Banking and financial services
Banking and financial services policy and regulation
Wing, GmoneyTrans ink partnership deal
A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. GmoneyTrans signed a cooperative agreement yesterday with Wing and hopes to launch the remittance service by the middle of next month, according ...
Phillip Bank launches collateral-free credit
Singapore-based Phillip Bank announced on 2 June that Cambodian borrowers that can prove a consistent monthly income will be able to access lines of credit without putting down collateral. The bank, which recently formed a lending partnership with New Union (Cambodia), a branch of a Singaporean credit ...
State, private and foreign banks to compete for SOE clients
Myanmar’s financial regulator has ended state-owned banks’ monopoly on providing foreign currency accounts for state-owned firms, opening a new market to private lenders – both local and international – that could potentially bring vast amounts of public money into the wider banking system. Keep reading ...
Myanmar licenses four more banks
Myanmar has granted operating licences to four more Asian banks, bringing to 13 the number of foreign banks allowed to conduct business in the country. Keep reading ...
A clearer picture for lenders
The double-digit growth of consumer lending in Cambodia has created a need for a comprehensive and centralised database of individual credit histories. The Post’s Cam McGrath sat down with Pascal Ly, CEO of the Credit Bureau Cambodia (CBC), to discuss the role of the Kingdom’s only ...
Interest rate race has Vietnamese businesses on edge
In anticipation of the central bank’s possible move to further limit the use of short-term deposits for loans, banks in Vietnam have rushed to attract savings with higher interest rates, starting a competitive race that might soon hurt many borrowers. Latest figures from the central bank’s ...
Vietnam's credit institutions asked to up lending to boost business
State Bank of Vietnam Governor Nguyen Van Binh on 17 February asked credit institutions to boost lending right after Tet (Lunar New Year) in a move to support businesses. Under Directive No819/NHNN-VP, the Governor asked the institutions to effectively enhance their capital mobilisation to be able to ...
Mammoth year in Cambodia's microfinance sector
Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. An annual performance sheet released on 18 February by the Cambodian Microfinance Association showed its membership – comprising ...
French bank set to enter Cambodia
French bank BRED Banque Populaire – part of the second-largest banking group in France – will start commercial operations in Cambodia later this year, marking the first foray for a European bank in the Kingdom since the late 1990s, sources in the banking sector said ...
Greater availability of loans boosting business in Laos
“I bought my mobile phone for 8 million kips (about Bt34,500) by using First Choice because that facility enabled me to make the payment over 15 months,” a customer of the brand, Somkhith Chitdavongsor, said last week. It was the first time he had made a purchase ...
