A Change of Guard

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Tuesday 20 December 2011

Vietnam's MB Bank starts operations in Cambodia

PHNOM PENH, Dec. 20 (Xinhua) -- The Vietnam's Military Commercial Joint-Stock Bank (MB Bank) on Tuesday opened its first branch here to broaden trade and investment ties between the two neighbors.

It is the fourth Vietnamese bank operating in Cambodia and brings the total number of the kingdom's commercial banks to 31. The other three Vietnamese banks here are the Bank for Investment and Development of Cambodia, Sacombank, and Agribank.

Speaking at the opening of the MB Bank-Phnom Penh, Chea Chanto, governor of the National Bank of Cambodia (NBC), said the bank's presence reflects Vietnamese investors' trust in Cambodia's economic and political stability.

"The bank's presence here is also thanks to good traditional relations between the two governments," he said. "The bank is very important to contribute to the development of Cambodia's economy."

1 comment:

Anonymous said...

Do not put your money in any Vietnam's banks operating in Cambodia. They will steal all and shut the doors.