Credit at Cambodia's banks grows by 5.4% in first half

Lending at Cambodia's commercial banks increased by 5.4 percent in the first six months of this year thanks to a better economic situation, a central bank official said Monday. Nguon Sokha, director general of the National Bank of Cambodia (NBC), said that the kingdom's 34 commercial banks had lent a total of 6.2 billion U.S. dollars to customers by the end of June this year, up 5.4 percent from 5.88 billion U.S. dollars at the end of last year. About 30 percent of the loan went to trade sector, 18 percent to agriculture, 9 percent to manufacturing, 7 percent to construction, 6 percent to hotels and restaurants, 6 percent to mortgages and the remaining amount went to financial institutions, real estate and personal borrowing. On the deposit side, she said by June this year, the banks had received a total deposit of 6.75 billion U.S. dollars, up 9.5 percent from 6.16 billion U.S. dollars at the end of last year. "Growth in loan and deposit reflects better economic situation and public confidence in banking sector and political stability," she said. Cambodia has the population of about 14.5 million with its banking sector serving about 1.6 million borrowers and 1.9 million depositors, the NBC said.