Major banks

Japan’s economy stagnated in the second quarter, data showed on Monday, falling below expectations and rekindling worries about the government’s faltering bid to stoke a recovery. Weak figures on August 15 come as Japanese officials face growing pressure to deliver and economists increasingly write off ...

Staff at the World Bank delivered a broadside against its sitting president this week, saying the global lender faced a “crisis of leadership” and risked irrelevance on the world stage. The rebuke, made in an open letter from the Bank’s staff association, came as informal talks ...

Cambodia, Laos, Myanmar and Vietnam have reaffirmed their commitment to strengthen their cooperation in promoting their countries as a single tourism destination. The countries’ leaders agreed on their tourism partnership during the “Four Countries, One Destination” conference held in Yangon, Myanmar, on July 31 under the ...

FPT Corporation has been selected by Myanmar Payment Union as the prime investor to implement a national financial switching system, the company said on 1 August. The entire financial switching system will be funded and implemented by FPT in a year. Currently, over 95 percent of transactions ...

For the last ten years, the State Bank of Vietnam has said it would restructure its operations. The government has instructed SBV to continue the plan on restructuring the banking system in 2016-2020. But the restructuring has not been implemented, though SBV once drew up a ...

The government Savings Bank, Krungthai Bank and the Bank for Agriculture and Agricultural Cooperatives expect 3 million to 5 million low-income earners will sign up for state welfare when registration opens from tomorrow to August 15. Those eligible are Thai citizens aged 18 years and ...

While Cambodia’s crowded banking sector has enjoyed strong growth, the majority of consumers surveyed have cited dissatisfaction with banking services as a main impediment for the sector’s confidence and future growth. “Banks need to serve the people and teach them how to spend, invest and save ...

China called for a calm response to the U.K.’s unprecedented Brexit vote, saying a “stable and united European Union was in the interest of all parties.”“The decision of leaving the EU has an impact on everything, and we believe all related parties must calm down ...

The number of banks offering advance salary loans has grown since Acleda Bank first introduced the concept in Cambodia in late 2013, though some financial institutions remain wary of offering the unsecured lines of credit. Canadia Bank began offering advance salary loans in early 2014, while ...

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 ...