Tuesday, 20 October 2009

Maybank opens sixth branch in Cambodia



Monday, October 19, 2009

(Posted by CAAI News Media)

MALAYSAN Banking Bhd today opened its sixth branch in Cambodia, with a prospect of adding two more in the country this financial year.

Located at Phnom Penh’s largest business centre dominated by the capital city’s Olympic Stadium landmark, the new branch is expected to help boost loan and deposit growth by 38 per cent and 15 per cent respectively by end of June next year, the bank said in a statement.

“This latest branch will offer a range of business and retail facilities to cater to local as well as Malaysian and Singaporean businesses with interests in the country,” said Abdul Farid Alias, Maybank Senior Executive Vice-President and Head of International.

He said deposits and total assets grew by 27 per cent each over the last three years and as the Cambodian economy gets back on a growth path, Maybank expects the Olympic branch to contribute to earnings from its second year of operations.

The branch will support four other Maybank branches located in the capital city.

Maybank Cambodia started operations in 1993 with its first branch in Kramoun Sar, Phnom Penh. Its other branches are in Teukhtla, Moa Tse Tung Boulevard, Chbar Ampov in Phnom Penh and Siem Reap. - Bernama

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