Foreign Trade Bank opens branch in Preah Sihanouk

The Foreign Trade Bank (FTB) which is the old one in the country has provided the bank service for over two decades officially opened the new branch at Autonomous Sea Port of Preah Sihanouk town with providing the confidence of the businesspeople and trade.

Tal Nay Im, director general of the National Bank of Cambodia said in opening ceremony late March that the new branch of the bank will provide the confidence for customers and business people. “New branch of the bank will gain the success for its business operation here,” she said, adding that the sea port is a part of the breath of the economic growth and development and anyway, the bank services will conduct its work directly in the administration unit of the port.

“In the future, we hope that the bank will be expanded more branches and its network to other areas for the operation process to contribute providing the more bank services to the local people who exchanged their business and keep their money for the interest,” she said, adding that FTB played a key role for international trade as its work process lasted for long time in the country.

At the same time, Gry Anvanith, director general of the FTB said that FTB bank has its long history of the business operation in the country and its operation has been started since 1980. So far, the bank has changed its legal procedures for many times and finally it changed the business with the private sectors.

In the context of the evolution of bank services, particularly, the FTB of Cambodia became the foundation of the confidence for publics, and morality, and firm capital and patience’s spirit with high responsibility for the society and the whole customers,” he said.

He continued that in 2009, the bank gained its victory in the business operation with the capital growth, and we have 33 million US dollars capital and 42 million US dollar share fund with increasing 17 per cent if comparing with 2008, and total active asset with 275 million US dollars with 5 per cent increase compared with 2008, and moreover, we have credit and total liquidity of 105 million US dollars in increasing with 7 per cent to the customers. And additionally, the bank has 227 million US dollars deposit in rising with 4 million US dollars about 2 per cent in 2008.

He continued that we have some reasons that we selected this location as new branch because the sea port is our good customer and honest, long term partner and we cooperated for over tow decades. Moreover, the port is the heart of the economic gate to approach international markets and especially the FTB bank has purposes to boost economic growth of the country and develop the activities and bank services for serving the demands of the international trade and trade credit, credit copy, and operational credit for import and export. According to the report from the foreign trade bank, the FTB located mainly in Phnom Penh with two braches and it is Cambodia's first and foremost bank. It is a joint private and Government venture and has been providing customers with safe and reliable banking services for more than 29 years and it registered capital in USD 13 million and first bank license dated on 4 January 2001 with registered an amendment to the Memorandum of the Articles of Association that was registered at the National bank of Cambodia on 14 June 2006. The statement from the Association of Banks in Cambodia (ABC) said that it represents 26 commercial banks, 6 specialized banks, and the Cambodia Microfinance Association (CMA), of which is by-laws a sub-division of ABC. CMA has 18 members. ###