China Invests over US$30 Million in Khmer Specialized Bank in Cambodia

Chinese investor has invested more than US$30.5 million in establishing Khmer Specialized Bank PLC along Mao Tse Toung Blvd. in Phnom Penh city with an aim to provide wide credit services for Cambodian people and SMEs that need capital to expand their businesses.

In the future, the bank plans to expand its capital up to US$100 million.

The official launch of Khmer Specialized Bank PLC was held at Sofitel Phnom Penh Phokeethra Hotel last week under the presidency of Deputy Prime Minister H.E. Yim Chhay Ly.

The newly launched bank has contributed to the policy of Royal Government of Cambodia in banking and financial sector development in Cambodia, said Vice Governor of the National Bank of Cambodia H.E. Ms. Ouk Maly.

The Khmer Specialized Bank was upgraded from Angkor ACE Star Credits Limited and subsidiary to Khmer Holdings Group Co., Ltd.

Source: AKP