Tuesday December 25, 2007
DARANA CHUDASRI
Bangkok Post
Siam Commercial Bank will link its IT and ATM networks with its Cambodian subsidiary to help support business expansion in Cambodia.
Na-Bhengbhasang Krishnamra, an SCB executive vice-president, said the bank would link its computer networks with subsidiary Cambodian Commercial Bank next year.
''Cambodian Commercial Bank has a strong brand and has posted growth averaging 15% per year. We expect to see the same growth this year,'' he said.
The bank currently has total deposits of more than $100 million, of which 90% is in US dollars and the rest split between Thai baht and euro deposits. Total assets are expected to reach $200 million by the end of 2008.
Mr Na-Bhengbhasang said the Cambodian economy was growing strongly thanks to investment from countries such as Korea, Japan, Malaysia and Thailand.
Thai companies had invested in the sugar, hotel, autos and auto parts sectors.
Cambodian Commercial Bank currently has paid-up capital of $13 million, 100% owned by Siam Commercial Bank. It employs 80 people in Phnom Penh and its branches in Siem Reap, Battambang and Sihanoukville.
SCB also has branches in Singapore, Hong Kong and Laos, as well as a 33% share in VinaSiam in Vietnam.
Na-Bhengbhasang Krishnamra, an SCB executive vice-president, said the bank would link its computer networks with subsidiary Cambodian Commercial Bank next year.
''Cambodian Commercial Bank has a strong brand and has posted growth averaging 15% per year. We expect to see the same growth this year,'' he said.
The bank currently has total deposits of more than $100 million, of which 90% is in US dollars and the rest split between Thai baht and euro deposits. Total assets are expected to reach $200 million by the end of 2008.
Mr Na-Bhengbhasang said the Cambodian economy was growing strongly thanks to investment from countries such as Korea, Japan, Malaysia and Thailand.
Thai companies had invested in the sugar, hotel, autos and auto parts sectors.
Cambodian Commercial Bank currently has paid-up capital of $13 million, 100% owned by Siam Commercial Bank. It employs 80 people in Phnom Penh and its branches in Siem Reap, Battambang and Sihanoukville.
SCB also has branches in Singapore, Hong Kong and Laos, as well as a 33% share in VinaSiam in Vietnam.
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