Cambodia's best domestic bank 2022: Canadia Bank
Canadia Bank, one of Cambodia’s oldest banks, has seen plenty of changes over the past five years, including the steady refocusing of its business lines.
It concentrated on larger corporates for many years, but then decided to diversify its business and target small and medium-sized enterprises as well as retail consumers. This led to a better balance in its loan book – 60% corporate loans, 20% SME loans and another 20% of retail loans. The goal, says CEO Raymond Sia, is to boost the SME loan book to 30% by collaborating and tying-up with youth groups and female-focused associations to offer them the best possible services.
This attention to diversification is not the only reason why Canadia wins the best domestic bank award from Asiamoney. In more than 31 years, Canadia has stayed resilient and miles ahead of many of its peers, including in the past one-year period.
By the end of March, the bank had $7.6 billion in assets, had a 17.5% share of customer deposits, and had served nearly half a million customers.