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Monday, April 22, 2019

France’s BRED Bank the first European bank to open in Cambodia since 2004

Homepage Forum Cambodia Forum Cambodia in the News France’s BRED Bank the first European bank to open in Cambodia since 2004

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    BRED Bank, founded in 1919, is the first European bank to open its doors in Cambodia since 2004. BRED is a commercial bank, part of the  BPCE group, which is the second largest banking group in France with 8200 branches nationwide. The abbreviation BRED stands for “Banque Régionale d’Escompte et de Dépôt”.

    BRED Bank officially opened its first branch in Phnom Penh on March 2nd, 2017 and plans to open 14 more branches in Cambodia over the next 3 years. It will have to compete with Crédit Mutuel Kampuchea (CMK), another French Bank which entered the Cambodian market in 2004. CMK currently has 20 branches in Cambodia. Siem Reap’s CMK branch is located on Tep Vong Street.

    Prime Minister Hun Sen received BRED Group CEO Olivier Klein for its official launch on March 2nd.

    Prime Minister Hun Sen and CEO Olivier Klein meet for BRED Bank's official launch in Cambodia

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