Logo of Phnom Penh Post newspaper Phnom Penh Post - Campu Bank opens 11th branch

Campu Bank opens 11th branch

Campu Bank opens 11th branch

Cambodian Public Bank, a subsidiary of Malaysia-based Public Bank Berhad, opened its 11th branch in the country on June 3 in a move the company said was in anticipation of strong national economic growth over the coming years.

Dr Teh Hong Piow, founder of Public Bank Bhd and director general of Campu Bank, as the Cambodian lender is commonly known, said the enterprise had experienced swift growth in the Kingdom and was now the country’s biggest bank in terms of paid-up capital.

According to a Campu Bank press release, paid-up capital doubled from $45 million in November 2007 to $90 million at the end of April.

Teh said Campu Bank’s loans grew by 129 percent in 2007 while deposits increased by 59 percent over the previous year.

Similar growth rates had continued in 2008, he said at the opening of the branch on Mao Tse-Tung Boulevard in Phnom Penh, adding that Campu Bank has been Cambodia’s largest lender since September last year.

Teh said that as of April 30, Campu Bank’s total loans and deposits stood at $526 million and $376 million respectively – a 45 percent and 18 percent increase from December 2007.

“Campu Bank will continue to invest in technology, train and develop human capital, and develop new products and services to better serve the banking needs of the Cambodian public,” he said.

National Bank governor Chea Chanto welcomed Campu Bank’s expansion, noting that it now accounts for a quarter of all loans and deposits in Cambodia.

Public Bank Bhd is the biggest bank in Malaysia in terms of market capitalization, with a value of nearly $13 billion. Teh is one of Malaysia’s wealthiest businessmen with a net worth of $3.5 billion, according to Forbes.

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group