Company type | Private |
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Industry | Banking |
Founded | September 2008 |
Headquarters | , |
Area served | Cambodia |
Owner |
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Parent |
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Website | ppcbank |
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 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 (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 (which issues high-interest loans under the trade name of Rush & Cash; 40%).[7]