Banking

Foreign Trade Bank of Cambodia Eyes IPO; No Date Set

by sidet on April 20, 2012

in Businesses

The Foreign Trade Bank (FTB) of Cambodia announced plans to go public on the Cambodia Securities Exchange (CSC) as shares in the only firm yet to list—the state-owned Phnom Penh Water Supply Authority (PPWSSA)—continue to rally on the bourse’s second day.

In a memorandum of understanding signed with Tong Yang Securities , which prepare the Water Supply Authority’s initial public offering (IPO), the  FTB gives the securities firm the first right to refuse the preparation of its own IPO—whenever that is ready.

“It will be in the future, but it is not at this time,” FTB General Manager Gui Anvanith said, refusing to be pinned down on a date. [Read full article…]

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Acleda Eyes Expansion Into Burma

April 13, 2012 Economic
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Cambodia’s largest bank, Acleda, is looking to get in early on Burma’s economic reawakening, with plans to open three microfinance branches in the country as soon as January, the bank’s CEO said. In Channy said he discussed the plan on Monday with a visiting Burmese delegation headed by Nay Aye, the deputy governor of Burma’s [...]

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Campu Bank 2011 Profits up Due to Healthier Loans

February 7, 2012 Economic
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Cambodian Public Bank’s net profits last year increased 71.66 percent to $23.69 million compared with 2010, according to audited data obtained by the bank of Friday. According to the data, the bank was able to reduce the amount of non-performing loans from $21.77 million to just $9.7 million over 2011, contradicting a statement issued by [...]

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Cellcard Cash Compliant, At Last

May 25, 2011 Technology

“This issue is all over now so I’m not looking back,” Kay Lot, Mobitel’s Chief Operating Officer, said yesterday after the central bank last week finally licensed Cellcard Cash to accept remittances. But after eight months of testing the patience of the National Bank of Cambodia, the funders of the programme The Bill and Melinda [...]

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MobiTel Mobile Banking License Approved

May 24, 2011 Technology

Nine months after launching its mobile banking service Cellcard Cash, MobiTel has been granted a license by the central bank to legally run its operation, allowing customers to store money in their telephone accounts to make transactions. MobiTel, which is owned by Cambodian conglomerate The Royal Group, launched its mobile banking service in September but had [...]

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Acleda Bank Profits Back Above Precrisis Levels

February 2, 2011 Businesses

Net profit at Acleda Bank rose 189 percent to $26.63 million last year, unaudited figures released by the bank last week show. That amount is 30.76 percent above 2008’s profits before the spillover effects of the global economic crisis reached Cambodia John Brinsden, vice chairman of Acleda Bank, said the increase in profit was due [...]

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Cambodian Public Bank Sees Modest Growth in 2010

February 2, 2011 Businesses

Gross profits at Cambodia Public Bank Plc jumped by about 14 percent to $18.8 million in 2010 as the bank make a recovery after the economic financial crisis the previous year; an official in the bank said. Malaysian-listed Public Bank Group, which owns Cambodian Public Bank announced to the market in its end-of-year report that the [...]

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Central Bank Tells MobiTel To Apply for Bank License

November 19, 2010 Technology

CamGSM, which does business MobiTel, has until February to apply for a license to operate its mobile banking service know as Cellcard Cash, according to National Bank of Cambodia Director General Tal Nay Im. CamGSM launched the service in September, allowing customers to store money in their MobiTel accounts and use it for making transactions [...]

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Mobitel Gets National Bank of Cambodia Reprieve

November 16, 2010 Technology

Mobitel’s Celcard Cash programme has been give until February to fully comply with National Bank of Cambodia regulations, according to Central Bank Director General Tal Nay Im. The money transfer service—which is run by Cambodia’s largest mobile phone provider—has until early next year to apply for license and formally partner with a bank, she said. [...]

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Three Banks Raise Rural Development Bank’s Finance

November 16, 2010 Economic

According to my old post about rice export that titled as “Rice Export Goal Not Easy, Hun Sen Warns” was about the goal that the government plan to have rice to be exported up to million tons by 2015. It is now on the way to the goal as the government expected by starting giving [...]

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AMK, Amret See Profits Soar During Third Quarter

October 20, 2010 Businesses

The Kingdom’s fifth-largest micro-lender, AMK, reported yesterday that its net profit increased by 76 percent quarter on quarter. Profits at the microfinance institution in the third quarter climbed to US$567,415, up from $322,611 in the second quarter. AMK Chief Executive Officer Pete Power, said yesterday that the rise was the result of a 12 percent [...]

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