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Leasing Industry registers 63 percent surge in 2019

Sok Chan / Khmer Times Share:
Loans are popular for three-wheel transport. KT/Pann Rachana

The Central Bank has reported that the total value in the leasing industry was recorded at  1,169 billion KHR ($287million), an increase of about  63 percent in 2019 compared with the year before.

The leasing sector has contributed to other main sectors such as group of family 28.5 percent, services 17.9 percent, transport 14.2 percent, construction 6.9 percent, agriculture 9.3 percent, commerce 6.1 percent, and others at 17.1 percent.

The total assets in the leasing sector was estimated at 1,359billion KHR ($333,5million), compared with 951,6billion KHR in 2019. The total value in the leasing industry was 1,169 billion KHR ($287million), an increase of about 63percent from 713,8 billion KHR. However, the NPL in this sector dropped by more than five percent  from 8.4 percent to 3.3 percent. The number of customers in the leasing industry increased from 72,921 in 2018 to 92,289 in 2019.

For over a decade, the leasing sector has been considered as part of the banking system in Cambodia. This sector has expanded in scope of operation constantly. This is through the increase of the living standard of the people and trust among the public on the leasing sector.

This sector has provided the services on movable asset such as motorbike, car, machinery in the agriculture sector, machinery in the construction sector, electronic, furniture, and other movable assets which are in need of the financing.

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