Banking and financial services
Banking and financial services policy and regulation
Lenders come out of the dark
More than a year into a government-backed campaign to clamp down on unlicensed lenders, nearly 130 small lenders operating under the radar have come into the fold, officials said on September 8. The Ministry of Economy and Finance and the National Bank of Cambodia launched a ...
Group Lease strengthens ties with Sri Lankan financial group
SET-listed microfinance company Group Lease plans to collaborate further with Commercial Credit & Finance, a Sri Lankan financial group, to strengthen its microfinance businesses in Indonesia and Cambodia after GL acquired a microfinance company in Myanmar from a Commercial Credit shareholder. GL on September 7 signed a ...
Asian firms increase footprint with Myanmar MFI expansion
Thai-listed firm Group Lease has brought a majority stake in BG Microfinance Myanmar, with plans to invest almost US$7 million into the business and ramp up the number of branches. Korean credit card firm Shinhan Card, meanwhile, is preparing to start its own microfinance services ...
Thai refiner Bangchak’s solar unit IPO to raise up to $170m
BCPG Pcl, the solar power unit of Thai oil refiner Bangchak Petroleum Pcl, could raise up to $170 million from an initial public offering this month, the company said on September 6. BCPG is planning to sell 590 million shares, or a 29.6 percent stake, ...
Bank of China to expand operations in Cambodia
Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said on September 6. Chen Chang Jiang, CEO of Bank of China Phnom Penh ...
Businesses urged to hedge baht in face of volatility
Business leaders have expressed concerns that the rapidly appreciating baht could dampen exports and suggest business operators hedge foreign exchange risks. The monthly meeting of the Joint Standing Committee on Commerce, Industry and Banking on September 5 heard the disquiet over the increasing volatility of foreign exchange. ...
Banks pump billions into deforestation-linked firms in Southeast Asia: study
Banks have financed companies responsible for rainforest destruction in Southeast Asia to the tune of billions of dollars, a study showed on September 6, and called on lenders to stop “fuelling forest crime”. Southeast Asia is home to some of the world’s most diverse rainforests, but ...
Increased pressure on domestic banks comes from foreign rivals
Foreign banks are increasing their presence in Vietnam through various forms by establishing 100% foreign-owned banks or opening branches. With advantages of capital and services, once the Trans-Pacific Partnership takes effect, foreign banks will have more advantages in Vietnam. Meanwhile, domestic banks that are still undergoing ...
Credit growth starts to cool off
New data released by Cambodia’s independent credit reporting agency indicate a significant slowdown in the rate of lending during the second quarter of the year, a sign that banking industry experts claim is due to a tightening of lending criteria and less seasonal demand from ...
Banks covering their assets
Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. The National Bank of Cambodia announced an incremental ...
