AKP Phnom Penh, February 20, 2025 --

Cambodia’s banking and financial industry saw a slow credit growth at 3 percent in 2024 with outstanding loans amounted to US$59.9 billion, according to the annual report of the National Bank of Cambodia (NBC) on Feb. 20.

The customers’ deposits increased by 16.3 percent to US$57 billion, the report pointed out.

The non-performing loans (NPLs) at the banks and the microfinance institutions were at 7.9 percent and 9 percent growth, respectively, it added. 

NBC Governor H.E. Dr. Chea Serey said that the decline is due to both demand and supply factors. “On the demand side, it is due to the slow recovery of some sectors such as construction and real estate, tourism, and wholesale and retail, which has led customers to reduce borrowing,” she said in the NBC’s recent annual meeting. 

“On the supply side, it is due to banking and financial institutions increasing caution in providing credit amid high regional and global economic uncertainty,” she explained.

On the deposit side, the NBC governor said the fast growth last year reflected that the banking system is resilient with strong confidence from the public.

The current assets in the Kingdom’s banking and financial system rose to US$91.1 billion by 2024, a year-on-year increase of 7 percent, stated the report, citing that this increase shows that the banking system continues to maintain progress and stability, which has contributed to supporting the economic recovery.

The report shows that Cambodia has 59 commercial banks, nine specialised banks, 85 microfinance institutions, and 114 rural credit institutions, with 23.3 million deposit accounts and 4 million credit accounts.

H.E. Dr. Chea Serey, Governor of NBC

By Chea Vannak