Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - New Briefs: Royal Cambodian Bank Open for Business

New Briefs: Royal Cambodian Bank Open for Business

New Briefs: Royal Cambodian Bank Open for Business

A branch of the Royal Group Company opened the Royal Cambodia Bank-a local private

banking institution with an initial capital investment of U.S. $10 million-on Dec.

27.

"The Royal Cambodia Bank is the only beautiful and strong bank in Cambodia,"

said the Advisory Board Chairman Sophan Kith, a Cambodian Australian, speaking not

only of the services to be offered by the bank but the lush offices of the facility

as well.

The bank's charter says that one of its policies is to encourage people to save money

by making deposits in interest-bearing savings accounts.

Apart from deposits and foreign exchange services in riel, U.S. dollars and Thai

baht, the bank will provide credit and lending services, remittance and import-export

services to customers.

The chairman, however, said that deposit services brought little profit. "It

seems we are planting a tree and waiting for it to yield fruit. We start from investment,"

Sophan said.

Royal Cambodia Bank is located at 94 Tousamuth Blvd., Phnom Penh.

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