​BoC is set to expand after rapid growth | Phnom Penh Post

BoC is set to expand after rapid growth

Business

Publication date
22 April 2013 | 02:48 ICT

Reporter : Low Wei Xiang

More Topic

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.

Contact PhnomPenh Post for full article

SR Digital Media
#41 St 228, Phum 4 Sangkat Boeng Rang, Khan Doun Penh, Phnom Penh Cambodia

Tel: Celcard: 078 555 166/ 078 555 133
Smart: 086 822 999 / 086 277 999

Copyright © All rights reserved, The Phnom Penh Post