November 18, 2011

Cambodia sees 13 pct growth in ATMs in 10 months


PHNOM PENH, Nov. 18 -- The number of new automated teller machines (ATMs) installed in Cambodia's commercial banks had increased by 13 percent to 566 sets in the first ten months of this year from 501 sets at the end of last year, according to the latest figure from the National Bank of Cambodia (NBC) on Friday.

Nguon Sokha, the NBC's director general, said the growth was thanks to the launches of new banks and the operational expansion by the existing banks.

"In the context of free market competition, banks have upgraded their products to satisfy their customers' needs and ATMs are an easier way for the bank service users," she said.

"The ATM growth mirrors the progress in the banking industry."

The country has 29 commercial banks. ATMs are mostly found installed by large banks only and most of them are installed in Phnom Penh, the capital of Cambodia.

So Phonnary, vice president of the country's largest bank, ACLEDA, said that the bank has installed 21 ATMs in the first 10 months of this year, bringing the total number to 133.

She added that the majority of the ATMs is located in Phnom Penh.

Cambodia's banks introduced ATMs in July 2004, firstly by Canadia Bank.

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