Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom’s banks see rising foreign influx

Kingdom’s banks see rising foreign influx

Kingdom’s banks see rising foreign influx

Cambodia’s banking sector saw an almost 32 percent increase in foreign capital inflow in 2017, a result of new foreign banks and stricter capital requirements set by the National Bank of Cambodia, according to the central bank’s annual report.

The nonbanking sector saw a more modest 0.8 percent increase in foreign capital inflow last year, with the real estate and garment sectors experiencing a slight decrease compared to 2016. “Inflows of foreign capital into the Kingdom’s banking sector increased 31.8 percent, thanks to the establishment of the two new banks: [France’s] BRED Bank and [Japan’s] Mizuho Bank,” the report said.

It also noted that the national bank’s March decision to raise the minimum capital requirements for commercial and subsidiaries of foreign banks operating in Cambodia to $75 million contributed to the growth. According to the report, most of the foreign capital inflow came from Asian countries such as China, Vietnam, South Korea, Malaysia, and Singapore.

MOST VIEWED

  • ‘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

  • 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 accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • 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

  • PM asks India for vaccine help

    Prime Minister Hun Sen is seeking assistance from India for the provision of Covid-19 vaccines as the country has produced its own vaccine which is scheduled to be rolled out to more than 300 million Indians this year. The request was made during his meeting with

  • Capital set to beef up security

    Phnom Penh municipal governor Khuong Sreng held the first meeting of the year with heads of armed forces in the capital to review and repair the deficiencies related to gun control, drug crimes, social order disruptions due to alcohol consumption and traffic law enforcement. Municipal