February 1, 2023

Banks and MFIs’ Loans to Private Sector Reach US$53 Billion as of Second Quarter

The outstanding loans to private sector by banks and microfinance institutions rose by 23.6 percent to KHR 216 trillion (approximately US$53.1 billion) as of the end of second quarter of 2022, the National Bank of Cambodia (NBC)’s report showed.
Construction sector, including real estate and mortgages, and owner-occupied housing shared 27 percent of the outstanding loans at KHR58.4 trillion, up 30 percent year-on-year, stated the report issued recently.
Other sectors are wholesale and retail trade (KHR53.5 trillion, up 25.6 percent), services (KHR21.3 trillion, up 14.5 percent), agriculture (KHR20.3 trillion, up 24.6 percent), household (KHR11.7 trillion, up 12.1 percent), and manufacturing (KHR7.2 trillion, up 24.3 percent) with the remainders receiving KHR43.6 trillion, up 20.7 percent.
“Credit is a main source of funds to support economic activities and contributed to key sectors, such as construction, wholesale and retail trade, services, agriculture, household, and manufacturing,” the NBC said.
With a total population of 16 million, Cambodia currently has 58 commercial banks, nine specialised banks, and 86 microfinance institutions including five MDIs, with a total of 2,593 headquarters and branches as well as 4,219 automated teller machines (ATMs) throughout the country, according to the national bank.

Source: Agency Kampuchea Press