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

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • PM asks India for vaccine help

    Prime Minister Hun Sen is seeking assistance from India for the provision of Covid-19 vaccines as the country has produced its own vaccine which is scheduled to be rolled out to more than 300 million Indians this year. The request was made during his meeting with

  • Capital set to beef up security

    Phnom Penh municipal governor Khuong Sreng held the first meeting of the year with heads of armed forces in the capital to review and repair the deficiencies related to gun control, drug crimes, social order disruptions due to alcohol consumption and traffic law enforcement. Municipal