Another Japanese bank in Cambodia
Japan’s largest bank, The Bank of Tokyo-Mitsubishi UFJ, plans to expand its business nationwide from its current sole representative office in Phnom Penh.
On Monday, Takayoshi Futae, the bank’s CEO for Asia and Oceania region, met with Chea Chanto, governor of the National Bank of Cambodia (NBC), and expressed his interest in promoting a long-term relationship with Cambodia and supporting the kingdom’s economic growth.
“The Bank of Tokyo-Mitsubishi UFJ is also very interested to attract more investors from Japan to Cambodia,” the NBC press statement quoted Mr. Futae as telling Mr. Chanto.
The Bank of Tokyo-Mitsubishi UFJ opened a representative office in Phnom Penh in 2012 and in May 2013 signed an agreement with the locally owned Canadia Bank to establish a business alliance in the country.
In February, the Tokyo-based Mizuho received an operating license from the NBC to operate nationwide. The Japanese bank has had a representative office in Cambodia since 2013. “From now on, they can offer loans and receive deposits,” Chea Serey, director-general of NBC, told Khmer Times.
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