HCMC – Saigon Thuong Tin Commercial Bank (Sacombank) has announced to increase the capital of its Cambodia branch from US$15 million to US$38 million as required by Cambodian rules.
After one year of operation in Cambodia, Sacombank now has 650 customers in Phnom Penh where its branch is located and other provinces such as Takeo and Kampong Cham.
The bank provides 23 services in Cambodia, including deposit taking, lending, settlement of payments, underwriting and money transfer.
Money transfer revenue between Vietnam and Cambodia via Sacombank has amounted to US$126 million to date given the bank’s express service, which takes only one hour.
To mark one year in Cambodia, Sacombank organized a run in Phnom Penh on June 20 with 300 people taking part, which will be turned into an annual event of the bank in the neighboring country.
Source: saigonmoney.com
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