Can you present us your bank since its
formation and its main developments ever
since?
SCB started in 1993 with the aim of providing
all the commercial banking services to Cambodians
and any foreigner that come to invest in
Cambodia. When we first arrived in this
country, Cambodians were used to buy everything
from overseas with cash. Throughout the
years we tried to teach them how to use
letters of credit; presently most of the
trade with overseas companies is based on
the use of a letter of credit. This is how
we started our operation here.
Can you show us in figures how the bank
has evolved in those 10 years?
We started with about 40 staff in 1993,
and now we have about 80 staff working with
us in four offices: 3 in Phnom Penh and
1 in Siem Reap. Our customer's deposits
have also increased substantially over the
years. The Bank is locally registered in
Cambodia but is fully owned by Singaporeans.
In terms of profitability how is the
bank managing throughout the years?
Over the last few years the profitability
has not improved that much, mainly due to
the fact that the bank has engaged in new
investments, which has taken a bit of our
resources. Presently, we are investing in
a VISA credit card system which is EMV chip
based and it is going to be among the first
in Indochina and one of the few in Southeast
Asia to issue an EMV chip-based credit card.
Next to this VISA Card project, what
is your main development strategy?
The credit card project is just one of
the few projects that we have engaged. After
it is implemented, we are studying the possibilities
of an ATM network and also to introduce
Internet banking. For those using the credit
cards, we are also looking at the introduction
of an SMS system, which works by sending
an SMS message to the cardholder every time
a transaction is being made with the card.
What can you tell us about your expansion
plans, are you going to concentrate your
efforts locally or are you looking for an
internationalization of the bank?
Presently, we are concentrating in the expansion
within the country to reach the provinces.
As of today, there are not yet plans for
international activities, at least not within
the next three years. Possibly in the long
term, we may consider expanding to overseas.
Who are your main customers and what
is your positioning within the Cambodian
banking sector?
We have both local customers and foreigners,
including some NGO's. We are not targeting
an specific group, more towards the general
public.
What would you say is your competitive
advantage? Why would someone want to become
a customer of SBC Bank instead of one of
the other commercial banks in Cambodia?
I think customer service plays a very important
part, as well as the efficiency and speed.
By speed, I mean how fast you can attend
to the customer when he comes to make a
deposit or withdrawal. These are very important
to determine the quality of service, and
we definitely have an advantage on this
area.
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As president and shareholder of the
bank can you tell us what are your plans
in terms of partnership?
We will look into all kinds of possibilities
to make the Bank grow to a bigger size,
whether it is a partner from overseas or
a local one, we just have to have the same
kind of goals and foresight. For the time
being, there is nothing in this area but
we are open to any opportunity.
What are, according to you, the main
advantages and constrains of the banking
sector in Cambodia?
I think the Cambodian banking sector is
still at its infant stage as it started
in 1992, which is 11 years ago. It does
have a long way to go, but in the last five
or six years, many changes have been made.
Regulations and rules have changed. There
are certain international standards being
adopted. And I foresee there are many more
good things coming.
Our readers are always interested in
the background of the managers and decision
makers of the country, can you give us a
brief historic of your professional background
and your greatest satisfaction while working
in Cambodia?
Before I came to Cambodia, I was working
in the financial sector, not in banking
though, I had a main project in Malaysia
to start a membership resort. My greatest
satisfaction working here is to see the
Bank grow and the staff becoming more knowledgeable
about banking.
You just mentioned that you were working
in the financial sector but not specifically
in banking. What made you decide to come
to Cambodia and start a bank?
When I came in 1992, I saw there was a
lot of potential and opportunities. So,
I decided to come here instead of continuing
the Malaysian project I was working on at
that time. That is how we started the bank.
In the last 10 years, we have seen the country
going through remarkable changes most of
them for the better. We are hoping for this
continued change, which will bring Cambodia
to be known by other people in the world.
As a businessman, banker and investor
in Cambodia, what would be your final message
for all the people interested into coming
to this country?
There are definitely opportunities to invest
in Cambodia. Of course, there are certain
difficulties. The most important thing is
to know the culture. When you understand
the people, then you will be able to smooth
out those difficulties. My advice is to
come and have a look by themselves. Papers
and magazines don't always reflect the reality
as it actually is. You never get the real
picture until you come and see it for yourself.
Look at me, I have been here for the last
11 years. They can come to see me or other
people from the Government. They are always
welcoming potential investors.
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