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 may hire Turkish power ship

    Cambodia is considering negotiating with Turkey to hire a 200MW-capacity power ship to meet electricity demands as the country faces an ongoing electrical shortage, according to the prime minister. Speaking to garment workers in Pursat province on Wednesday, Prime Minister Hun Sen said Electricite du

  • EDC tackles power shortfall

    Electrcite Du Cambodge (EDC) on Monday issued a statement updating the public on its efforts to tackle insufficient electricity supplies during the ongoing dry season. Reductions in electricity prices have resulted in a steady increase in consumers in the Kingdom, while local and international investors

  • Woman who scaled Cambodia’s three highest peaks eyes Everest

    One of the very few Cambodian women to have successfully reached the Kingdom’s three highest peaks is now eyeing Malaysia’s tallest mountain, Mount Kinabalu, and potentially even the world’s tallest straddling Nepal and China, Mount Everest. While in many Western countries it

  • Cheap, clean and efficient: The firm leading Cambodia’s solar revolution

    Sitting in her bright and airy 17th floor office, Rithya Menon, Okra Smart Solar’s lead firmware engineer, checks the frequently updating data telling her everything about how well their community services are operating. “I saw in the data that there was a problem with