Cambodia's best international bank 2019: CIMB
Cambodia has many foreign banks and most of them have just one or two noteworthy qualities. CIMB Cambodia has the whole spectrum.
Overseen by Cambodian chief executive Bun Yin, the bank’s total assets rose 28% to $1.09 billion in 2019 and deposits increased 12% to $785 million. Pre-tax profit climbed 67% to $24 million.
At the same time it has kept a close eye on its $700 million loan book, with a non-performing loan ratio of just 0.18%, minuscule compared with the industry average of 2.2%.
CIMB has begun to embrace financial technology and digitalization. Last year, it launched a number of technological initiatives, including setting up customer-facing touchscreens to collect real-time digital feedback from users, and is working on four technology projects to improve customer convenience. They cover faster payments, data back-up encryption, automated inward cheque clearing and a host of new riel-denominated loan and deposit products introduced in 2018.
CIMB’s all-encompassing business means it has customers from across consumer, commercial, corporate and transaction banking. Its ability to grow in all of these divisions and turn a profit while embracing technology makes CIMB worthy of the best international bank in Cambodia award.