Background
The Phnom Penh Commercial Bank is one of a number of banks which have opened operations in Cambodia in the wake of several major changes in the domestic financial sector. In May 2007, Standard and Poor’s issued a historic first ever rating to a Cambodian bank. In 2008, the National Bank of Cambodia announced a change in the deposit requirements for all banks operating in Cambodia.
With growth rates of over 10% for the last three years, investors from Asian countries like Korea and Japan are increasing direct foreign investment in Cambodia. As a joint venture between two large Asian companies, the Hyundai Swiss Savings Bank of Korea, and the SBI Group of Japan the Phnom Penh Commercial Bank is part of this growing trend.
Read more about this topic: Phnom Penh Commercial Bank
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