Logo of Phnom Penh Post newspaper Phnom Penh Post - BoC is set to expand after rapid growth

BoC is set to expand after rapid growth

BoC is set to expand after rapid growth

Having seen rapid growth since launching in Cambodia two years ago, the Bank of China (BoC) plans to expand its business operations here.

According to a Xinhua report, BoC’s deputy governor Zhu Shuming said during his visit to Cambodia last Friday that its local operations have started to make a profit. “The bank’s progress shows that Cambodia’s banking sector still has much room to grow.”

More sub-branches in the Kingdom are also being planned, Zhu reportedly said. Its first sub-branch launched in December last year.

During his visit, Zhu met with the deputy prime minister and finance minister, Keat Chhon, as well as the governor of the National Bank of Cambodia, Chea Chanto.

Keat urged more trade sector lending from the bank so that China-Cambodia trade will be boosted to $5 billion by 2017, a target set last year.

Lending to the rice industry should also be a focus, so Cambodia can achieve its target of exporting one million tons of milled rice by 2015, he added.

The National Bank of Cambodia could not be reached for comment yesterday.

MOST VIEWED

  • ‘Historic’ Khmer Rouge tribunal Case 002/2 verdict to be delivered

    The Extraordinary Chambers in the Courts of Cambodia (ECCC) are to deliver the verdict on Friday, in the trial of former Khmer Rouge leaders Nuon Chea and Khieu Samphan, in a pronouncement hailed as a “historic event for Cambodia and the world”. The verdict from

  • ‘No more Khmer Rouge leaders left to stand trial’

    Friday's verdict in the trial of former Khmer Rouge leaders Nuon Chea and Khieu Samphan has been hailed as “historic” for “Cambodia and all humanity”, while Minister of Interior Sar Kheng said no further cases of its kind would be brought to court. “There are

  • Hun Sen slams opposition lawyer for ‘incompetence’

    A defence lawyer for the opposition on Wednesday defended their “legalism” after Prime Minister Hun Sen slammed them as “incompetent” and “unqualified”, telling them to listen to and analyse what he said before making statements about a “bet”. Once again on Wednesday Hun Sen spoke

  • Chinese driver attacked after damaging vehicles

    Villagers in Sihanoukville’s Commune 4 on Saturday attacked a Chinese man for causing an accident involving two cars and many motorcycles, while the suspect tried to escape. Preah Sihanouk provincial traffic office director Prom Pov identified the suspect as “Zhear Ming Luy”, 16. The suspect hit