Logo of Phnom Penh Post newspaper Phnom Penh Post - International Banking First in Phnom Penh

International Banking First in Phnom Penh

International Banking First in Phnom Penh

Banque Indosuez, the first international bank to establish a branch office in Phnom

Penh, will celebrate its official opening on Monday, Mar. 1. Georges Loubeyre, the

bank's general manager for Cambodia, said that Banque Indosuez has a long history

and strong tradition in East Asia as well as a solid presence in the Middle East

and the Indian Subcontinent.

The bank was originally incorporated in France in 1875 as Banque de l'Indochine.

The name was later changed after a merger with the Suez Companie in l956. Banque

Indosuez' parent firm, Groupe Suez, is the largest private corporate entity in France

with total assets of approximately U.S. $150 billion.

Banque Indosuez initially established an office in Phnom Penh in 1890. Operations

ceased in Cambodia in 1963 when all foreign banks were nationalized. At present the

bank maintains operations in more than 70 countries throughout the world.

The bank plans to evolve a retail-oriented operation catering to a select clientele

of individuals, institutions and corporations. It will handle personal banking and

money transfers but will not maintain savings accounts in the traditional sense.

Over the long term, depending on the performance of the local economy, the bank seeks

to develop its traditional strengths in handling sizeable accounts for local businesses,

multinational corporations and foreign business enterprises. Banque Indosuez also

sees for itself a potential advisory role with regard to rehabilitation projects.

The Cambodian office of Banque Indosuez is located at No. 70 Tousamuth Blvd., Phnom

Penh.

MOST VIEWED

  • Cambodia to waive quarantine requirements Nov 15, no PCR test required

    Prime Minister Hun Sen has decided to lift all quarantine requirements for fully vaccinated travellers and visitors – both Cambodians and foreign nationals – effective from November 15 onward. In a special message addressed to officials and relevant authorities on November 14, Hun Sen said this policy will enable

  • PM: No more quarantine for vaccinated travellers

    Cambodia is lifting all quarantine requirements for vaccinated inbound travellers entering Cambodia by air, waterway or land border checkpoints effective from November 15. Travellers will be required to take a rapid antigen test on arrival rather than waiting for the results of the lengthier polymerase chain

  • No payment required for travellers taking rapid Covid tests on arrival

    Ministry of Health officials said there would be no payment required for the rapid Covid-19 tests given to travellers who arrive in Cambodia from November 15 onwards after the quarantine requirement is lifted for fully vaccinated people. Health ministry spokeswoman Or Vandine told The Post on

  • General’s gun smuggling ring busted

    The Military Police sent six military officers to court on November 22 to face prosecution for possession of 105 illegal rifles and arms smuggling, while investigators say they are still hunting down additional accomplices. Sao Sokha, deputy commander of the Royal Cambodian Armed Forces and commander of

  • More Cambodians studying in US

    The number of Cambodian students studying at US colleges and universities in 2020-21 increased by 14.3 per cent over the previous year despite the Covid-19 pandemic, according to a recent US government report. The 2021 Open Doors report on International Educational Exchange showed that 848 Cambodian students studied

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration