1 September 2014
The
Singapore-based Phillip Capital Group has purchased a Malaysian-owned Hwang-DBS
Commercial Bank in Cambodia for 40 million U.S. dollars and rebranded it as
Phillip Bank on Thursday.
Phillip
Bank's chairman said the Phillip Capital Group, which is an Asian financial
service provider, acquired the bank in March this year after Hwang-DBS
(Malaysia) Bhd decided to exit its business in Cambodia. The Southeast Asian
nation has the population of about 14.8 million with 35 commercial banks in
operations.
According
to the NBC, those banks are serving approximately 2 million borrowers and 3
million depositors. As of June this year, a total asset in Cambodia's whole
banking system was up to 14.5 billion U.S. dollars.
Source:
No comments:
Post a Comment