‘Cambodia’s banking system stays strong’

Covid-19 epidemic had a devastating effect on the global economy, but Cambodia has been able to maintain good economic stability and the banking system remains strong and creditworthy to support economic activity, according to a report. During 2021, assets and deposits of the banking system increased by 18 percent and 17.7 percent, respectively, and loans increased by 23.5 percent, the National Bank of Cambodia (NBC) said in its latest report.

The bank’s assistant governor and Director General Chea Serey told a workshop on ‘Financial Stability Review 2021’ that the domestic and global economic activity in 2021 continued to pick up despite the emergence of new Covid-19 variants and an increase in infection rates.

“For Cambodia, the favourable condition of the world economy, coupled with the success of nationwide Covid-19 vaccination campaigns, spurred recovery with a 3 percent growth rate in 2021 after a slump to -3.1 percent in 2020.

https://www.khmertimeskh.com/501097033/cambodias-banking-system-stays-strong/