Maybank has opened its fourth branch in Cambodia.
Located at Tep Von Street, Siem Reap City, the branch will offer full banking facilities and services including deposits, mortgage financing, trade financing, deposit, remittance as well as foreign exchange services.
It also offers ATM facilities, which are linked to the Maybank ATM network in Phnom Penh, the bank said in a statement here.
Maybank Head of International, Abdul Farid Alias said the opening of the branch was part of the bank’s strategy to tap the growth potential of the region as well as support the development of the business and tourism sectors there.
“Siem Reap is one the fastest growing towns in Cambodia and has the advantage of being the gateway to the famous Angkor Wat as well as many other ancient temples,” he said.
Siem Reap province has a relatively large population of one million and Siem Reap is the second largest city in Cambodia.
An estimated 70 percent of its population, consisting both local and foreigners, live in Siem Reap City itself.
Abdul Farid said that Maybank also planned to open four more branches in Cambodia by the end of the next financial year, subject to approval from the authorities.
The Maybank Siem Reap branch further reinforces Maybank’s international network, which currently has over 400 offices in 13 countries, in addition to 384 branches in Malaysia as well as associates in Pakistan (MCB Bank) and Vietnam (An Binh Bank).
Maybank first established its presence in Cambodia in 1993, and has three other offices in the Kingdom, all located in the capital city, Phnom Penh.
Maybank Cambodia registered a 22.37 percent growth in revenue for the 11 months of the bank’s current financial year compared to the previous corresponding period.
Total loans to various sectors of the economy as at May 2009 grew 64.25 percent over the previous period.
The top three sectors it provides financial support to are telecommunications, manufacturing and general commerce.