Bank of China increases business operations in Cambodia

The Bank of China Phnom Penh Branch opened its second sub-branch in Phnom Penh, the capital of Cambodia, on Wednesday after its presence in the country for more than three years.

At the event, Li Zhigong, political councilor of the Chinese Embassy to Cambodia, said, "The opening of the sub-branch truly reflects the confidence of Chinese investors in Cambodia's banking, economic and political stabilities."

He added, "More investment from China will contribute further to enhancing Sino-Cambodian ties."

Ouk Maly, deputy governor of the National Bank of Cambodia, said the new sub-branch clearly showed the bank's commitment to expand its operations in Cambodia.

She said, "The 2nd sub-branch is the bank's new achievement this year and will contribute to developing Cambodian banking sector and economy."

Chen Changjiang, chief executive officer of the Bank of China Phnom Penh Branch, said the bank ranked the 9th largest bank out of the kingdom's 35 commercial banks in term of current asset.

He added that the bank provided all types of banking services, including lending, deposit, remittance, Internet banking, telephone banking, automated teller machines (ATMs), and payment settlement in Chinese Yuan.

Bank of China is a state-owned public listed bank in China and is a leading commercial bank in the world. It officially opened its branch in Cambodia in May 2011.