Maybank Cambodia opens new branch

PETALING JAYA: Malayan Banking Bhd (Maybank) has opened its 17th branch in Cambodia at Ta Khmao, Kandal Province as part of its plans to open five additional branches in the country this year.
Maybank (Cambodia) Plc CEO and director Lee Tien Poh said keen investors' interest in provincial areas like Ta Khmao has resulted in increasing consumer and commercial activities, signifying a timely opportunity for Maybank to launch its financial and banking capabilities there.
"We are expanding to the area of Ta Khmao to allow for greater banking accessibility to the community in the area," he said, adding that it was part of the banks long term commitment to support the economic development of the country, particularly to Phnom Penh and its surrounding areas.
"Our presence in Ta Khmao will provide opportunities to people in Ta Khmao and its surrounding to enjoy easy access as well as convenient and safe banking services," he said in a statement yesterday.
The new branch will deliver a full range of over-the-counter transactions including deposits and placements, trade finance, loans, remittances, mortgages and global ATM.
Lee said the opening of four branches last year has further spurred the deposits growth of Maybank in Cambodia, which saw a growth of 40% year-on-year, reflecting the confidence of depositors in Maybank.
Maybank Cambodia currently has 16 branches located in Kramoun Sar, Toeuk Thla, Mao Tse Toung, Chbar Ampov, Olympic, Toul Kork, Stung Meanchey, PPSEZ, Chroy Changvar, Obek Kaorm, Kampuchea Krom, Siem Reap, Sihanoukville, Battambang, Kampong Cham and Serey Sophorn.
Maybank, Southeast Asia's fourth largest bank by assets, commenced operations in Cambodia as the preferred financier for Malaysians and Singapore-owned corporations investing in Cambodia's infrastructure development and service sectors.
It has since expanded its customer base to focus on local Cambodian businesses by providing the full range of banking services.