Cambodia's best international bank 2020: Maybank
The Malaysian bank set up in Cambodia in 1993 and now provides a full range of financial services, from internet and mobile banking to foreign currency exchange services. The bank increased its total assets and customer deposits by 27.4% and 15.7% respectively in 2019. The bank also scored an above-industry return on equity of 15.2%, while pre-tax profit jumped 72.2%.
Maybank stands out from its peers thanks to its strong FX capabilities. The bank offers 26 currencies against the US dollar, including several exotic currencies, the most in the country. It is also the main FX counterparty to top local banks when the latter execute their FX deals.
In the past year, Maybank doubled down on its digitisation effort. The bank rejigged its flagship M2U mobile app, adding new features such as biometric login and phone top-up function. The app now has about 35,000 registered users. It also enhanced its M2E cash management tool for corporate clients.
Its efforts have paid off. The user base for M2U grew 10% in the first ten months of 2020 while that of M2E jumped 25% in the first three quarters.