Logo of Phnom Penh Post newspaper Phnom Penh Post - Wing granted commercial bank licence

Wing granted commercial bank licence

Content image - Phnom Penh Post
Neak Oknha Kith Meng, Chairman & CEO of the Royal Group of Companies

Wing granted commercial bank licence

The National Bank of Cambodia grants licence to Wing to operate a commercial bank through its extensive digital financial ecosystem.

Wing (Cambodia) Limited Specialised Bank, the Kingdom’s leading mobile financial service provider, was awarded a commercial banking licence by the National Bank of Cambodia, which allows Wing to operate a commercial bank under the name Wing Bank (Cambodia) Plc.

“This marks another milestone towards our vision of providing financial access to every Cambodian and to aid economic growth. With our innovative technology and extensive knowledge of the local market, Wing, our agents and partners are primed to combine efforts to bridge the gap by providing financial tools to the underbanked population,” said Wing’s chairman Neak Oknha Kith Meng.

Content image - Phnom Penh Post
Lok Chum Teav Mao Chamnan, Chief Operating Officer of Royal Group of Companies

With the granting of the licence, Wing will be able to provide a broader variety of banking products and services to all Cambodians such as providing loans and collecting deposits from the public.

These services complement Wing’s existing portfolio of digital and financial services delivered through the extensive network of over 9,300 Wing Cash Xpress agents and the Wing Money App. Wing will continue its normal operations without any disruption in the existing services offered via the Wing agents and the Wing Money App.

“We are committed to ensure that our noteworthy evolution to a commercial bank has a positive impact on our community, business partners and other players in the market,” Wing CEO Manu Rajan said. “We will continue to work closely together with our partners and the public to drive financial inclusion in Cambodia.”

Content image - Phnom Penh Post
Wing’s CEO, Manu Rajan, (top right) and Senior Management of Royal Group of Companies

The licence from the National Bank of Cambodia consolidates Wing’s vision of improving the daily lives of the unbanked segment. Since its inception in 2009, Wing has strived to empower Cambodians with reliable, convenient and secure financial access.

Content image - Phnom Penh Post
Wing’s Senior Management attends the virtual launch of “Wing Bank (Cambodia) Plc

MOST VIEWED

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Koh Slaket studio resort brings culture with style

    Davitra (Cambodia) Co Ltd’s multi-million-dollar 13ha Koh Slaket studio-cum-resort just east of the capital was inaugurated in the first phase on August 6, providing national and international tourists with a new travel option and job opportunities for locals. The man-made cultural and scenic lakefront getaway