Cambodian banks announce plans to expand businesses

With the Cambodian economy set to grow the most in South East Asia, some of its largest banks and financial institutions have announced plans to expand their businesses.

The National Bank of Cambodia (NBC) had projected that the nation’s economy is poised to grow by 7.1 per cent this year while the International Monetary Fund (IMF) predicted that Cambodia’s economic growth would remain strong at seven per cent this year before easing to 6.8 per cent next year.

Following a solid macroeconomic performance so far this year, Advanced Bank of Asia Limited (ABA) marketing head Igor Zimarev told The Phnom Penh Post that the bank had seen very strong growth, with the number of customers increasing 76 per cent last year and by 72 per cent between January and early this month.

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