Chun Sophal
The Mekong Times
ACLEDA Bank – the largest Cambodian bank – is today opening its first branch in neighboring Laos, the first step in its bid to start business operations internationally, said ACLEDA’s Executive Director In Channy.
“We hope to benefit from the potential advantages by opening the branch because Laos has a good growth market, similar to that in Cambodia,” he said. “Laos’ economic potential for ACLEDA Bank is first-rate – not the usual. We plan to open three branches in Laos in 2008.”
The three new branches are set to cost US$10 million and employ 12 Cambodians and 80 Laotians.
Economic analysts predict ACLEDA’s expansion into Laos will help the bank lead Cambodian investment abroad.
Chan Sophal, president of the Cambodian Economic Association, called the move “a source of pride for Cambodia,” saying it indicated a healthy Cambodian banking sector. “We think that it … will build more confidence in the sector which is essential for economic development,” he said.
ACLEDA, currently holding capital of over US$50 million, is looking to open branches across the Asean bloc and in other countries in the Greater Mekong Sub-region, In Channy said.
“Now, our long-term plan is to transform ACLEDA Bank into a regional bank, not just remain as a local bank. We will continue to expand with branches in China and Vietnam,” he said.
Chan Sophal warned that Cambodian banks should not be attempting to open branches in other countries in the region other than Lao and Burma, as the other countries have stronger growth potential than in Cambodia. “ACLEDA may go to China and Vietnam, but the transaction situation may not be easy as in Laos,” he said.
“We hope to benefit from the potential advantages by opening the branch because Laos has a good growth market, similar to that in Cambodia,” he said. “Laos’ economic potential for ACLEDA Bank is first-rate – not the usual. We plan to open three branches in Laos in 2008.”
The three new branches are set to cost US$10 million and employ 12 Cambodians and 80 Laotians.
Economic analysts predict ACLEDA’s expansion into Laos will help the bank lead Cambodian investment abroad.
Chan Sophal, president of the Cambodian Economic Association, called the move “a source of pride for Cambodia,” saying it indicated a healthy Cambodian banking sector. “We think that it … will build more confidence in the sector which is essential for economic development,” he said.
ACLEDA, currently holding capital of over US$50 million, is looking to open branches across the Asean bloc and in other countries in the Greater Mekong Sub-region, In Channy said.
“Now, our long-term plan is to transform ACLEDA Bank into a regional bank, not just remain as a local bank. We will continue to expand with branches in China and Vietnam,” he said.
Chan Sophal warned that Cambodian banks should not be attempting to open branches in other countries in the region other than Lao and Burma, as the other countries have stronger growth potential than in Cambodia. “ACLEDA may go to China and Vietnam, but the transaction situation may not be easy as in Laos,” he said.
5 comments:
congratulations, acleda bank!
Yep! I like Lao people because they don't steal anything from Issan Province like the Dogs in Cambodia do.
Me too, i like Lao people. they are nice people.
Also, Khmer people should take Issan Provine back to Khmer Land. Don't be Moew! Moew! like a cat 10:40am
Yeah, but no one want to go back to the ugly apes in Cambodia.
what the fuck is this your mind is fucked lol what nationality are you?
2:58
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