France’s BRED Bank Opens in Cambodia

France's BRED Bank, one of the largest loan providers in Europe, officially opened its first branch in Cambodia on Mar. 2 with US$30 million investment capital, aiming to assist small and medium-sized enterprises (SMEs) and boost imports and exports.

National Bank of Cambodia (NBC) Governor H.E. Chea Chanto said the presence of BRED Bank significantly reflected the increased confidence of foreign investors from Europe in the development of banking operations in Cambodia in the context of peace, political stability and macroeconomic stability.

"I strongly believe that BRED Bank (Cambodia) Plc. will contribute to the development of Cambodia's banking sector, promote financial inclusion, and enhance domestic investments, particularly those of SMEs," he said.

BRED Bank CEO Olivier Klein said the bank will focus on providing financing and support to SMEs.

BRED Bank is the first France's bank in Cambodia. It is a leading bank in France and has branches in the EU and Asia.

Source: Agency Kampuchea Press