Corp News

Maybank Opens Seventh Branch in Cambodia

05 January 2010

3 min read

Maybank Cambodia has added a seventh branch to its network in Cambodia, located at Toul Kork District in Phnom Penh. The branch provides a range of financial services to the district consisting of affluent residences, government ministries, universities and commercial businesses.


Maybank opened its first branch in Cambodia in 1993 located at Kramoun Sar, Phnom Penh. Maybank Toul Kork is the sixth branch located in Phnom Penh. Its other branches in Phnom Penh are, Maybank Kramoun Sar, its main branch, Maybank Teukthla, Maybank Mao Tse Toung, Maybank Chabar Ampov and Maybank Olympic. It has also a branch in Siem Reap.


The new branch will provide retail and commercial banking services, namely deposit and placement, trade finance, remittances, foreign exchange and mortgage as well as an automated teller machine.


The opening of the branch was officiated by Kim Vada, the Deputy Director General of Supervision Department, National Bank of Cambodia. Also present were Abdul Rahim bin Hashim, First Secretary of Embassy of Malaysia, Cambodia as well as Maybank Cambodia's Country Manager Jubely Pa.


"This latest branch completes the four new branches we planned to open this year. We are pleased to be able to expand our network to provide to the growing community in the capital city including the local as well as Malaysian and Singaporean companies with operations in Cambodia," said Abdul Farid Alias, Head, International, Maybank.


"We are targeting for Maybank Toul Kork to turn around in the second year of operation. The branch will meet the banking needs of the community in the vicinity, focusing on the commercial and retail sectors," added Abdul Farid.


Abdul Farid also said that with the seven branches in Cambodia and the improving economic conditions in the country as well as the region, Maybank remains optimistic of the growth prospects of Cambodia. "We are planning to open one more branch by the end of this financial year ending 30 June 2010."


The latest branch expands Maybank's international network to over 1,750 offices located in Indonesia, Philippines, Singapore, Cambodia, Brunei, Vietnam, China, Hong Kong, Bahrain, Pakistan, Papua New Guinea and Uzbekistan as well as financial centres in New York and London.