By Brennan Stark
Thursday, 19 January 2012
The Phnom Penh Post
Two more Vietnamese banks have announced they will apply for licences to operate in Cambodia, according to media reports.
If accepted, Maritime Bank and Saigon-Hanoi Commercial Bank (SHB) would bring the number of Vietnamese banks in Cambodia to six, National Bank of Cambodia officials said yesterday.
Experts say the banks’ entry is well timed to cater to the influx of Vietnamese businesses to Cambodia.
“The many Vietnamese businesses starting up in Phnom Penh are an attraction for the banks,” Cambodian Economic Association president Chan Sophal said. “These establishments will need a bank, and will likely feel more comfortable with one from back home.”
Two more Vietnamese banks have announced they will apply for licences to operate in Cambodia, according to media reports.
If accepted, Maritime Bank and Saigon-Hanoi Commercial Bank (SHB) would bring the number of Vietnamese banks in Cambodia to six, National Bank of Cambodia officials said yesterday.
Experts say the banks’ entry is well timed to cater to the influx of Vietnamese businesses to Cambodia.
“The many Vietnamese businesses starting up in Phnom Penh are an attraction for the banks,” Cambodian Economic Association president Chan Sophal said. “These establishments will need a bank, and will likely feel more comfortable with one from back home.”
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