Cambodia’s Prince Bank Ordered into Liquidation

Cambodia’s financial regulator has moved decisively against Prince Bank Plc, announcing that the institution has been placed under liquidation and stripped of its licence to operate. The National Bank of Cambodia (NBC) confirmed the measure in a public notice on Thursday, following the deportation of Prince Group founder Chen Zhi to China amid allegations of cybercrime and money laundering.

The NBC said the decision was taken in line with national banking laws and has appointed Morison Kak MKA Audit‑Accounting Co Ltd as the official liquidator. The firm now has full authority to manage, administer and dispose of the bank’s assets and operations.

“As a result of the liquidation, Prince Bank Plc is no longer allowed to carry out any banking activities,” the NBC stated. It stressed that depositors will be able to withdraw their funds once proper documentation is provided, with withdrawals arranged according to priority under the Law on Banking and Financial Institutions. Borrowers, meanwhile, must continue to meet their contractual obligations.

The move comes at a sensitive moment for Cambodia’s financial sector, as Chen Zhi—once a prominent business figure with close ties to political leaders—faces international sanctions and criminal charges abroad. His conglomerate, Prince Holding Group, has investments spanning real estate, hotels, and construction projects, though the fate of these subsidiaries remains unclear.

Officials emphasised that the liquidation is part of a broader effort to protect depositors and restore confidence in the banking system. Senate spokesman Chea Thirith underscored the government’s stance, writing that “any individual who breaks the law, regardless of their position, cannot escape the reach of justice.”

For now, the spotlight remains firmly on the liquidation process itself, which the NBC has pledged to monitor closely in cooperation with other ministries. The outcome will determine not only the future of Prince Bank but also the wider perception of Cambodia’s ability to enforce financial discipline in the wake of high‑profile scandals.

-2026-01-09