Banking System Plays Active Role in Continuing to Support Economic Recovery: NBC

The National Bank of Cambodia (NBC) said the banking system has played an active role in continuing to support the economic recovery by continuing to provide appropriate financial services to meet economic needs.

In its Macroeconomic and Banking Sector Development in 2022 and Outlook for 2023 released on Jan. 11, the NBC said that cautious regulations have been flexibly eased during the crisis to ease the burden on borrowers and sustain credit to the economy.

Lending to the private sector increased by 21 percent, which was allocated to support the recovery in key sectors of the national economy, while consumer deposits grew by 11.3 percent, the central bank added.

Moreover, regional connections are gradually being expanded with regional countries, facilitating inter-banking and financial transactions, promoting trade, investment and tourism.

Currently, Cambodia has 58 commercial banks, nine specialised banks, and 86 microfinance institutions, with a total of 2,614 headquarters and branches as well as 3,998 automated teller machines (ATMs) throughout the country.

Source: Agency Kampuchea Press