(VOV) - The Saigon - Hanoi Commercial Joint Stock Bank (SHB) on February 9 opened its branch in Phnom Penh, Cambodia, becoming Vietnam’s fifth bank to operate there.
Speaking at the inauguration ceremony, Do Quang Hien, Chairman of SHB, confirmed that choosing Cambodia as the bank’s first foreign investment market is part of its long-term strategy to make SHB a modern retail bank domestically and regionally.
The establishment of the bank not only demonstrates the fine development of the comprehensive cooperative relationship between Vietnam and Cambodia, but also offers an opportunity for the development of the banking sector in Cambodia, said Hien.
The branch committed to bringing diverse, convenient and competitive services for Cambodian businesses and people, and supporting Vietnamese businesses in investing in the country, he noted.
Also at the event, Cambodia’s Permanent Deputy Prime Minister Men Sam An highly appreciated the opening of SHB’s branch in Cambodia, showing the firm confidence of foreign investors in general and Vietnamese investors in particular in Cambodia’s bright economic future.
She expressed her belief that the establishment will advance Cambodia’s finance and banking sector and increase people’s standard of living through creating jobs and providing finance services for businesses.
On the occasion, SHB leaders handed over US$50,000 as gifts to the Cambodian Front for National Solidarity and Development.