Thai KBank to launch in Cambodia

[geovalin]

Cam McGrath

Kasikornbank, Thailand’s fourth-largest bank by assets, has received a licence to open its first branch in Cambodia, a bank executive said yesterday. “We got principle approval [from the National Bank of Cambodia] and we plan to operate the branch as soon as we can,” said Pakapong Poomarporn, Kasikornbank’s chief representative in Cambodia.

He said the bank would begin with one branch in Phnom Penh, though the location had yet to be finalised. Kasikornbank, or KBank as it is commonly known, currently operates a representative office in Cambodia.

read more: http://www.phnompenhpost.com/business/thai-kbank-launch-cambodia

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Always amazed me that some countries let foreign banks open branches ? What is the reason ?

[roblam]

Always amazed me that some countries let foreign banks open branches ? What is the reason ?

Why would this amaze you? There are Bank of America representative offices worldwide. ANZ operates in most Asian countries. Cambodia's Acleda Bank is expanding their operations to Laos and Myanmar. Singapore's DBS has branches all over Hong Kong. Krung Thai Bank and SCB have a presence in Phnom Penh. etc etc

This is a global economy. Crossborder trades require financial institutions to have a presence beyond their own four walls.

[buythisdashcam]

If I was one of the billionaire who own bank in any country I would do everything I can to avoid that foreigner banks open, and I guess that this is what they do, but it seems that they fail.

Always amazed me that some countries let foreign banks open branches ? What is the reason ?

Why would this amaze you? There are Bank of America representative offices worldwide. ANZ operates in most Asian countries. Cambodia's Acleda Bank is expanding their operations to Laos and Myanmar. Singapore's DBS has branches all over Hong Kong. Krung Thai Bank and SCB have a presence in Phnom Penh. etc etc

This is a global economy. Crossborder trades require financial institutions to have a presence beyond their own four walls.