Phnom Penh, Cambodia: CIMB Bank PLC (CIMB Bank) wins “Cambodia’s Best International Bank” Award 2018 from Asiamoney. The procedure of Asiamoney to award Cambodia’s Best International Bank covers both qualitative and quantitative performance during one whole year. Furthermore, the evaluation is conducted for all applications from various banks and through interviewing from the independent analyst in banking sector. Due to its prominent performance and advantages, CIMB Bank goes beyond other foreign banks that are operating in Cambodia in order to win this international award.
Mr. Bun Yin, Chief Executive Officer of CIMB Bank, announced in the press conference that, “On behalf of CIMB Bank, I am honoured to receive the award. This achievement reflects the potential of CIMB Bank in providing a suite of valued banking products and services in Cambodian market, which is evaluated and recognized by a prestige financial magazine, Asiamoney. CIMB Bank winning this award due to the hard-working of Management and Staff of CIMB Bank, together followed by strong support from CIMB Group and especially trust from our customers so far.”
Mr. Bun Yin added that Asiamoney evaluates based on some categories including retail banking as an international bank, credit card, Preferred or priority banking in Cambodia, cash management, trade finance & exchange rate and capital market business. Asiamoney also provides additional points to any banks having cross-border service. And all the above evaluated points are aligned to what CIMB Bank is offering to the customers.
CIMB Bank maintains its good governance with positive growth year by year since the start of our operation in Cambodia. Within the last 5 years, Profit before tax of CIMB Bank increases a staggering 700% from USD2 million in 2014 to USD14 million in 2018. The Bank’s asset doubles its size from USD353 million in 2014 to USD865 million in 2018.
This stable and right progression result to the growth of the Bank’s loan and deposit with 32% and 30% increase from USD209 million and USD265 million in 2014 to USD545 million and USD700 million in 2018. Besides, CIMB Bank maintains its quality for all sorts of loan to its customers with a very low rate of non-performing loan for only 0.19%, compared to banking sector as a whole up to 2.4%.
As a part of CIMB Group with extensive network in ASEAN, CIMB Bank in Cambodia offers its customers banking products and services both in local and across the region. With CIMB ATM Regional Link, our customers are able to access any of CIMB Group’s 8,000 ATMs across the region for free with no hidden fees or charges, and they enjoy best-in-market exchange rates for withdrawals in foreign currencies. With our priority banking, CIMB Preferred, our customers enjoy their special privilege in banking transaction at all Preferred Centre and other exclusive benefits across ASEAN.
CIMB Bank offers its customers same-day telegraphic transfer faster and safer in ASEAN such as Malaysia, Indonesia, Singapore, Thailand and Cambodia. Being forefront of product innovation, CIMB Bank launched HomePro, a mortgage product along with free life insurance up USD50,000. With it low interest rate and favorable condition, CIMB Bank becomes a leading bank in mortgage in Cambodian market
Over the eight year of its operation in Cambodia since 2010, CIMB Bank has increased its network to 13 branches – 9 in Phnom Penh & 4 in the major provinces such as Siem Reap, Preah Sihanouk, Battambang and Kampong Cham, along with 8 Preferred Centre. Serving more than 26,000 customers, the Bank offers a wide range of banking products and services including consumer, commericial and corporate & transaction banking.