Bank of China to expand operations in Cambodia
Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said on September 6. Chen Chang Jiang, CEO of Bank of China Phnom Penh branch, said that the bank aimed to have the two branches completed by the end of this year. “This will allow more Chinese investment to come into the country and open Cambodia up to China,” he said. Bank of China has operated in Cambodia since 2010 and currently has two branches in the capital. The bank has been at the forefront of promoting business transactions in China’s yuan currency, offering cross-border remittance settlements services, investment and import and export payments.
