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

  • Massive stingrays may live in Mekong’s deep pools

    US scientists have suggested that unexplored deep pools in the Mekong River in an area of Stung Treng could potentially be home to significant populations of giant freshwater stingrays, one of the world’s largest freshwater fish species. This comes as a fisherman hooked a 180

  • CCC team off on US business trip

    The Kingdom’s leading economists and private sector representatives have called on the US to renew its tax preferential status for Cambodian exports, as a Cambodia Chamber of Commerce (CCC) delegation departed for a weeklong business visit to the US, where they will meet with

  • PM takes time to meet, greet Cambodians living in the US

    After landing in the US ahead of the ASEAN-US Special Summit, Prime Minister Hun Sen was received by over 1,000 Cambodian-Americans including political analysts who welcomed him with greetings, fist bumps and selfies. Hun Sen also met with analyst Mak Hoeun, who had allegedly spoken ill

  • Khmer cinema classics back on big screen for free at WB Arena’s outdoor movies series

    On a recent Saturday evening at WB Arena, Bunsong was enjoying a tasty BBQ meal with his family after work on the long tables that had been arranged out in front of the restaurant as they watched a Khmer action movie on a big outdoor

  • PM heads to Washington for ASEAN-US special summit

    Regional and international issues and how to bring the ASEAN-US partnership to another level will be discussed at length as Prime Minister Hun Sen and his ministers arrive in Washington, DC, for a special summit on May 12-13. During the trip, Hun Sen and ASEAN

  • National Assembly refutes EU resolution

    The National Assembly (NA) has hit back at a European Parliament resolution condemning the political and human rights situation in Cambodia, calling it another display of the Parliament’s “double standards”. Key points of the resolution include a warning that the Parliament could exclude the