Sathapana Bank Plc. Obtained Full Commercial Bank License

After our official merger started from the 19th January 2015 to form “Sathapana Bank Plc.”, on 28th March 2016, the Bank has officially obtained its full Commercial Banking License granted from the National Bank of Cambodia. The registered Head Office is at 83, Preah Norodom Boulevard, Sangkat Phsar Thmey 3, Khan Daun Penh, Phnom Penh City.

As of 31st March 2016, Sathapana Bank Plc., which has its registered paid-up capital of USD120 million and total assets of USD731 million with total loans outstanding of USD547 million, and total deposits outstanding of USD380 million has 73 ATMs and 3,458 staffs. Sathapana Bank Plc. has a diversified skills management and staff with market know-how in microfinance and Commercial Banking.

Oknha Dr. BUN, Mony, Chief Executive Officer of Sathapana Bank Plc., strongly believes that both human and finance resources will build a stronger people’s bank to gain more competitive advantage in this market to accomplish the goal successfully. The Bank strategy is to strengthen the tailor-made financial solutions to serve micro and SME real needs especially to strengthen our friendly customer services and experiences at all its 160 branches networks throughout the country. By sharing the core competencies, skills and resources, the management of Sathapana Bank Plc. strongly believes that the Bank shall allow the continuous delivering of international banking standard services as the key of the poverty reduction throughout Cambodia, and connect Cambodia with the global markets.

Dr. Han Chang-Woo, Chairman of ultimate parent company Maruhan Corporation, Japan, and Sathapana Bank Plc.comments as follows: “Sathapana Bank Plc. was formed with the aim of supporting the growth and development of Cambodia and we have long recognized that the banking and microfinance industries have a key role to play in the continuing development of Cambodia. Our investment in Sathapana Bank Plc. will further strengthen the philosophy, building a solid competences and the improvement in the best banking practice standard of the Commercial Banking and the microfinance sectors with the spirit of working hard, hungry and challenge toward the better living standard and brighter future. And through these core joint-competencies,Sathapana Bank Plc. will strengthen its position and contribute to the poverty reduction in part of the long-term economic development for Cambodia. Under the strong guidance and support from the National Bank of Cambodia, he strongly wishes for the new bank to be the people’s Bank in Cambodia and to make their lives better”.

During the Ceremony, His Excellency Kumamaru Yuji expressed that Cambodia’s economy is progressing forward smoothly. With his view, one of the main factors contributes to this economic growth is the financial sector performance which includes the roles of Commercial Bank under the National Bank of Cambodia’s excellent leadership to maintain stability in Cambodia financial sector. In facts, Sathapana Bank Plc. becomes now the second largest Commercial Bank in Cambodia in term of its 160 nationwide branches and through the expertise and experiences in financial sector, he is strongly confident that the Bank will contribute significantly in economic development of Cambodia as well as improving livelihoods the people.

His Excellency Chea Chanto, Governor of the National Bank of Cambodia, states during the Official Launching Ceremony that the successful merger of Maruhan Japan Bank Plc. and Sathapana Limited formed as full Commercial Banking, it proves clearly the strong contribution and strength of the banking system development in Cambodia. In the meantime, he also encourages all Financial Institutions, to be as key professional financial service providers to continuously cooperate with the National Bank of Cambodia and other relevant authorities in order to participate and to strengthen the banking system including the good risk management, well-established governance and the public confidence building to be the important part of the Cambodian economic development and poverty reduction as well. Finally, He wishes the management team and staff of Sathapana Bank Plc. for success and prosperity and sustainable growth.