Asia-Pacific Development Specialised Bank Plc. Opened

The Asia-Pacific Development Specialised Bank Plc. was officially inaugurated here last Saturday under the presidency of H.E. Chea Chanto, Governor of the National Bank of Cambodia (NBC).

H.E. Chea Chanto said that the opening of Asia-Pacific Development Specialised Bank reflects the growing trust from both local and foreign milieus on Cambodia's banking sector as well as economic development.

Banking sector has significantly contributed to promoting financial architecture in order to increase business effectiveness, create job opportunities for people living in rural areas, and reduce income gap and poverty, he continued.

According to the NBC governor, by early 2016, active assets increased to US$25 billion, of which loans covered some US$15.6 billion.

Currently, Cambodia has a total of 12 specialised banks.

Source: AKP