Logo of Phnom Penh Post newspaper Phnom Penh Post - Malaysian Maybank expands to outskirts

Malaysian Maybank expands to outskirts

Malaysian Maybank expands to outskirts

Malaysian-owned Maybank, one of the largest banks in Cambodia, opened its 12th national branch in Phnom Penh on Friday.

The bank aims to reach emerging businesses in the city’s Special Economic Zone (PPSEZ) with the new office.

“We intend to serve companies located in the PPSEZ that require transactional banking services,” Maybank Cambodia CEO Lee Tien Poh said.  

“We noticed a growing demand for such services, given the presence of enterprises dealing with the import of raw materials and the export of finished goods.”

Ouk Maly, deputy governor of the National Bank of Cambodia, said the new branch would also strengthen Maybank's ability to increase its income, as it would attract more savings-account customers.

“Even though the banking sector in Cambodia has developed and grown noticeably, the National Bank of Cambodia still reinforces its stability and strength,” she said.

Ouk Maly said that in May, loan demands from the national banking industry had surged by 31.78 per cent compared with May last year.

She said 1.6 million people had received bank loans, and the number of people with savings accounts had increased by 27.67 per cent to 1.9 million. Maybank’s total assets had increased by 61.34 per cent to almost $350 million.

Between now and late 2014, Maybank wants to open 10 additional branches, according to Maly.

To contact the reporter on this story: May Kunmakara at [email protected]

MOST VIEWED

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong