Phnom Penh Commercial Bank
Phnom Penh Commercial Bank (PPCB) is a public bank of Cambodia. The bank was founded on 1 September 2008 with US$15m in paid in capital. The head office of the bank is located on Monivong Boulevard in Phnom Penh.
The bank is a joint venture of Hyundai Swiss Savings Bank (now SBI Savings Bank) of South Korea, and SBI Group of Japan. The SBI Group has invested $6 million for a 40% interest in the new Cambodian bank while Hyundai Swiss Savings Bank has invested $8.55 million for a 57% stake. The remaining 3% investment is held by another South Korean financial group. The Phnom Penh Commercial Bank is Cambodia's 23rd commercial bank and the first bank launched by a Japanese company in Cambodia.
Background
The Phnom Penh Commercial Bank is one of a number of banks which have opened operations in Cambodia in the wake of several major changes in the domestic financial sector. In May 2007, Standard and Poor’s issued a historic first ever rating to a Cambodian bank. In 2008, the National Bank of Cambodia announced a change in the deposit requirements for all banks operating in Cambodia.
