The total assets of commercial banks rise 18.8 percent to $60 billion

The total assets of commercial banks rise 18.8 percent to $60 billion

The total assets rose pf commercial banks in Cambodia has risen by 18.8 percent to U$60 billion, the National Bank of Cambodia has said.

The main sources of funds are 67 percent from deposits, 19 percent from capital, and 14 percent other from borrowings.

The National Bank of Cambodia (NBC) on Monday released a report on the sector’s development in 2021, stressing that the sector remained healthy in light of COVID-19 pandemic.

The loan disbursement from commercial banks and specialised banks to customers amounted to $38.6 million as of the end of 2021, a year-on-year increase of 24.4 percent, it stated.

According to the NBC, deposits rose by 17 percent in 2021 to $35.1 billion, while the non-performing loan was 2 percent of total ratio last year.

These key points show that Cambodia’s banking and financial system was strong and resilient, the central bank stressed.

“Credit volumes continued to increase due to increased demand for investment and expenditures in sectors that supported economic activity, while non-performing loans remained low,” it said.

“Average interest rates on deposits and credit interest rates continued to fall, positively benefiting customers in accessing affordable capital,” the NBC stated. Chea Vannak – AKP/Khmer Times