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.

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