Publicly listed Japanese conglomerate Resona Holdings signed an agreement yesterday with Cambodia Public Bank (Campu) aimed at increasing its customer base in the Kingdom’s banking sector.

Resona Holdings subsidiary firms Resona Bank, Saitama Bank and Kinki Osaka Bank are all part of the agreement, which allows the foreign companies to leverage Campu’s local standing to generate new business, according company officials.

“The number of Japanese companies and [amount of] foreign direct investment here in Cambodia has been increasing, especially in the past few years,” Phan Ying Tong, regional head of Indochina operations at Cambodia Public Bank, said.

“The business collaboration between these banks will strengthen the level of banking service support offered to the customers.”

Ying Tong added that the agreement will enable the two companies to find new clients in there respective markets and improve banking transaction times between Japan and Cambodia.

Citing the last week’s opening of the Japanese-owned Aeon Mall on Sothearos Boulevard, Yuji Kumamaru, the Japanese ambassador to Cambodia, said that a growing number of Japanese companies were shifting their focus to the Kingdom with an eye to new business startups.

“I hope the partnership between Resona and Campu will contribute to the success of Japanese companies in Cambodia,” he said.