Bank assets rose 13.6pc in 2009 on new entries

via CAAI News Media

Wednesday, 20 January 2010 15:01 Nguon Sovan

THE TOTAL assets of Cambodia’s commercial banks increased by an annualised 13.6 percent last year, according to the annual report of the National Bank of Cambodia (NBC), released Monday.

The study states that assets increased to $4.74 billion at the end of 2009, compared to $4.17 billion in 2008.

Central bank Governor Chea Chanto told the Post Tuesday that Cambodia’s banking industry had developed in both its scope and operational capacity.

In 2009, three new banks launched in the Kingdom. That move brought the total number of commercial banks in Cambodia to 27.

Tal Nay Im, NBC’s director general, added Tuesday that the new arrivals in the sector had pushed total assets up.

“When new banks come to the country, they normally bring in both current assets and fixed assets,” she said.

According to the report, the number of loans paid out last year increased by 3.2 percent to $2.42 billion from $2.34 billion in 2008. The number of borrowers recorded nationally increased by 15.7 percent to 266,299 from 230,114 in 2008.

Deposits rose by 32.7 percent to $3.28 billion from $2.47 billion in 2008, and the number of depositors rose by 38.4 percent to 968,472 from 699,987.

In Channy, president and CEO of ACLEDA, told the Post Tuesday that an increase in deposits had boosted his company’s assets. They increased by a third to $922 million last year, from only $692.8 million in 2008.

“We predict the same growth in assets at our bank this year,” he added.