CAMBODIA, PHNOM PENH, 25 January 2019 – Prince Bank Plc. celebrated its official Grand Opening at Koh Pich City Hall after the receipt of license from National Bank of Cambodia on 18 July 2018 to carry out banking operations.
The Grand Opening Ceremony was presided over by H.E. Chea Chanto, Governor of the National Bank of Cambodia. H.E. Sum Sannisith, Deputy Governor of the National Bank of Cambodia, H.E. Ou Chandara, Secretary-General of the National Bank of Cambodia, H.E. Rath Sovannorak, Director-General of Banking Supervision,the National Bank of Cambodia, Neak Oknha Pung Kheav Se, Chairman of the Association of Banks in Cambodia, Oknha Chen Zhi and Mr. Guy Chhay, shareholders of Prince Bank Plc., and approximately 500 guests were present to grace the occasion.
Prior to being a commercial bank, the institution started the business operations in 2015 as a private microfinance institution under the former name of “Prince Finance Plc”.
The bank is embarking on an ambitious business expansion plan over the next 5 years through the expansion of customer touch points as well as introduction of new products and digital solutions leveraging on the new technology. The plan will enable the bank to play a greater role in the development process in light of the continued robust growth of the economy and the financial sector.
With the favorable business environment, shareholders’ passion and commitment to long-term sustainable investment in the banking industry and the experienced and talented staff with deep local market knowledge, Prince Bank Plc. is ready to embark on an exponential business expansion drive further from 2019 onward.
The bank’s direction is to grow the business while contributing to closing the financial inclusion gaps as well as uplifting the living standards of the Cambodian citizens and businesspeople, including meeting the demand for financial services by the under-banked population and the small and medium-sized enterprises that keep growing every day in the favorable macroeconomic context. The planned business growth will contribute to the social and economic development of Cambodia and the advancement of the country’s banking system through further investment in human resource capacity building and technology in line with the continuous development of the banking system in the region and the world.