Sathapana Bank Announces Commencement of Its New Head Office Construction

PHNOM PENH, CAMBODIA – SATHAPANA Bank Plc. today announces the start of the construction of its new head office with a ground breaking ceremony held at its soon-to-be location along Preah Norodom Boulevard corner Streets 172 and 174. When completed, the building will be 22 storeys high with five basement floors dedicated for car and motorbike parking. It will be an international standard Grade A building, which is only a few in Phnom Penh.

“Maruhan Group, in order to support Sathapana Bank’s further development, and to provide more excellent services to our customers, has been thinking of establishing a new Head Office building for the bank since many years ago,” declared by Dr. Han Chang-Woo, Chairman of Maruhan Group during his speech at the ceremony. “Moreover, even before the merger of Maruhan Japan Bank and Sathapana Limited, I had focused on this excellent location and took action to procure this site.”

“I strongly believe that Cambodia will continue to grow strongly in the future. And, I believe that now is the time to start the construction of the new building,” Dr. Han further affirmed.

Meanwhile, H.E Pen Sophal, the Secretary of State, at the Ministry of Land Management Urban Planning and Construction, said during the ceremony, “I believe that Maruhan Group Investment on the building of Sathapana Bank’s head office will bring highly innovative technology complying with international standards. Meanwhile, other related parties in Cambodia will acquire and implement new practices in order to empower the construction sector, protect the environment, and to promote Cambodia’s culture in the 21st century.”

Sathapana Bank Plc., through the project by Maruhan Group, will open this new Head Officeto accommodate its expanding number of employees and to better serve its increasing client base. The new office is estimated to accommodate at least 1,200 employees.

The new Head Office will be the bank’s primary hub in extending its products and services to its growing clientele. It will be central to the bank’s future strategic directions as it plans to launch unique and innovative banking services in the future.

Set to be completed in the latter half of 2019, the new Head Office will symbolize Sathapana Bank’s deep commitment to be an active player in the growth banking sector, Cambodian economy development and in the empowerment of the country’s entrepreneurs.

About Sathapana Bank Plc.

Sathapana Bank Plc is one of the leading commercial banks in Cambodia with 163 branches, more than 4,000 employees, and with a wide range of products and services of a merger between Sathapana Limited and Maruhan Japan Bank Plc. Formed to provide reliable banking services as the “People’s Bank” in Cambodia, it is dedicated in empowering entrepreneurs and generating employment in order to improve their business and living standards through access to financial services in a sustainable manner. As of 31 December 2016, Sathapana Bank Plc. has its registered paid-up capital of USD120 million, total assets of USD929 million, total loans outstanding of USD611 million, and total deposits outstanding of USD583 million. As of June 2017, the bank has successfully deployed 96 ATMs in service throughout the country.