French bank set to enter Cambodia
French bank BRED Banque Populaire – part of the second-largest banking group in France – will start commercial operations in Cambodia later this year, marking the first foray for a European bank in the Kingdom since the late 1990s, sources in the banking sector said on 17 February.
In Channy, CEO of Acleda Bank, confirmed that BRED, part of France’s Groupe BPCE, had applied for a commercial banking licence. He said that while the two banks would partner together, given their existing relationship, they would operate independently.
