Sacombank Cambodia Plc is a Cambodian-registered bank and thus comes under the legal jurisdiction of the Kingdom of Cambodia in terms of capital requirements, accounting system and statutory reporting. The head office is located at 60 Norodom Avenue, Sangkat Chey Chumnas, Khan Daun Penh Ward, Daun Penh District, Phnom Penh, Cambodia. The operating license is for 99 years as a commercial bank. The chartered capital is USD 38 million.
SACOMBANK CAMBODIA PLC INFORMATION
On 23 June 2009, Sacombank became the first Vietnamese bank to open in Cambodia. In pioneering the entry into the Cambodian banking sector, Sacombank has contributed to an increase in cross-border trade between Cambodia and Vietnam. Many bank services were provided, such as, international remittance, consumer loan, business loan, guarantee, deposits, to all Cambodian enterprises and individuals as well as Vietnamese community in Cambodia and Vietnamese companies investing in Cambodia. After two operating years in Cambodia, Sacombank has transformed its Phnom Penh Branch into 100% foreign-owned bank under legal name “Sacombank Cambodia Plc”. This is a long-term commitment to the enterprises and the community in Cambodia. Until 30th September 2011, Sacombank Phnom Penh has opened 3 branches in the business suburbs including the Olympic, Vietnamese Supermarket and Chbar Ampeou.
As at 30th September 2011, Sacombank Phnom Penh has total deposit of USD 40 millions, total liabilities of USD 58 millions, profit before tax of USD 2 millions which counted at 88% of 2011’s action plan. Remittance between Cambodia and Vietnam was USD 246 millions in 2010 and raised up to USD 275 million in September 2011. The number of customers in Cambodia is counted at above 1,800 including individuals and SMEs.
By 09/2011, the Global Finance Magazine (US) has officially announced the World’s Best Foreign Exchange Providers 2011. Sacombank is honored to be a Best Foreign Exchange Provider in Vietnam 2011. The selection criterions are based on total transaction value, market share, operating network, customer services, competitive capacity and advanced technology system of the institutions in 86 nations and areas. This is the third time in a row that Sacombank has been chosen for ”The Best Foreign Exchange Provider in Vietnam Award” by the Global Finance Magazine (2009, 2010, and 2011). This award is an illustration for Sacombank’s business strategy and also an outstanding achievement of Sacombank in foreign exchange activities.