British Bank Might Open Full Branch

The British financial institution Standard Chartered is considering expanding its Phnom Penh representative office into a full-fledged branch, a bank representative confirmed Thursday.

Development Organizations Man­ager Pamela Huy said a final decision would be made in another month.

“We’re still keeping a low profile,” she said.

The branch probably will open later this year, she said. Standard Chartered would be the first Western bank to open a branch in Cambodia.

An expanded presence in Phnom Penh would offer all the services of a regular bank branch, she said.

Standard Chartered opened its representative office in Phnom Penh in 1992 and has focused on institutional banking with local banks in terms of foreign ex­change, Huy said.

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