M’sian banks can gain from Cambodian growth

• Feb 10, 2017

PETALING JAYA: Malaysian banks are poised to benefit from the fast-growing Cambodian economy, says TA Research.

The research house noted that the government had been very supportive in developing the financial system there.

“At present, the country does not impose a limit on foreign shareholding in domestic banks.

That said, there are currently 36 commercial banks, 12 specialised banks, eight rep offices, 58 microfinance institutions and 21 National Bank of Cambodia provincial branches with combined bank assets in the industry ballooning from US$3.4bil in 2007 to US$20bil in 2015,” it said.

“As a result, the system’s loans and deposits have advanced at an eight-year compounded annual growth rate of 28% and 21%, respectively. By economic sectors, loans growth was underpinned by the property segment, wholesale trade and retail trade,” TA Research added.

Source: http://www.thestar.com.my/business/business-news/2017/02/10/msian-banks-can-gain-from-cambodian-growth/#dEtpwAKXxA1a6FDX.99