WITH the Cambodian economy set to grow the most in South East Asia, some of its largest banks and financial institutions have announced plans to expand their businesses. To support that growth, he said the bank had opened 15 branches last year while 11 were opened this year, with several of them in Phnom Penh. He said Acleda currently operated a nationwide network of 262 branches and offices to serve its customers. In the fintech [financial technology] age, it’s about the transactions from customer to customer and company to company,” he added. According to a report from the NBC, as of the second quarter of this year, there are 44 commercial banks, 15 specialised banks, 74 microfinance institutions, seven microfinance deposit-taking institutions, 254 rural credit operators, 15 leasing companies and 16 payment service providers operating in Cambodia.

Source: New Strait Times November 14, 2019 08:31 UTC