Recently, at Sokha Phnom Penh Hotel & Residence, Kingdom of Cambodia, International Data Group (IDG) in collaboration with the National Bank of Cambodia organized the Cambodia Outstanding Banking Awards 2017, aiming to honor prestigious foreign banks with outstanding operations and significant contribution to the development of banking-finance in particular and Cambodian economy in general. This is the 3rd time SHB Combodia was honored Cambodia Outstanding Bank in two categories, including “Oustanding SME Bank 2017” and “Outstanding Innovative Banking Product-Service 2017”.
With the objective to become a leading multi-functional retail bank, SHB in general and SHB Cambodia in particular have attached great attention to the diversification of products and services, based on which to offer flexible financial solutions to partners and customers at reasonable cost and high quality.
With the increasing awareness on the significance of SMEs to the economy, SHB Cambodia has launched a variety of products and services attached with differentiated support policies to meet financial demands of enterprises, thereby facilitating their business. Moreover, the Bank has been focusing on studying market and customer demand in order to develop preferential credit packages tailored to corporate customers for supplementing working capital, purchasing equipment and car, investing into fixed assets, etc. All of these have made a firm basis for IDG and the National Bank of Cambodia to give high recognition and honor SHB Cambodia with “Outstanding SME Bank 2017” award.
SHB Cambodia is also awarded “Outstanding Innovative Banking Product-Service 2017” with the progressive savings product, which is one among products prefered by various customers for its flexible savings tenor (short, medium or long-term), competitive interest rate by savings amount. Upon any sudden financial demands, customers can partially withdraw the principal through quick and simple procedures without any impacts on the remaining savings amount. Moreover, the savings book can be used as collateral for loans in SHB or other credit institutions, etc. With such distinct advantages, “Progressive savings product” helped SHB to win “Outstanding Innovative Banking Product-Service 2017” award.
Mr. Pham Xuan Son, CEO of SHB Cambodia said: “After 4 years of operation as a branch, SHB Cambodia has achieved stable and sustainable business results, significantly contributing to the socio-economic development of Cambodia and promoting mutual cooperation between two countries on various economic sectors including investment, finance – banking, trading and tourism, based on which to create investment waves of Vietnamese enterprises into Cambodia. SHB Cambodia branch marked a breakthrough development milestone by transforming into a 100% owned subsidiary bank in Cambodia from September 2016. The high recognition and prestigious awards presented by the National Bank of Cambodia – a local regulator and IDG – a reputable organization witness a significant success of SHB Cambodia, which drives us to move forward in our business and accompany the development of Cambodian economy. On that sustainable foundation, SHB Cambodia has been making its best effort to provide various products, services to customers with abundant utilities at reasonable cost”.
SHB Cambodia was established on September 2016 by transforming from a branch into a 100%-owned subsidiary bank. On June 06, 2017, the Bank obtained approval decision from the Governor of SBV to increase its charter capital from USD 50 million to USD 75 million with USD 25 million of additional funds from SHB. This capital increase will help enhance financial capabilities of SHB Cambodia, thereby delivering all kinds of finance – banking activities on the area, implementing various business operations in accordance with legal regulations following authorization from its parent bank; expanding its operation to surrounding areas; supporting retail and corporate customers with large-scale business; ensuring requirements on management of business operations; fully complying with current regulations on prudential operations in finance-banking sectors of both Vietnam and Cambodia.