Cambodia Bank Sector - Top 7 Cambodian National Owned Banks as of 2009

From 1999 to 2009, Cambodia was hailed as one of the world’s fastest growing national economies, second only to China in the Asian region. Due to the burgeoning economy, Cambodia drew increased interest from foreign investors including such global giants as Ford and Microsoft. However, one sector foreign investors might want to assess before doing future business in Cambodia is the health of the country’s banking sector.

Attractive Savings Rates

Whereas CD deposits in US banks may gain only 2 to 3% at the most, many banks in Cambodia currently offer CDs at 5.0% or more. For instance, the Union Commerical Bank offers 12-month fixed rate CD deposits at 5.5%.

National Bank of Cambodia Annual Report

Even so, before sending a big chunk of change over there, the wise investor might want to research the relative strength and viability of the banking organizations. If you would like to keep up to date on the health of banks in Cambodia, the country's central bank - The National Bank of Cambida(NBC) - publishes an annual report which is available to interested parties as do each of the formally recognized banks also available on the NBC website.

This hub introduces potential investors to the top seven banks owned Cambodian nationals with approved licenses to operate in Cambodia.

Acleda Bank Plc

According to data filed with the National Bank of Cambodia (NBC) at the end of 2009, Acleda Bank Plc. was Cambodia’s largest commercial bank with at least 45% national ownership. With total assets of over $922 million US dollars, Acleda Bank is 51% owned by Cambodian national investors and is the country’s second largest bank overall next to the Malaysian-owned Cambodian Public Bank. In terms of available locations, Acleda Bank ranked first by far with 232 branches as compared to 24 branches for its closest rival.

Canadia Bank Plc

As of the end of 2009, Canadia Bank Plc was Cambodia’s second largest commercial bank with at least 45% Cambodian national ownership. According to their 2009 annual report filed with Cambodia’s central bank NBC, Canadia Bank Plc. was 100% owned by Cambodian nationals and had over $763 million US dollars in total assets. Moreover, they have 24 branches spread in various places in the country including 12 in the Phnom Penh area and 12 others out in the provinces.

ANZ Royal Bank (Cambodia) Ltd

As reported in the NBC 2009 report, ANZ Royal Bank (Cambodia) was Cambodia’s third largest Cambodian national-owned commercial bank and fourth largest commercial bank overall. ANZ Royal Bank is 45% owned by Cambodian nationals and boasts just over $525 million in total assets. As of the end of 2009, ANZ Royal had 19 branch offices – 11 in the capital city Phnom Penh and eight in provincial areas.

Foreign Trade Bank of Cambodia

Cambodia’s fourth largest national-owned commercial is the Foreign Trade Bank (FTB) of Cambodia. First established in 1979, the Foreign Trade Bank of Cambodia is 100% owned by Cambodian nationals and has just over $281 million dollars in assets. FTB has only two branches both in Phnom Penh.

Vattanac Bank Ltd

According to the 2009 annual report filed with the NBC, Vattanac Bank is Cambodia’s sixth largest commercial bank overall and fifth largest bank owned by Cambodian nationals. Overall as of the end of 2009, Vattanac Bank was 100% owned by Cambodian nationals and held nearly $193 million in total assets. Moreover, this bank has three branch locations, two in Phnom Penh and one other out in the provinces.

Union Commercial Bank Plc

As of 2009, Union Commercial Bank (UCB) had four location branches including one in Phnom Penh and three other in provincial areas. At the same time, Union Commercial Bank was Cambodia’s eight largest bank overall and sixth largest with at least 45% Cambodian national ownership. According to their annual report filed with Cambodia’s central bank NBC, UCB held nearly $150 million in total assets.

Cambodia Mekong Bank Public Ltd

Cambodia’s only other bank with a significant amount of Cambodian national ownership was the Cambodia Mekong Bank Public Ltd. At the time of the 2009 annual report, Cambodia Mekong Bank held assets worth just over $44 million and had six branch locations.