KUALA LUMPUR, Jan 4 (Bernama) -- Malayan Banking Bhd (Maybank) plans to open one more branch in Cambodia by end of its current financial year ending June 30, 2010.
Its head of international, Abdul Farid Alias, said the bank recently added the seventh branch to its network in Cambodia, located at the Toul Kork District in Phnom Penh.
"This latest branch completes the four new branches we had planned to open this year," Abdul Farid said in a statement Monday.
"We are pleased to be able to expand our network to provide to the growing community in the capital city, including the local as well as Malaysian and Singaporean companies with operations in Cambodia," he said.
"We are targeting for Maybank Toul Kork to turn around in the second year of operation. The branch will meet the banking needs of the community in the vicinity, focusing on the commercial and retail sectors," Abdul Farid said.
He said with the seven branches and improving economic conditions in Cambodia as well as in the region, Maybank remained optimistic of the country's growth prospects.
The new branch provides retail and commercial banking services, including deposit and placement, trade finance, remittances, foreign exchange and mortgage.
It offers a range of financial services to the district consisting of affluent residences, government ministries, universities and commercial businesses.
Maybank opened its first branch in Cambodia in 1993 located at Kramoun Sar Phnom Penh and Maybank Toul Kork is the sixth branch located in Phnom Penh.
Its other branches in Phnom Penh are Maybank Kramoun Sar, its main branch, Maybank Teukthla, Maybank Mao Tse Toung, Maybank Chabar Ampov and Maybank Olympic. The bank also has a branch in Siem Reap.
The latest branch expands Maybank's international network to over 1,750 offices located in Indonesia, the Philippines, Singapore, Cambodia, Brunei, Vietnam, China, Hong Kong, Bahrain, Pakistan, Papua New Guinea and Uzbekistan, and financial centres in New York and London.
Its head of international, Abdul Farid Alias, said the bank recently added the seventh branch to its network in Cambodia, located at the Toul Kork District in Phnom Penh.
"This latest branch completes the four new branches we had planned to open this year," Abdul Farid said in a statement Monday.
"We are pleased to be able to expand our network to provide to the growing community in the capital city, including the local as well as Malaysian and Singaporean companies with operations in Cambodia," he said.
"We are targeting for Maybank Toul Kork to turn around in the second year of operation. The branch will meet the banking needs of the community in the vicinity, focusing on the commercial and retail sectors," Abdul Farid said.
He said with the seven branches and improving economic conditions in Cambodia as well as in the region, Maybank remained optimistic of the country's growth prospects.
The new branch provides retail and commercial banking services, including deposit and placement, trade finance, remittances, foreign exchange and mortgage.
It offers a range of financial services to the district consisting of affluent residences, government ministries, universities and commercial businesses.
Maybank opened its first branch in Cambodia in 1993 located at Kramoun Sar Phnom Penh and Maybank Toul Kork is the sixth branch located in Phnom Penh.
Its other branches in Phnom Penh are Maybank Kramoun Sar, its main branch, Maybank Teukthla, Maybank Mao Tse Toung, Maybank Chabar Ampov and Maybank Olympic. The bank also has a branch in Siem Reap.
The latest branch expands Maybank's international network to over 1,750 offices located in Indonesia, the Philippines, Singapore, Cambodia, Brunei, Vietnam, China, Hong Kong, Bahrain, Pakistan, Papua New Guinea and Uzbekistan, and financial centres in New York and London.
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