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

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Courts’ decisions now published as reference source

    The Ministry of Justice has published 44 verdicts from civil litigation cases which can be used as models for court precedents and for study by the public and those who work in pertinent fields. Publication of the verdicts on December 31 came as the result of joint

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Quarantine site in north Phnom Penh inaugurated

    A four-building quarantine centre in Phnom Penh’s Prek Pnov district was formally inaugurated on January 6. The centre can house up to 500 people, according to Phnom Penh municipal governor Khuong Sreng. At the inauguration ceremony, Sreng said the municipal hall had cooperated with the Ministry

  • China firm to develop Mondulkiri airport

    Tourism to the Kingdom’s northeast corridor could experience a remarkable metamorphosis after the government decided in principle of a Chinese company to study and develop a proposal to build a regional-level airport in Mondulkiri province, according to industry insiders. The Council of Ministers said