Cambodia’s two largest banks, Canadia and ACLEDA, reported substantial profit increases for the second quarter of the financial year compared to the previous three months. Canadia’s profits rose by 14% while ACLEDA’s grew by 29.6%.
Both banks attributed the profits rise to the strong performance of the tourism, garment and agricultural sectors. The increased income will encourage the banks to lend more to businesses to enable further expansion.
This news demonstrates investors’ trust in Cambodia’s banking and financial institutions which only adds to the continuing positive economic outlook for the Kingdom.