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.
