At Launch, ANZ Counts 1,300 Clients, $31 Million

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.


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