Logo of Phnom Penh Post newspaper Phnom Penh Post - Chinese ambassador hails UCB

Chinese ambassador hails UCB

Chinese ambassador hails UCB

CHINA’S ambassador to Cambodia showed up at the grand opening of the Olympic Market branch of the Union Commercial Bank on November 17, lending some weight to UCB’s expansion plans and underscoring the bank’s close relationship with China.

Ambassador Pan Guang Xue made the first cut on the ribbon, followed by Deputy Governor of the National Bank of Cambodia Neav Chanthana as UCB’s Chief Executive Officer Oknha Yum Sui Sang also welcomed Jin Yuan, the economic and commercial counselor from the Embassy of the People’s Republic of China and at least 50 other dignitaries at the opening.

Yum said UCB had embarked on a programme of expanding physical presence in Phnom Penh at strategic locations “where there is real and urgent need for closer and better procession of services to our customers”.

Yum also serves as Chairman of The China Hong Kong & Macau Expatriate & Business Association in Cambodia, an association that was founded by businessmen from Hong Kong and Macau to expand their businesses – many of them garment factory owners.

At the recent opening ceremony, Yum said he hoped UCB’s Olympic branch would be the first of many such branches to open in Phnom Penh in the coming years.

“As the bank broadens its outreach to its existing and new customers and brings our brand of service to the citizens of Phnom Penh, we will continue to stress our commitment to customers and their needs,” he said.

Yum took pride in UCB’s actions during the July 1997 period of civil strife and military action – when they took the decision to keep regular banking services open even as tanks rolled around the streets.

“We will strive to continue our tradition of being always available to service the customer, just like we did during the stormy and eventful days in July 1997 when we continued to allow normal banking services including unlimited cash withdrawals because we strongly believe the needs of the customers is greater than our need for caution,” Yum said.

“Today we strongly believe this policy of fulfilling the customers’ needs first has received wide support from our customers and we hope to bring this brand of service and our commitment to a wider audience.”

Yum said UCB had recognised the changing face of Phnom Penh and its ever growing population.

“Phnom Penh is growing fast in business and commerce, and this will increase the wealth of the people,” Yum said.

The Union Commercial Bank has branches in Siem Reap, Battambang, Sihanoukville with a head office in Phnom Penh as well as the new Olympic Market branch.

UCB specialises in personal banking services including credit cards, loans and trade finance and always puts the customer first.

MOST VIEWED

  • Report: Cambodia’s internet freedom slipping

    Althought still ranked “Partly Free”, internet freedom in Cambodia is slipping, says a report by Freedom House, a US-based democracy, political freedom and human rights watchdog. But the deputy secretary of the Ministry of Justice said the report “did not reflect the truth”. The report

  • UAE prince seeks to invest in Cambodia

    The UAE has expressed interest in Cambodian oil and gas exploration. Minister of Mines and Energy Suy Sem said this was the result of his discussions with Sheikh Ahmed bin Dalmook bin Juma al-Maktoum, a member of the royal family who visited him on Wednesday.

  • Kem Sokha off the menu as Smith talks judicial independence

    The UN Human Rights Council’s (UNHRC) Special Rapporteur on Human Rights in Cambodia, Rhona Smith, on Tuesday, focused on “judicial independence” at a meeting with Ministry of Justice officials. Both Smith and ministry spokesman Chin Malin said the former opposition Cambodia National Rescue Party (

  • Smith calls for ‘release’ of Sokha as visit ends

    At a press conference to conclude her 11-day visit to Cambodia, UN Special Rapporteur for Human Rights in Cambodia Rhona Smith on Thursday called for treason charges against former opposition leader Kem Sokha to be dropped and for him to be released from “restricted detention”.