Phnom Penh Commercial Bank

Phnom Penh Commercial Bank
Company typePrivate
IndustryBanking
FoundedSeptember 2008; 16 years ago (September 2008)
Headquarters
Phnom Penh
,
Cambodia
Area served
Cambodia
Owner
Parent
Websiteppcbank.com.kh Edit this at Wikidata

Phnom Penh Commercial Bank (PPCB; Khmer: ធនាគារ ភ្នំពេញ ពាណិជ្) is a public bank of Cambodia. The bank was founded on 1 September 2008 with US$15m in paid in capital.[1] The head office of the bank is located at #217, Norodom Blvd, Sangkat Tonle Bassac, Khan Chomkarmon.

The bank was established as a joint venture of Hyundai Swiss Savings Bank (now SBI Savings Bank) of South Korea, and SBI Group of Japan.[2][3] The SBI Group has invested $6 million for a 40% interest in the new Cambodian bank while Hyundai Swiss Savings Bank has invested $8.55 million for a 57% stake. The remaining 3% investment was held by another South Korean financial group.[4] The Phnom Penh Commercial Bank is Cambodia's 23rd commercial bank,[5] and was the first bank launched by a Japanese company in Cambodia.[6]

In 2016, the bank was acquired by a consortium of South Korean JB Financial Group [ko] and what is now OK Financial Group (a conglomerate run by Korean Japanese entrepreneurs), each obtaining 60% and 40% of stakes respectively. As a result, the bank is currently owned by two subsidiaries of JB Financial Group – Jeonbuk Bank [ko] (a regional bank that primarily serves the North Jeolla Province; 50%) and JB Woori Capital (unrelated to neither Woori Financial Group nor its subsidiary Woori Bank; 10%) – and one subsidiary of OK Financial Group – Apro Financial [ko] (which issues high-interest loans under the trade name of Rush & Cash; 40%).[7]

  1. ^ "SBI Cambodia bank starts business". Kyodo News. Sep 2, 2008. Retrieved 2009-01-14.
  2. ^ "Hyundai Swiss Bank". Archived from the original on 2009-02-13. Retrieved 2009-01-09.
  3. ^ Samrach. "We Make Banking Easy! - PPCBank Cambodia". Ppcb.com.kh. Retrieved 2022-07-22.
  4. ^ "SBI Holdings, Hyundai Swiss open bank in Cambodia". The Asian Banker. September 10, 2008. Retrieved 2009-01-14.[permanent dead link]
  5. ^ "The Banking System in Cambodia" (PDF). Bank of Thailand. September 30, 2008. Retrieved 2009-01-14. [dead link]
  6. ^ "SBI Opens Bank in Cambodia". Jiji Press. Sep 1, 2008. Retrieved 2009-01-14. [dead link]
  7. ^ Lee, Donald. "How a midsize Korean bank plans to finance the Kingdom's middle class". Capital Cambodia. Khmer Times. Retrieved 30 January 2020.