Tokyo, July 8, 2008 (Jiji Press) - SBI Holdings Inc. <8473>, a Japanese financial services conglomerate, will open a bank in Cambodia as early as September as part of its efforts to expand operations in emerging Asian economies, sources familiar with the situation said Tuesday.
The company will join hands with a partner bank in South Korea to set up the lender in Phnom Penh, the sources told Jiji Press.
The new bank will focus on financing to foreign companies operating in Cambodia.
In Vietnam, SBI Holdings will select a partner as early as next month to offer online brokerage services targeting individual investors. The company is also considering starting a brokerage business in India.
In addition, SBI Holdings hopes to set up an Islamic bank, or a Sharia-compliant lender, to win customers in oil-rich Middle Eastern countries.
Yoshitaka Kitao, chief executive of SBI Holdings, said he hopes to open a bank with partners in Abu Dhabi and Saudi Arabia.
By Jiji Press, (c) Jiji Press
The company will join hands with a partner bank in South Korea to set up the lender in Phnom Penh, the sources told Jiji Press.
The new bank will focus on financing to foreign companies operating in Cambodia.
In Vietnam, SBI Holdings will select a partner as early as next month to offer online brokerage services targeting individual investors. The company is also considering starting a brokerage business in India.
In addition, SBI Holdings hopes to set up an Islamic bank, or a Sharia-compliant lender, to win customers in oil-rich Middle Eastern countries.
Yoshitaka Kitao, chief executive of SBI Holdings, said he hopes to open a bank with partners in Abu Dhabi and Saudi Arabia.
By Jiji Press, (c) Jiji Press
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