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Newly minted DGB Bank ready to roll out suite of banking services

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DGB Bank was upgraded to a fully fledged commercial bank in September. Heng Chivoan

Newly minted DGB Bank ready to roll out suite of banking services

DGB Bank is chalking up plans to introduce the whole spectrum of banking services – from retail to mobile banking – to strengthen its position in the competitive financial sector.

The South Korean specialised bank that was upgraded to a fully fledged commercial bank on September 30 will continue to grow its loan segment, which has been its core business.

Headquartered on Phnom Penh’s Kampuchea Krom Boulevard, DGB Bank launched its operations after obtaining a licence from the National Bank of Cambodia in 2010.

“Being upgraded to a commercial bank is a big step for us to expand our operations in the Cambodian financial industry.

“This new licence will allow us to provide a full range of new products to our valued customers.

“This enhancement in our range of products will facilitate our customers’ business more effectively, as well as meet their personal needs,” said DGB Bank CEO Lee Yong Man.

A wide suite of products ranging from deposits, foreign exchange and remittance services with local and international transfers, to mobile and internet banking will be offered in the coming months.

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The financial institution is gearing up to offer more services to its clients. Heng Chivoan

“Due to the nature of a specialised banking licence, we have only provided loans. Therefore, we could not have any experience in retail banking such as credit cards, savings accounts and taking deposits.

“But as we have more than 7,000 loan clients, we expect our retail banking operations can be actively engaged as soon as we are ready with our range of products,” Lee added.

The bank will ramp up efforts to deliver maximum value to its clients by reaching out through advertisements and promotions via public and social media campaigns.

In addition, DGB’s goodwill ambassador, popular singer Preap Sovath, who has been with the bank for over a decade, will also play a vital part in promoting their services.

The bank’s efforts are supported by 600 well-trained staff across its nine branches nationwide, while it offers seamless banking services through its digital platform.

Content image - Phnom Penh Post
The bank will continue to focus on developing its human capital. Heng Chivoan

“since establishment, our main market for lending has been SMEs [small and medium-sized enterprises], and this will continue.

“For deposits, the target market is mainly Cambodians, but it would naturally include Korean corporations and individuals residing in Cambodia.

“At present, DGB’s loan business is the hot-selling banking product. However, our deposit product with its competitive rates, coupled with the latest mobile application technology, will be another of our core products to be added in the near future,” he said.

Lee added that the bank will continue to focus on developing its human capital by conducting specialised training for its workforce.

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A 600-strong team of staff in nine branches support the bank’s operations across the Kingdom. Photo supplied

“We bring new and systematic methodologies for risk management, customer marketing approaches and management skills development to ensure that our staff remain well trained and competent in the areas of their primary responsibility.

“Such efforts ensure that our people will be a big plus in Cambodia’s young and still-evolving financial industry,” said Lee.

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