A branch of the Royal Group Company opened the Royal Cambodia Bank-a local private
banking institution with an initial capital investment of U.S. $10 million-on Dec.
"The Royal Cambodia Bank is the only beautiful and strong bank in Cambodia,"
said the Advisory Board Chairman Sophan Kith, a Cambodian Australian, speaking not
only of the services to be offered by the bank but the lush offices of the facility
The bank's charter says that one of its policies is to encourage people to save money
by making deposits in interest-bearing savings accounts.
Apart from deposits and foreign exchange services in riel, U.S. dollars and Thai
baht, the bank will provide credit and lending services, remittance and import-export
services to customers.
The chairman, however, said that deposit services brought little profit. "It
seems we are planting a tree and waiting for it to yield fruit. We start from investment,"
Royal Cambodia Bank is located at 94 Tousamuth Blvd., Phnom Penh.