RHB Indochina Bank Strengthens Position In Cambodia

KUALA LUMPUR, Oct 26 (Bernama) -- RHB Indochina Bank Ltd (RHB Indochina), a member of the RHB Banking Group (RHB), is poised to strengthen its position in Cambodia and the Indochina region next year by driving retail expansion and promoting digital banking. RHB said among its key priorities in 2019, RHB Indochina aimed to roll-out deposit campaigns to attract US dollar and Cambodian riel deposits, especially for current and savings account (CASA), and increase small and medium enterprise (SME) loan portfolio by 12 per cent. “RHB Indochina is seeking to acquire US$575 million (US$1 = RM4.17) in deposits and maintain CASA composition at 45 per cent of its business. “The bank will also be expanding its product and service offerings to meet the growing demand of the business community and the Cambodian population by introducing premier banking, safe deposit box and debit card,” it said in a statement Friday. RHB said RHB Indochina launched its RHB Mobile Banking App today, which would offer customers simple, fast and seamless banking experiences. “This new app allows customers to view their accounts online, pay bills, transfer funds, mobile reloads, and transfer cash through RHB Pay Anyone using email, phone or Facebook account without needing a bank account number,” it said. Since the launch of the RHB Now Internet banking platform in September last year, RHB Indochina has more than 4,000 active users. “The SME sector plays a significant role in the Cambodian economic development contributing 40 per cent to 50 per cent of total employment and business activities within the kingdom. “As a multinational financial services group with a regional presence spanning nine countries across the ASEAN region, Hong Kong and China, we are in a strong position to support SMEs. “The group can provide access to financing and provide opportunities for business linkages and networking through organised trade missions to key markets where we have a presence,” said Khairussaleh Ramli, Group Managing Director, RHB Banking Group and Chairman of RHB Indochina Bank. -- BERNAMA