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Credit at Cambodia's banks up 5% in Q1: central bank


18:15, May 30, 2013

PHNOM PENH, May 30 (Xinhua) -- Lending at Cambodia's commercial banks grew by 5 percent and deposit increased by 3 percent in the first quarter of this year, a report from the National Bank of Cambodia showed Thursday.

The report said that the kingdom's 33 commercial banks had lent a total of 6.1 billion U.S. dollars to customers by the end of March this year, up 5 percent from 5.79 billion U.S. dollars at the end of last year.

It said that about 32 percent of the loans went to trade sector, 10 percent to agriculture, 9 percent to manufacturing, 8 percent to construction, 6 percent to hotels and restaurants, 6 percent to mortgages and the remaining percentage went to financial institutions, real estate and personal borrowing.

On the deposit side, the report said that by March this year, the banks had received a total deposit of 6.29 billion U.S. dollars, up 3 percent from 6.09 billion U.S. dollars at the end of last year.

Nguon Sokha, director general of the National Bank of Cambodia, attributed the increases in loan and deposit to good economic situation in combination with stronger pbulic confidence in the banking industry.

"We project that for the whole year of 2013, the lending will grow around 32 percent and the deposit will be up about 30 percent, " she told Xinhua over telephone.

"The central bank will continue to strengthen the supervision of the commercial banks in order to ensure financial stability."

Cambodia has the population of about 14.5 million. Its banking sector has been serving about 1.6 million borrowers and 1.9 million depositors, said the central bank.

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