The Military Commercial Joint-Stock Bank (MB) inaugurated its first branch in Cambodia’s capital of Phnom Penh on Dec. 20.

Attending the opening ceremony were Governor of Cambodia’s National Bank Chea Chanto, Vietnamese Defence Deputy Minister Senior Lieut. Gen. Le Huu Duc, and Secretary of Cambodian Ministry of National Defence Gen. Mang Samphal.

Addressing the ceremony, MB General Director Le Cong said the MB now has a total of 170 domestic and international branches. The new branch in Cambodia , the second international branch after the one in Laos , will focus on small and medium-sized companies and individual customers.

After 17 years of foundation, the Military Bank is now one of five biggest banks in Vietnam , with a charter capital of 480 million USD./.