PHNOM Penh Commercial Bank launched its second Cambodian branch yesterday. “With two branches having been established, it positively implies the success and gradual growth of the bank,” said its President Kim Yang Jin. The branch is located on Monireth Boulevard in the capital’s Chamkarmon district.

Phnom Penh Commercial Bank is 60 percent owned by Korea’s Hyundai Swiss Financial Group and 40 percent by SBI Holdings of Japan. National Bank of Cambodia Deputy Director General Chea Serey said the domestic banking industry was improving partly through the sound supervision of the Central Bank.