Timor-Leste were excluded from the report because no data was available on the countries.

Only 4 per cent of Cambodians had an account at a formal financial institution in 2011, compared with 27 per cent in Lao PDR and 21 per cent in Vietnam.

The regional average was 55 per cent, taking into account highly banked nations.

Japanese account holders composed 96 per cent of the country’s population over the age of 15.

The number of Cambodians saving at a financial institution was 1 per cent, and the report showed no credit card usage in the country.
About 3 per cent used debit cards.

Savings accounts were set for quick growth in the near future as commercial banks increase access to services, Acleda Bank chief executive and president In Channy said yesterday.

“This number will see dramatic change over the next five years,” he said, adding that households that save could reach a 60 per cent penetration rate during that time.

Savings at Acleda was concentrated among businesspeople and civil servants. The bank had US$1.3 billion in savings deposits, In Channy said.

Debit card users would be slow to grow, he added, citing the low number of debit services available at present.

There were 1.3 million depositors, or 8.8 per cent of the Cambodian population in 2011, according to National Bank of Cambodia figures.

The data stands at odds with the World Bank numbers. The bank’s report took survey samples of the country and figure reflected respondants.

The Kingdom, however, stood behind only New Zealand and Mongolia regarding the percentage of adults who borrowed formally.

World Bank data showed 19 per cent of Cambodians taking loans from financial institution.

More than 90 per cent of people who took loans sought out microfinance institutions, which have a presence in remote areas of the country where banks do not, Sim Senacheert, general manager of Prasac Microfinance, said yesterday.

“MFIs reach out much further than banks now. They are in the rural areas of Cambodia,” he said.

MFI loans average at about $500. There were $707.95 million in loans from the country’s 29 MFIs in the first quarter of this year.

Total loans in Cambodia in 2011 were worth about $4.07 billion, according to data from the National Bank of Cambodia.

A worrisome figure in the World Bank report was the percentage of Cambodians borrowing informally from friends and family members: 39 per cent in 2011.

Informal lending often carries annual interest rates of more than 50 per cent, the Post reported earlier this year, and can result in high levels of debt for rural borrowers that seek out such means of funding.

Cambodia’s level of informal borrowing was second only to Indonesia, where 42 per cent of people took loans from somewhere other than a bank or MFI, the report showed.

The regional average was 27 per cent.

[mrfusion]

How does credit card work in Cambodia?

I have been told (and that could be wrong), that you need to put some amount ($500, maybe more) in the bank (sort of like security), so you are effectively using your own money.

And it is really obvious why the % of people that save is so little, the wage is so low, cost of living is so high, few can afford to save, most will be lucky to be clean of bad debt.

[Wisarut]

Now, I just got the latest news that Bangkok Bank PCL is going to come back to Cambodia after about 10 year hiatus by submitting the application to the National Bank of Cambodia ...

Bangkok Bank PCL will focus on the REALLY big business in ASEAN countries along with Thai investors around ASEAN - Issuing the Letters of Credits, Underwriting, Negotiation/ Discount of Export Bills, investment credit lines, revolving credits

http://www.gotomanager.com/news/printnews.aspx?id=94609

[SeeMacau]

Yes, this is the right time to come back, Bangkok Bank are pretty much in every major cities here in Asia, even in Laos

[SeeMacau]

There goes another problem, the government is currently restricted the number of banks setting up in Cambodia.

[kimmy]

Mobile phones could replace credit cards

Gregory Pellechi
July 12, 2012

MOBILE money transfer service WING is preparing to launch a mobile wallet service later this year, and ACLEDA Unity is preparing to expand its own mobile services, enabling people to quickly pay for things just by touching their phone to a point-of-sale terminal.

Near-field communications (NFC) technology will be the next addition to WING's mobile platform to be used for smaller payments, such as purchasing a cup of coffee, as the company tests the service later this year, according to WING chief operations officer Anthony Perkins.

"What we really want to tackle here is near-field communication like the Oyster Card in London or similar services offered in Japan and Australia," he said.

NFC technology, which one in five smartphones will have by next year, according to Juniper Research, will enable mobile phones to act as cashless wallets. Users will simply swipe their phone over a terminal to complete a transaction.

Sok Sophea, senior vice-president of marketing for ACLEDA Bank, said ACLEDA would be introducing additional mobile services to its Unity mobile banking facility, which is utilised by 68,000 customers. She did not say when the new features would be available, however.

"The system is updated, and only the customers need to be introduced to the new features," Sophea said.

For customers without smartphones, WING would provide a sticker embedded with an NFC chip that could be placed under an ordinary phone's case to enable WING's mobile wallet, Perkins said.

Seventy-four per cent of the population in urban and semi-urban areas of Cambodia had mobile phones, 23 per cent of which were smartphones, Laurent Notin, general manager of Indochina Research, said.

"I think there is more potential in Cambodia for mobile banking and NFC technology than for credit or debit cards as a payment tool, considering a mobile phone is now a commodity and the penetration of mobile phones is significantly higher than the penetration of credit or debit cards.

"Cambodian people are already familiar with mobile banking. NFC technology is an obvious next development for a company like WING."

Notin said Cambodia's high reliance on cash for transactions might slow propagation of the mobile wallet system.

"One of the challenges the industry will have to overcome is the high reliance Cambodians have on cash.

"There is a difference between sending money to support the family's living or for a loan, and using a mobile phone or credit card to pay for a product or service."
WING's Perkins said plastic credit cards were not working in Cambodia at all.

"Plastic just hasn't taken off. I think Cambodia will jump from cash to mobile payments," he said.

Ten per cent of WING's 400,000 customers would be classified as affluent or middle-class, in keeping with the socio-economic divide of the country, and some even kept a couple of thousand dollars on their WING account, Perkins said.

Anne Guerineau, general manager of Gloria Jean's Coffees, the first international coffee-chain franchise to enter Cambodia, said her company did not accept credit or debit cards at the moment.

"We don't do cards for the moment. But it's true we've started to get requests from guests," she said.

Guerineau said she would welcome the ability to pay through NFC technology.

"It could be good for all those younger people who get pocket money to spend from their affluent parents.

"This is our target. Gloria Jean's brought a new concept of coffee retail into the country with the self-service' style, so this would go along with
the modern way of life our guests enjoy."

Cellcard chief operations officer Kay Lot could not be reached for comment and Sok Sophea from ACLEDA had nothing to say on WING's plans.
WING was also looking to launch an online payment gateway for Cambodia early next year, Perkins said.

"It's in our IT pipeline over the next six months. Regardless of whether the market is ready, we will work on it."

The Phnom Penh Post (Cambodia)
7/12/2012