MAYBANK CONTINUES EXPANSION IN CAMBODIA WITH 8TH BRANCH

KUALA LUMPUR, June 24 (Bernama) -- Maybank, Malaysia's largest bank and
financial group, has opened its eighth branch in Cambodia's Battambang city, the
second largest city in the country after Phnom Penh.

Battambang is the main commercial hub of the northwestern region of Cambodia
and is about 291 km from Phnom Penh and 140 km from Poipet, the border
town between Cambodia and Thailand.

In a statement here Thursday, Maybank said the new branch offered a range of
retail and commercial banking services, namely deposit and placement, trade
finance, loans, remittances, foreign exchange and mortgages as well as an
automated teller machine.

Maybank Head of International, Abdul Farid Alias said the opening of the
new branch was in line with the group's strategy of accelerating its network
expansion in Cambodia to tap into the growing demand for banking services in the
country.

"With the Cambodian economy expected to grow by about four per cent this
year, arising from improved external demand and the easing of credit, we believe
this is an opportune time to leverage on the strong business potential and
rising demand for banking," Farid said.

He added that Battambang's growth prospects were even more evident given its
significant population as well as the presence of agriculture and agro-based
industries, trading & wholesale business enterprises and tourism.

"There are also a number of foreign investors involved in infrastructure and
telecommunication projects as well as property development in the area, which
augurs well for the future of this region," he added.

Farid said that Maybank would not only cater to its international customers
who have investments in Cambodia, but also to the local market through its range
of banking services.

"We are currently working on a regional ATM linkage to provide greater
convenience for our customers and this will enable us to also explore the
setting up off-site ATMs in Cambodia."

He added that given the growth potential and positive economic outlook for
Battambang and Cambodia as a whole, Maybank was confident that its newest branch
will record profits from the second year of its operation.

"We intend to maintain our growth momentum in Cambodia with the opening of
another three provincial branches by 2011, which will also reinforce our
expanding regional network and leadership," Farid said.

Maybank Cambodia has six branches in and around Phnom Penh and one branch in
Siem Reap apart from the latest office in Battambang.

Globally, Maybank has over 1,750 offices in 14 countries, with presence in
seven out of the 10 Asean countries as well as in the key international
financial centres of Hong Kong, London, New York, Shanghai and Bahrain.
-- BERNAMA


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