Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Campu's parent firm to focus on Kingdom

Campu's parent firm to focus on Kingdom

Campu's parent firm to focus on Kingdom

THE parent company of Campu Bank said yesterday its overseas expansion plans were focused on Cambodia and Hong Kong, after recording a 22 percent rise in global profit for the third quarter.

Malaysia-based Public Bank Group’s net profit in the third quarter reached 782.7 million ringgit (US$253 million), a marked increase on the 639 million ringgit recorded in the same period of last year, according to a stock exchange filing yesterday.

Its nine-month profit to September 30 totalled 2.2 billion ringgit (US$710.1 million), 20 percent up from 1.84 billion ringgit a year ago.

The bank attributed improved performance mainly to a 13.7 percent annualised growth in its loan book “in tandem with the improved economic conditions in the country”, the chairman Tan Sri Dr Teh Hong Piow said in a statement.

Loans for the last nine months were 151.73 million ringgit, already eclipsing the 2009 total of 137.6 million ringgit, of which Campu Bank’s contribution was 1.73 million ringgit.

A previous corresponding figure was not provided, but its 12-month total last year was 2.08 million ringgit.

The chairman said that “expansion plans in overseas operations remains focused on Hong Kong and Cambodian operations”, after noting a 14 percent increase in earnings contribution from its offshore businesses. Public Bank also has operations in China, Vietnam, Laos and Sri Lanka. It is set to open its 21st Campu Bank branch by the end of the year, Teh said, while adding two more Hong Kong branches in addition to the 81 now open.

Campu Bank chief Phan Ying Tong declined to comment yesterday, stating that he was not authorised to talk to media.

Last month, the bank cut its loan rate to 6 percent for new customers, sparking concerns of a pricing war among lenders in the Kingdom.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which