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

  • WHO: Covid in Cambodia goes into new phase

    The World Health Organisation (WHO) in Cambodia said that Cambodia has reached a new phase of the pandemic with “decreasing case numbers, high vaccination coverage and a more transmissible circulating variant threatening a hidden surge”. In a press release on September 6, the WHO said that

  • 'Pursue your goals, reach out to me': Young diplomat tapped as envoy to South Korea

    Chring Botum Rangsay was a secretary of state at the Ministry of Foreign Affairs and International Cooperation before being designated as the new Cambodian ambassador to South Korea. According to her official CV published on the foreign ministry’s website, she started her first government

  • International air visitor arrivals dip 93%

    The number of foreign tourists entering Cambodia through the Kingdom’s three international airports witnessed a sharp 92.5 per cent year-on-year decline in the first seven months of this year, according to the Ministry of Tourism. The airports handled 51,729 international tourists in the January-July period versus

  • School reopening ‘offers model for other sectors’

    World Health Organisation (WHO) representative to Cambodia Li Ailan said school reopening process should be used as a role model for reopening other sectors currently mothballed by the Covid-19 pandemic. Li strongly supports the government’s decision to reopen schools, saying it is a decision

  • Covid jab drive for 6-11 age group to begin Sept 17

    Prime Minister Hun Sen has permitted Covid-19 vaccinations for over 1.8 million children aged 6-11 across the country from September 17 in order for them to return to school after a long hiatus. Hun Sen also hinted that vaccinations for the 3-6 age group will follow in

  • Is Cambodia’s microfinance sector running its course?

    Economic growth and the strength of the banking system might have prompted a slow decline of the microfinance segment that has been raising a population ‘The MFI business model is over,” opined David Van, a Cambodian investment expert, recently. He felt that in a couple