MB Cambodia Bank debuts as commercial lending institution
The MB Cambodia Bank, Public limited Company (MB Cambodia) officially launched its services on February 27 as a commercial bank wholly invested by Vietnam’s Military Commercial Joint Stock Bank (MB).
The opening ceremony of the MB Cambodia Bank, PLC in Phnom Penh on February 27 (Photo: VNA)
Phnom Penh (VNA) – The MB Cambodia Bank, Publiclimited Company (MB Cambodia) officially launched its services on February 27as a commercial bank wholly invested by Vietnam’s Military Commercial JointStock Bank (MB).
Addressing the ceremony in Phnom Penh, MB Vice Chairman andDirector General Luu Trung Thai said realising opportunities in the retail anddigital banking segments and with cooperation from strategic partners, MBleaders decided to transform the branch in Cambodia, founded in 2011, into acommercial bank. The move received approval from the Vietnamese Government andCambodian authorities, especially the National Bank of Cambodia.
MB Cambodia is now operating as a commercial bank with along-term vision of supplying diverse banking services for clients. Its mainproducts and services include retail banking services for individuals and corporatebanking services for organisations, he noted.
Vietnamese Ambassador Nguyen Huy Tang held that MB Cambodiahas been present in Cambodia for more than a decade, and its transformationinto a commercial bank is an important turning point marking MB’s developmentto the regional level.
He said operating in thismarket for 11 years, MB Cambodia has also contributed to local economicdevelopment, job creation, social activities, as well as the two countries’friendship and solidarity.
In his remarks, Chea Chanto, Governor of the National Bank ofCambodia, expressed his hope that with the MB Group’s digital and specialisedcapacity, MB Cambodia will compete well with other banks and financialinstitutions. It will create many new financial products to meet clients’ demand, providesafe and secured digital banking services in the growing digital world, and helpwith the development of his country’s financial and banking market.
MB Cambodia is headquartered at No 146, PreahNorodom Avenue in Tonle Basak ward of Chamkar Mon district, Phnom Penh./.
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The opening ceremony of the MB Cambodia Bank, PLC in Phnom Penh on February 27 (Photo: VNA) 
