KUALA LUMPUR (Jan 1, 2013): Maybank
has opened its 12th branch in Cambodia, at the Phnom Penh Special
Economic Zone (PPSEZ), with promise of more aggressive network expansion
in 2013, Maybank deputy president and head of global wholesale banking
Datuk Abdul Farid Alias said.
"The new branch is part of our long term commitment to expand our
reach in Cambodia and play a significant role in developing the local
financial services industry. This is in line with our mission of
humanising financial services across Asia by providing easy access to
financial services for the people.
"We intend to serve the industries located in PPSEZ which will
require transactional banking services such as trade finance and cash
management. We believe there is growing demand for such services given
the presence of enterprises which deal with the import of raw materials
and export of finished goods," he said.
The recent local incorporation of Maybank Cambodia is also expected to help accelerate its expansion in the country.
Maybank Cambodia CEO Lee Tien Poh said: "The opening of the PPSEZ
branch was timed to capture opportunities arising from the country's
City Development Strategy for the capital of Phnom Penh and its
surrounding areas identified as secondary centers. These are expected to
see increased commercial activity in the future.
"We are optimistic over Cambodia's medium to long-term prospects and
this additional branch will help facilitate economic growth in this
region."
Maybank Cambodia currently has branches in Kramoun Sar, Toeuk Thla,
Mao Tse Toung, Chbar Ampov, Olympic, Toul Kork, Stung Meanchey, Siem
Reap, Sihanoukville, Battambang and Kampong Cham.
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