National Bank of Cambodia halts operations of Panda Commercial Bank due to financial troubles
The National Bank of Cambodia suspends Panda Commercial Bank's operations after deteriorating financial conditions. Customers advised on withdrawals, and a provisional liquidator has been appointed.
Xinhua reports the closure as the bank’s financial situation worsens
Xinhua News reported on Monday that the National Bank of Cambodia (NBC) has officially suspended the operations of Panda Commercial Bank due to its "worsening financial situation."
According to official statements from the NBC, the decision was made after an extensive prudential supervision assessment, which revealed that Panda Commercial Bank's financial condition had deteriorated to a level where it could no longer provide essential banking services.
Key Details of the Suspension
Reason for Suspension: The NBC found that the bank's financial stability had significantly worsened, leading to its inability to conduct regular banking operations.
Action Taken: Morisonkak MKA Audit-Accounting Co., Ltd. has been appointed as the provisional administrator and liquidator to manage all the bank's operations and assets during the shutdown process.
Restrictions: As of the suspension, Panda Commercial Bank is prohibited from:
- Accepting new deposits
- Granting new loans
- Providing any additional banking services
Current Status for Customers
- Depositors: Customers have been advised to prepare the required documentation to withdraw their funds. A 30-day window has been given for creditors and depositors to file claims for compensation, beginning from the suspension date.
- Borrowers: The NBC has urged borrowers to continue meeting their loan obligations and making payments as usual despite the bank’s closure.
Background on Panda Commercial Bank
Panda Commercial Bank, which was granted its license in 2019, had its assets valued at approximately $776 million by the end of 2025. However, the bank accounted for only 0.77% of Cambodia’s total banking sector. This marks the second major bank closure in Cambodia in 2026, following the earlier closure of Prince Bank Plc in January.
