CIMB Bank Marks 15 Years in Cambodia With a Strong Focus on Digital Innovation and Regional Integration

CIMB Bank PLC is doubling down on digital innovation, regional connectivity, and SME empowerment as part of its long-term strategy in Cambodia, according to CEO, Hong Cheap, who spoke with Cambodian journalists at a press conference on July 21, 2025.

The press conference was organised as part of a wider ASEAN media engagement program hosted by CIMB Group in Kuala Lumpur, Malaysia. Top media institutions from seven ASEAN countries—Malaysia, Indonesia, Singapore, Thailand, the Philippines, Vietnam, and Cambodia—gathered in the Malaysian capital to gain insight on the Group’s strategic initiatives and growth outlook. B2B Cambodia was one of three media outlets invited from Cambodia

Leveraging ASEAN’s Regional Strength

Hong Cheap shared how CIMB’s regional footprint allows the bank to offer top-class cross-border services and business solutions under the tagline, Advancing Customers and Society.

“We have a strong network in ASEAN; CIMB is one of the largest banks in the region, with operations in seven countries. Malaysia, where our headquarters is based, is the largest, followed by Indonesia, Thailand, Singapore, Cambodia, Vietnam, and the Philippines,” he said. 

We are focused on four core propositions: Preferred Banking, cross-border trade, trade finance, and business matching. [Through our regional network], our CIMB Preferred and business customers in Cambodia, for example, can explore investment opportunities in Malaysia, Singapore or other ASEAN countries through CIMB, and vice versa.

Elaborating more on CIMB Preferred’s offerings, Cheap shared that customers in Cambodia can earn market-leading interest rates of up to 3.15 per cent, enjoy free outward telegraphic transfers of up to USD 10,000 per day to other CIMB countries in local currency, and access competitive cross-border services, including FX rates, remittances, and foreign currency deposit accounts.

CIMB Preferred’s customers also benefit from access to ASEAN airport lounges, CIMB Preferred Visa Platinum cards, and dedicated relationship managers at CIMB Preferred Centres.

The bank plays an active role in cross-border remittances, trade finance via Letters of Credit, and import-export business matching—particularly for Cambodian clients sourcing goods from other ASEAN countries.

Through its regional cross-border services, CIMB offers same-day outward telegraphic transfers across five ASEAN countries, giving businesses and individuals seamless financial connectivity.

Digital-First Strategy Over Branch Expansion

Addressing the bank’s growth trajectory in Cambodia, Cheap said CIMB is strategically focusing on sustainable digital development, rather than on rapidly expanding its physical branch network.

“Our market share is not big, but it is growing steadily. We want to grow slowly, but sustainably. In the short-term, we may not increase the number of branches, but we will invest more in digital products,” he explained.

The bank recently launched OctoBiz Light, a digital platform tailored for SME customers and individual businesses in Cambodia in June 2025, and is planning to launch a new version for Cambodia’s market in 2026, with more digital tools set to roll out over the coming year. 

“Today, customers no longer carry cash—they carry their phones, so digitisation will be a key enabler for our future growth,” said Cheap.

Supporting Cambodia’s SME Sector

CIMB Cambodia has worked with SMEs for over five years, and has also established partnerships with insurance companies and the Credit Guarantee Corporation of Cambodia (CGCC) to provide loans without requiring traditional collateral.

“We offer collateral-free loans, even higher-value loans compared to the value of [existing] assets. Some SMEs don’t yet have strong financial reporting, which is a challenge, but we’re working to close that gap through digital access,” said Cheap.

He added:

We haven’t yet reached the local level (i.e. branches across districts, communes, and villages). Most SMEs are located in these areas, so we haven’t connected with them yet, but we are focusing on our digital development to improve access, so SMEs don’t have to physically come to our branches and can connect with us via digital platforms instead.

When asked how SMEs can qualify for financing, Cheap outlined three key requirements: business registration, basic financial reporting, and a solid business plan.

“A loan is not a gift—it’s a debt. [SMEs] must assess whether the loan will truly help their growth,” he emphasised.

CIMB also supports SMEs engaged in import and export, helping them integrate into broader regional supply chains.

Corporate Social Responsibility and Green Finance

Beyond banking, CIMB Cambodia is also committed to social and environmental causes. Through its CSR initiatives, the bank has supported tree-planting activities with the Apsara Authority, officially launched the Angkor-CIMB Park at Angkor Archaeological Park in 2024, helped fund local hospitals and schools, and promoted green finance solutions, such as solar energy investments.

Internally, CIMB also invests in its employees through ongoing training programs, wellness activities, and staff sports initiatives. 

“We want our staff to be professional, but also have peace of mind,” said Cheap.

CIMB Cambodia – A Trusted Regional Partner

As CIMB Cambodia celebrates its 15th anniversary, Cheap affirmed that the bank continues to focus on professionalism, strong corporate governance, and digital transformation, all the while maintaining a non-performing loan (NPL) rate of under 3 per cent—one of the lowest in the Cambodian market.

“I still believe CIMB remains the preferred bank for many of our clients because of trust, professionalism, and our strong regional backing,” Cheap concluded.

Established in 2010, CIMB Cambodia currently operates 14 branches across the country—10 in Phnom Penh, and four in Siem Reap, Preah Sihanouk, Kampong Cham, and Battambang. The bank serves over 40,000 customers across commercial, corporate, and retail segments.