BBL opens branch in Cambodia
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Bangkok Bank today further extended its presence in Asean with the opening of a branch in Phnom Penh, Cambodia.
In its quest to become a truly Asean bank, BBL now has presence in 9 countries. Only Brunei is now absent from its Asean business plan.
The branch in Cambodia will provide a full range of financial services including deposits, business lending, trade services, foreign currency transfers and currency exchange services. It will be headed by Yiamsri Ubonpong.
Top executives of the bank, led by President Chartsiri Sophonpanich, and Bank of Thailand assistant governor Ronadol Numnonda were at the opening ceremony. Joining the ceremony was National Bank of Cambodia Governor Chea Chanto.
According to Chartsiri, customers of the new branch are expected to be businesses from Thailand and the other countries wishing to expand into Cambodia. The potential customers would also include SMEs, high-net-worth customers, employees of corporate customers of the bank, and Thais who own businesses or reside in Cambodia. Bangkok Bank also plans to offer services to its customers’ trade partners as well as local customers, provide information and advice to Thai and foreign investors planning to invest in Cambodia, and service Cambodian investors wishing to do business in other countries with Bangkok Bank branches.
“During the past 10 years Cambodia’s economy has had an average real growth rate of 7.9 per cent and is expected to grow by an average of 6.7 – 7.4 per cent over the next three years as regional trade and investment expands after the Asean Economic Community (AEC) is formed at the end of 2015," he said.
The bank's international network now comprises 30 branches in 14 countries.
