The banking and finance sector in Cambodia is continuing to experience growth in the first half of 2024

The banking and financial industry in Cambodia has continued to demonstrate resilience in the first half of 2024, with modest growth in both loans and deposits despite global economic uncertainties.

H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia

The biannual report of the National Bank of Cambodia (NBC) released on Friday revealed that outstanding loans increased by 2.6 % year-on-year to US$58.9 billion by June this year. Meanwhile, customers’ deposits rose by 13.4 percent to US$51.9 billion.

The loans are for key sectors, including trade, housing, construction and real estate, agriculture, hotels and restaurants, and manufacturing, among others.

The report also indicated that non-performing loans (NPLs) at banks and microfinance institutions remained at manageable levels, at 6.8 and 8.3 %, respectively.

NBC Governor H.E. Dr. Chea Serey attributed the growth of the banking and financial industry to the cooperation of banking and finance in compliance with prudent regulations and continued to strive to maintain stable credit interest rates.

"The banking system is playing an important role in maintaining macroeconomic and financial stability, while also supporting economic growth," she said.

There are 59 commercial banks, nine specialised banks, 87 microfinance institutions, and 115 rural credit institutions across Cambodia, with a total of 21.3 million deposit accounts and 4 million credit accounts, according to the report.