The Cambodia Post Bank, a new commercial bank in Cambodia, recently opened for business and allegedly will focus on providing loans between USD 300 and USD 250,000 to micro-, small and medium-sized enterprises (MSMEs) [1]. The bank will target the reported 96 percent of Cambodians that do not currently have bank accounts by setting up bank branches in or near post offices. These branches will offer basic banking services such as deposits, loans and withdrawals [2].
Cambodia Post Bank currently has 11 branches across the country and plans to open 20 more by 2018. The new bank is a USD 38 million joint investment between Canadia Bank, a commercial bank in Cambodia that owns 50 percent of Cambodia Post Bank; Fullerton Financial Holdings, a subsidiary of Singapore-based investment company Temasek Holdings that holds 45 percent stake; and the Cambodia postal service that owns five percent of the new bank. Cambodia currently has 34 licensed commercial banks and 37 microfinance institutions (MFIs).
As of July 2013, Canadia Bank had a total operating income of USD 40 million, total assets of USD 1.8 billion and total deposits of USD 1.5 billion. The number of depositors is unavailable. As of December 2010, Fullerton Financial held total assets of USD 38.7 billion.
By Megan McGowan, Research Associate
Sources and Additional Resources
[1] Phnom Penh Post: “Cambodia Post Bank Enters Crowded Sector,” September 27, 2013, http://www.phnompenhpost.com/business/cambodia-post-bank-enters-crowded-sector
[2] Channel News Asia: “Cambodia Post Bank Officially Opens for Business,” September 26, 2013, http://www.channelnewsasia.com/news/business/cambodia-post-bank/828040.html
MicroCapital.org Article, “MICROCAPITAL BRIEF: PlaNet Finance Partners with Thaneakea Phum Cambodia (TPC), China Foundation of Poverty Alleviation (CFPA) to Implement Microfinance Risk Management System,” October 1, 2013, https://www.microcapital.org/microcapital-brief-planet-finance-partners-with-thaneakea-phum-cambodia-tpc-china-foundation-of-poverty-alleviation-cfpa-to-implement-microfinance-risk-management-system/
MicroCapital.org Article, “MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) Lends $5m to Thaneakea Phum Cambodia (TPC) to Expand Housing, Microfinance Loans,”? April 1, 2013, https://www.microcapital.org/microcapital-brief-overseas-private-investment-corporation-opic-lends-5m-to-thaneakea-phum-cambodia-tpc-to-expand-housing-microfinance-loans/
MicroCapital.org Article, “MICROCAPITAL BRIEF: Microloans up 38%, Microdeposits Up 144% in Cambodia,” February 22, 2013, https://www.microcapital.org/microcapital-brief-microloans-up-38-microdeposits-up-144-in-cambodia/
Microcapital Universe Profile: Temasek Holdings, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Temasek+Holdings
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