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Maritime Group launches bank

Sum Manet / Khmer Times No Comments Share:
Ouk Maly, vice-governor of the National Bank of Cambodia. KT/Jean-Francois Perigois

Maritime Group on Thursday launched a new specialised bank during a ceremony presided over by Ouk Maly, deputy governor of the National Bank of Cambodia (NBC).

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The launch of Maritime Specialised Bank Plc. was held at Sofitel Phnom Penh Phokeethra.

Heng Sithy, Maritime Group chairman, said the opening of the new institution is in line with the government’s vision to transform Cambodia into a digital economy in the near future.

“This new specialised bank will work with the Royal Government of Cambodia for the development of the national economy by providing credit to sectors like construction, small and medium industry, and agriculture.

“Digital banking is now gaining popularity in the Kingdom. Maritime Specialised Bank will be a digital bank that will make transactions more convenient for customers, including loan applications and mobile payments,” he said.

The National Bank of Cambodia says the local banking and microfinance industry saw healthy growth in 2018, with total assets expanding by 19.4 percent year-on-year to reach about $40 billion.

According to NBC’s annual report, in commercial banks and microfinance deposit-taking institutions (MDIs) deposits rose by 15.3 percent last year, surpassing $22 billion, while loan portfolios increased by 18.8 percent, amounting to nearly $24.5 billion.

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