As I stated earlier in this thread, I'm headed out to Cambo in a few days for some entrepreneurial exercises.
To get ready, I've been doing some research into local banking and researching interest rates. Most of you probably know that Cambodia uses the US dollar for pretty much everything more expensive than a bowl of noodle soup. Perhaps due to the tremendous growth going on there, banks are offering comparatively high interest rates to their US counterparts. For example, here's what Canadia Bank has on offer for fixed deposits:
Interest Rate (Yearly)
Currencies / Month(s)1 Month3 Months6 Months9 Months12 Months24 Months
US Dollar 2.00%2.50%3.50%4.00%4.75%5.50%
RielN/A 5.00%6.00%N/A7.00%8.00%
Baht 1.00%1.50%2.00%N/A2.50%3.00%
Monthly Interest CreditN/A2.25%3.25%3.75%4.50%5.25%
(Sorry, about the formatting. I'm not really sure how to insert the graph into the post.) You can see the complete disclosure here:
http://www.canadiabank.com.kh/fixed_depo.aspx
I've been looking at the other Cambodian banks and these seem to be the going market interest rates. Savings accounts are lower but still (mostly) better than the US:
http://www.canadiabank.com.kh/Savings.aspx
With that said, I'm still unsure if it's worth it to consider putting a significant amount into the Cambodian bank system. Not sure what kind of safety nets they have, etc. Does anyone have any experience with banking in Cambodia?
Lifted from khmer440, here is a list of banks from the Association of Banks in Cambodia:
ACLEDA Bank PLC (ACLEDA)
Advanced Bank of Asia Ltd (ABA)
AGRIBANK CAMPUCHIA BRANCH (AGRIBANK)
Australia and New Zealand Royal Bank (Cambodia) Ltd (ANZ Royal Bank)
Bank of China Limited Phnom Penh Branch (BOC)
Bank of India Phnom Penh Branch (BOI)
Bank for Investment and Development of Cambodia Plc (BIDC)
Booyoung Khmer Bank(BKB)
Cambodia Asia Bank Ltd (CAB)
CIMB Bank PLC (CIMB)
Cambodia Mekong Bank PLC (MekongBank)
Cambodian Commercial Bank (CCB)
Cambodian Public Bank (Campu Bank)
CAMKO Bank (CKB)
Canadia Bank PLC (CNB)
First Commercial Bank Phnom Penh Branch (FCB)
Foreign Trade Bank of Cambodia (FTB)
HwangDBS Commercial Bank PLC (HDBSCB)
Kookmin Bank Cambodia PLC (KBC)
Krung Thai Bank PLC, Phnom Penh Branch (KTB)
Maruhan Japan Bank (MJB)
Maybank Phnom Penh Branch (Maybank)
OSK Indochina Bank (OSKIBL)
Phnom Penh Commercial Bank (PPCB)
Saigon Thuong Tin Commercial Joint Stock Bank (Sacom Bank)
Shinhan Khmer Bank (SKB)
Singapore Banking Corporation Ltd (SBC)
Union Commercial Bank PLC (UCB)
Vattanac Bank Ltd (VBL)