KB Kookmin Card Opens 3rd Local Branch 'Dangkao Branch' of Cambodian Subsidiary

Expectations for Demand in Mortgage Loans and Corporate Operating Funds

On the 1st, at the opening ceremony of the Dangkao branch of Cambodia's local corporation 'KB Daehan Special Bank' held in Phnom Penh, Cambodia, Gong Sang-yeon, head of KB Daehan Special Bank's corporation (fourth from the left), and Chom Mulselei, manager of the Dangkao branch (fifth from the left), are taking a commemorative photo with the branch staff.

[Asia Economy Reporter Ki Ha-young] KB Kookmin Card held an opening ceremony for the Dangkao branch, the third branch of its local subsidiary KB Daehan Special Bank, in Phnom Penh, Cambodia on the 1st.

KB Daehan Special Bank, launched in 2018 as KB Kookmin Card's first overseas subsidiary, has been rapidly expanding its local business network and infrastructure by consecutively opening branches, starting with the Sen Sok branch in February last year, followed by the second branch, Tsuba Ampor branch, earlier this year, and now the third branch.

The newly opened Dangkao branch is located in an area with industrial complexes and residential complexes in the southwestern part of the capital Phnom Penh. It is expected to meet the demand for mortgage loans from homeowners as well as operational funds from companies located in the industrial complexes. Additionally, the branch space is designed to serve as an alternative workplace for the head office in case of emergencies such as COVID-19, and it can also be utilized as an advanced business base for the southwestern outskirts of Phnom Penh.

At the newly established branch, the local subsidiary will conduct all business activities possible for a special bank, including ▲real estate secured loans ▲new and used car installment financing ▲credit cards. The branch will also operate with the same integrated sales and screening functions and internal control processes that have proven efficient at the first and second branches.

A KB Kookmin Card official stated, "Despite the impact of COVID-19, the local subsidiary in Cambodia has continued steady and sustainable growth, becoming the number one in loan assets among Cambodian special banks in the first half of this year, based on the stable business performance of existing branches."

This content was produced with the assistance of AI translation services.