Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Thai bank to open in Kingdom

Thai bank to open in Kingdom

Thai bank to open in Kingdom

Thailand's fourth-largest bank says it will establish a commercial banking branch in Cambodia next year, Thai media reported on Saturday.

Kasikornbank is still submitting its application but aims to be established by the second quarter of 2015, its president Teeranun Srihong told the Nation newspaper.

Two Thai banks, Krung Thai Bank and Siam Commercial Bank, currently operate in the Kingdom.

Along with bilateral trade, Krasinkornbank’s Cambodia branch would focus on small businesses, as they are in “an area that has not yet been focused on by other foreign and local banks”, Srihong reportedly said.

Small Cambodian businesses suffer from high interest rates due to a lack of collateral and proper documentation, said Ly Visal, office manager of Federation of the Associations for Small and Medium Enterprises of Cambodia.

“It would be good if banks moved to focus on SMEs, especially the smaller ones.”

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all