Less than one month after its opening in Cambodia, $31 million has been deposited at ANZ Royal Bank outlets in Phnom Penh, ANZ management announced Thursday at the company’s official launch.
Approximately 1,300 customers have made deposits at three Phnom Penh branches since they opened Aug 17, ANZ management said. The bank’s headquarters on Kramuon Sar Boulevard officially opened on Thursday.
ANZ Royal Bank Chairman Kith Meng said that ANZ Royal plans to open branches in Siem Reap, Battambang province and Sihanoukville by the end of the year.
Bank officials said they could not disclose details on their depositors. “As bank operators we cannot disclose who our customers are,” ANZ Royal Bank CEO Dean Cleland said at press conference, adding that they likely included people who had been hiding money under their mattresses, as well as clients who switched from other banks.
A press release also emphasized a strong response from people who had never used banks before.
The bank is a joint venture of Australia and New Zealand Banking Group and Cambodia’s Royal Group, which hold 55 percent and 45 percent of the venture respectively, Kith Meng said, adding that the bank will also install off-site Automatic Teller Machines at 20 locations around Phnom Penh.
As of mid-2005, Cambodian banks held $857 million in deposits and had granted $523 million in outstanding loans, National Bank of Cambodia Governor Chea Chanto said Thursday.
