In 2007 Campu Bank was able to boost pre-tax profits by 65% to $24m, while being able to double Tier 1 capital to $88.4m and expand assets by a significant 131% to $561.4m.
Campu expanded its branch network from five to nine branches in 2007 and added two more in 2008 to bring the network to 11, with another four expected by year-end. In May 2007, Campu was the first commercial bank to launch car loan financing and in July 2007 launched a new insurance company with a 51% equity stake. It has installed 19 ATMs in its network recently and also launched MasterCard in February 2008.
Since September 2007, Campu has become the largest lender in Cambodia, and its market share of loans has increased to 25.1% or $539.2m from May 2008. Nevertheless it has retained prudent risk management policies and kept its non-performing loans down to zero. Deposit growth has been maintained with deposits reaching $378m in May 2008.
Campu Bank is also ranked first among all commercial banks in Cambodia in terms of total assets and pre-tax profits, which stood at $750.8m and $15.2m, respectively, as of May 2008.
“Cambodian Public Bank is honoured to be awarded The Bank of the Year Award 2008 for Cambodia by The Banker,” says president and managing director Dr Teh Hong Piow. “This is the sixth time Cambodian Public Bank has won this award since 2001. The award is a testimony of the bank’s continued commitment to banking excellence and prudent management.”
