Shinhan Bank Opens 5th Branch in Cambodia

Shinhan Bank announced on Dec. 23 that it has opened a new branch in Steng Min Chey, an emerging developing area in Phnom Penh, in order for Shinhan Khmer Bank, a subsidiary of Shinhan Bank in Cambodia, to accelerate its business in the country.

The Steng Min Chey region is located southwest of Phnom Penh City that has 70 percent of the economic power of Cambodia. Since it is the intersection point of the downtown Phnom Penh and Cambodia’s largest industrial areas (Canadia and Vattanac industrial parks), it has a large floating population. Also, it is a region in which many local and foreign capital banks open their offices as it is developing into an emerging residential and commercial region.

With the opening of the Steng Min Chey branch, Shinhan Khmer Bank hires local RM to accelerate its business in the area and also plans to release a debit card combined with a student ID early next year through a MOU with Pannasastra University of Cambodia.

In addition, Shinhan Khmer Bank received the “Minister Award” from the Korean Ministry of Trade, Industry & Energy at the 2015 Cambodia CSR Awards Ceremony held in Phnom Penh on Dec. 15, showing a good example of Korean corporate social responsibility activities in Cambodia.

Meanwhile, Shinhan Bank hasnow secured 140 global networks in 19 countries around the world, with the opening of the the Steng Min Chey branch.