Maybank opens 5th branch in Cambodia

Malayan Banking Bhd (Maybank) has opened its fifth branch in Cambodia.

Located in Chbar Amplov town, south-east of Phnom Penh City, the branch would offer commercial and wholesale banking together with selected retail banking services.

It would also offer trade finance facilities, deposit and placement products, remittance and foreign exchange service as well as housing loans.

Maybank head of international Abdul Farid Alias said the opening of the fifth branch was part of the bank's strategy to strengthen its presence in the region as well as support the expanding Cambodian economy.

"Our Cambodian operations, which began in 1993, have shown positive growth over the years arising from the rapid economic growth there.

"In the past three years, for example, loans grew by 185 per cent while deposits grew by 27 per cent," he said in a statement today.

He said the bank would continue to increase its range of facilities and services to reach even more segments of the local market as it expanded its operations in Cambodia. -- Bernama