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Cambodia > Finance

MFIs seek regulator’s support

24/03/2017 19:45 | 0 comments

The apex body for the nation’s microfinance industry announced yesterday that the central bank had tentatively agreed to a number of measures it had requested to ease the burden on microfinance lenders following last week’s unilateral decision to cap annual interest rates at 18 percent as of April 1.

Cambodia > Finance

Call for tighter ATM security

22/03/2017 10:21 | 0 comments

A municipal spokesman responded yesterday to local media claims that Phnom Penh’s governor was considering issuing an order to remove stand-alone ATMs from public areas across the capital, clarifying that the governor had only called for financial institutions to provide better security measures at these locations.

Cambodia > Finance

No bidders for central bank’s repo auction

22/03/2017 10:18 | 0 comments

The National Bank of Cambodia (NBC) announced yesterday that no financial institutions expressed interest in its sixth liquidity-providing collateralised operation (LPCO), marking the first time the repo auction was held without attracting any bidders.

Cambodia > Finance

Microlender in monster deal

20/03/2017 10:34 | 0 comments

Hong Kong financial giant The Bank of East Asia and Sri Lanka’s LOLC announced on Friday that they have jointly acquired a majority stake in Prasac Microfinance, Cambodia’s largest microfinance institution (MFI) by assets, in what could be the largest acquisition of a Cambodian lender to date.

Cambodia > Finance

Refinancing could bring existing loans under rate cap

17/03/2017 10:08 | 0 comments

Since the central bank issued a decree on Monday that it will cap microfinance interest rates at 18 percent next month, questions have swirled around whether the revised annual rate would also apply to existing loans, while banking experts have said there would be little they could do to stop borrowers from restructuring or refinancing their loans at the lower rate.

Cambodia > Finance

NBC to make 40B riel available to bidders

16/03/2017 21:30 | 0 comments

The National Bank of Cambodia will hold its sixth liquidity-providing collateralised operation (LPCO) on March 21 with 40 billion riel ($9.89 million) available to Cambodian financial institutions in need of liquidity, it said in a press release

Cambodia > Finance

IFC to boost corporate governance

16/03/2017 21:28 | 0 comments

The International Finance Corporation (IFC) launched a corporate governance initiative yesterday aimed at enhancing the efficiency of Cambodia’s private sector to strengthen the business climate and spur foreign investment and job creation, it said in a release.

Cambodia > Finance

ANZ Royal Bank opens branch for home loans

16/03/2017 21:27 | 0 comments

ANZ Royal Bank opened a dedicated home loan branch in the capital yesterday to serve customers looking to simplify the process of obtaining home loans, the company said in a press release.

Cambodia > Finance

Tax treaty with Thailand mooted to boost trade

14/03/2017 09:20 | 0 comments

Cambodian and Thai commerce officials met yesterday in Phnom Penh for the 6th Joint Trade Committee (JTC) meeting between the two countries, according to a government press release.

Cambodia > Finance

Thai insurance broker to foray into Cambodia

14/03/2017 09:15 | 0 comments

Thailand-based insurance broker TQM plans to expand its service into Cambodia next year as part of a regional expansion aimed at maintaining the company’s double-digit annual business growth, according to Thai media reports.

 
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