Accessibility links

Banks Plus Stability Equal Good News, Analysts Say

More banks are finding the courage to open across Cambodia, in a positive sign for Cambodia's growing economy, while customers are the real beneficiaries, analysts say.

More and more people are putting there faith in banks, in a country that saw decades of currency upheaval with the rise and fall of different regimes. Fewer people are squirreling away their money at home, learning instead the benefits of banks, in an economy that is growing at 10 percent per year.

Analysts say the country's economy benefits from banking because more money is made available to loan out or build interest, while depositors gain security.

Mou Meng Seng, a bank customer, told VOA Khmer he knew that putting money in the bank would earn him interest. He said he now trusts that his money would be safe in the bank.

"I think I will get some interest, but I am not comfortable leaving my money at home, in case there will be some problems," he said. "So I take the money to the bank."

He said he wasn't sure how the money benefited the national economy.

"I only know that it will give additional money in the interest to my money," he said.