Vietnam's Sacombank opens 4th branch in Cambodia

Vietnam's Sacombank inaugurated a branch in Kampong Cham City, taking to four the number of its branches in Cambodia.

The branch provides a wide range of services such as international remittance, consumer and business loans, guarantees and deposits, for Cambodian enterprises and individuals, the Vietnamese community in Cambodia and Vietnamese companies doing business there.

It also has special services like one-hour remittance within Vietnam, Laos and Cambodia. Sacombank (Cambodia) Plc as of March 20 had mobilised $47 million and lent $60 million. Remittance revenue between Cambodia and Vietnam via the bank reached $521 million in 2010 and 2011.

The bank has over 2,000 corporate and individual clients in Cambodia.