Confidence is crucial in guaranteeing successful commercial banking operations and development, and with trust at the core of its operations, Chief Bank Cambodia CEO Dr. Soeung Morarith believes that his institution is well placed to manage.
“There will obviously be some challenges, due to the recent partial withdrawal of Everything but Arms by the EU and the current negative economic effects of the Covid- 19 global outbreak. However, as we have the right team, right formula and financial strength, we are confident of successfully overcoming these, becoming stronger and more stable.
“Additionally, we are well aware that the Royal Government has adopted an expansionary policy to mitigate the negative effects of these global issues on the Cambodian economy,” Dr. Morarith said.
Chief Bank Cambodia has seen strong growth in the Kingdom since beginning operations in December 2013 with initial capital of just $10 million, while total assets were at more than $123 million as of the end of September 15, 2020 and total staff over 140, and Dr. Morarith considers clients to be long-term partners as the financial institution continues to flourish.
“Our corporate philosophy – ‘The Chief Way’ – builds mutual trust and partnerships with our customers, which is key to shared prosperity, and the way our business is conducted sincerely and with the highest professional ethics.
“Chief Bank utilizes a business model that is localized, customized and best suited to the real needs of our clients in Cambodia. We have been actively working to further refine our existing products and introducing new products and services to meet our clients’ growing needs,” he said.
Originally established in Hong Kong in 1979, Chief Group has weathered many storms, including the 1997 Asian and 2007-8 global financial crises, and gone from strength to strength by adhering to its core beliefs of ethical practices and prudent investment.
“We have stayed the course by sticking to our vision, mission, goals and philosophy, and by serving our customers better than ever, to yield sound results. Our successes are attributed to a strong team spirit with clear vision and policies,” he stressed. Chief Bank began operations in Cambodia in December 2013 with initial capital of just $10 million, while total assets up to now are at more than $123 million, according to Dr. Morarith.
And despite predictions of a turbulent year ahead for the financial sector, he is still confident of steady growth.
“Through the concerted efforts of all staff and management, and with the very strong supports of our loyal customers and relevant regulators, especially the National Bank of Cambodia, we believe the bank is well positioned to continue performing well in 2020 and years ahead.
Chief Bank’s adherence to the highest standards in banking can be seen in its strict policy on risk management.
“Regardless of how good the collateral or how viable the credit proposal appears, we place integrity ahead of gains in long-term business strategies, and strictly adhere to corporate social responsibility,”
“We have optimized our capital base, prudently managed, operated and increased our investment. We continue our focus on risk control and risk management to ensure that Chief Bank is indisputably strong and stable in this growing industry,” he stressed. Dr. Morarith said the key to the bank’s continuing success in the Kingdom is its commitment to people and ethical investment, coupled with Chief Group’s successful model and decades of experience in major global financial hub Hong Kong.
“With our shareholders’ backgrounds in Hong Kong as comprehensive financial service providers for more than 41 years, Chief Bank inherits the fine tradition of doing business by embracing a customer-focused philosophy, with the relentless pursuit of service excellence.
“We are committed to being a good companion with our dearest customers on their journey towards goal achievement and wealth accumulation. Chief Bank is working for a better future for people in Cambodia – our valued customers, our employees and Cambodia’s banking industry, and society at large. Their success is our success,” he said. Chief Bank has four branches and all are in Phnom Penh—Boeng Kok branch, Chba Ampov branch, Olympic branch and Preah Norodom Branch, where are strategically located in order to serve our target customers such as MSME, consumers and corporate much better.
Our new branch called Preah Norodom Branch,4th Branch, is well situated at No. 32, St.41 corner St.136, Sangkat Phsar Kandal II, Khan Daun Penh, Phnom Penh, Cambodia, where is one of the commercial, busy and strategic areas. Strategic locations of our branches expect to positively push forward our bank portfolio, build up enhanced competitive environments with major bankers, increase the approachability of customers, increase high possibility to efficiently establish regular and loyalty customers, well manage existing clientele bases, enhance efficient brand awareness and extend our strengths. Also, we would consider investing on digitally cutting-edge solutions to make clients more convenient and secured.
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