Phnom Penh, May 23, 2016:
Sathapana Bank Plc. is the first successful consolidated commercial bank in Cambodia between microfinance deposit taking license institution and commercial bank; it is operating in all 25 provinces and capital city in the Kingdom of Cambodia through 160 offices network. The First Commercial Bank (FCB) is a big Taiwanese bank which was originally established since 1899, and it has extended its investment and currently, it ranks among the world’s top 200 banks. Having absolute trust in Sathapana Bank Plc., First Commercial Bank (FCB) cooperated with other partners – totally 7 in Taiwan (FIRST COMMERCIAL BANK, PHNOM PENH BRANCH; FIRST COMMERCIAL BANK, OFFSHOREBANKING BRANCH; BANK OF TAIWAN, OFFSHORE BANKING BRANCH; CHANG HWA COMMERCIAL BANK, OFFSHORE BANKING BRANCH; HUA NAN COMMERCIAL BANK, LTD., OFFSHORE BANKING BRANCH; TAIWAN BUSINESS BANK, OFFSHORE BANKING BRANCH and Land Bank of Taiwan, Offshore Banking Branch) to provide a syndicated loan amounting to USD 35 million to Sathapana Bank Plc. and The two parties arranged the signing ceremony on the cooperation on May 18th, 2016 in Taipei, Taiwan. This cooperation reflected that Sathapana Bank Plc. gains more trust from public and investors/creditors and this new funding is a very important source that could empower Sathapana Bank Plc. to achieve its vision in poverty reduction and to contribute to the country’s economics development successfully.