Promoting consumer finance and simplifying procedures for loan applications would be a priority for commercial banks, financial companies and microfinance institutions as part of efforts to limit black credit, a conference heard in Ho Chi Minh City on January 20.
Cambodia’s Agriculture and Rural Development Bank (ARDB) said that it has received more than 288 loan applications so far with a total value of 31 million USD from small and medium sized enterprises (SMEs), according to Khmer Times.
Many commercial banks in the country have increased loan interest rates by 1-2 percent to investors in real estate as property prices continue to rise.
Technology holds the key to banks’ development, especially with the country’s increasing global integration, a seminar heard in Ho Chi Minh City on May 17.
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