Vattanac Bank is a Cambodian-owned bank providing retail- and commercial-banking services to customers. Its branches and ATMs are currently located in Phnom Penh and Siem Reap. Since opening in 2002, the bank has achieved steady growth and continues to expand its operations and financial service offerings in Cambodia. The Post’s Special Report spoke with Chan Kok Choy, executive director and general manager, about the Vattanac Bank’s plans
When was Vattanac founded and where does it stand today?
The bank celebrated its 12th anniversary in November. We have four branch offices in Phnom Penh and one in Siem Reap. As of October 31, our total assets stood at $399 million, partly due to the increase in capital from $37.5 million to $64.5 million. We have a strong liquidity position with a loan-to-deposits ratio of 51 per cent. Our challenge is to grow our loans in a sustainable manner.
In light of the entry of overseas banks and the increasing number of commercial banks into Cambodia, what makes Vattanac Bank competitive?
Vattanac Bank places good emphasis on customer service. By delivering services that not only meet but exceed expectations, we have gained our customers’ trust and confidence.
We give importance to strengthening our corporate governance to ensure that we comply with the regulations set by the National Bank of Cambodia and for the sustainable growth and long-term development of the bank.
We aim to continually provide convenient services to our customers by offering products and services that fit their requirements, such as our seven-day banking at our main office and our introduction of internet banking, mobile banking and stored-value card in the near future.
We have strengthened our corporate governance in the past few years, and I am happy to share with you that we received the award for Best Corporate Governance Cambodia 2013 from Capital Finance International (CFI). We also received recognition from the International Banker as Best Commercial Bank Cambodia 2014 and the Best Innovation in Retail Banking Cambodia 2014.
We hear that you are moving to Vattanac Capital.
Yes, we are moving our head office to Vattanac Capital, a symbolic move that signifies the progress of the bank. We believe that there is a market for weekend banking, so our main office located on Level 1 of Vattanac Capital Mall now provides more convenient service with its seven-day banking. Our main office is open every day from 9am to 6:30pm.
We know that you are the chairman of Operation Smile Cambodia, please share with us your involvement in this organisation.
One of Vattanac Bank’s corporate values is to care for the environment and the community that we serve. The bank continues to support Operation Smile Cambodia and many other worthwhile causes as we like to help the less fortunate. Vattanac Bank encourages its staff to participate in various charitable activities as a way of giving back to the community.