Increased capital shows increased commitment
22 December 2011
Phnom Penh, Cambodia
MARUHAN Japan Bank, Cambodia’s first Japanese-owned commercial bank, has been in operation since 2008 and is already established as one of the leading commercial banks in the country.
The Bank is now delighted to announce that, with the approval of the National Bank of Cambodia, it has increased its paid up capital to US $74 million. This increase positions MARUHAN Japan Bank as one of the largest commercial banks in Cambodia, in terms of value of paid up capital.
MARUHAN Japan Bank was formed by the enormously successful MARUHAN Group, which is headquartered in Tokyo and provides employment to over 12,500 people across Asia, with the aim of supporting the strong bi-lateral ties that exist between Japan and Cambodia. The Bank’s aim is to deliver products and services that facilitate and encourage investment and contribute to the continuing growth and development of Cambodia.
Since its launch, MARUHAN Japan Bank has set an aggressive pace in its drive to support the economic development of the country and ensure that Cambodians, and others doing business in Cambodia, have access to truly international standard banking products and services and a fully functional and competitive regional banking network.
“This capital increase is intended, firstly, to show our support for the Cambodian Government’s efforts in maintaining financial security and stability and developing Cambodia’s economy. It also demonstrates that we are in Cambodia for the long haul and are totally committed to ensuring that our personal banking customers and people doing business in Cambodia have the opportunity to access international standard, competitive, professional and effective financial products and services so that they can maximise the effectiveness of their efforts to drive the country forward”, said General Manager, Mr. ONISHI Shizuo.
This latest development follows on the heels of an impressive number of other significant product and service developments announced recently, including:
- An upgrade to its core banking and management information systems which aligns them with industry best practice, allows the Bank to adapt quickly to changing market and regulatory requirements, increases operational internal controls, efficiency and IT security and supports a raft of new products and services that are being prepared for launch in 2012, and which will ultimately allow the Bank to deliver the most sophisticated banking available in Cambodia.
- A host of business alliances with major national microfinance institutions that will benefit not only the companies involved, but will allow the Bank to support the crucial work that these institutions do to support the development of Cambodia at a grass roots level.
MARUHAN Japan Bank is confident that these investments will foster confidence with potential banking partners across the region and make MARUHAN Japan Bank an even more attractive choice to Cambodian, regional and global customers.