Phillip Bank Plc is a member of PhillipCapital, an integrated Asian financial house based in Singapore, but operational in 15 countries, including offices in Australia, Cambodia, China (and Hong Kong SAR), France, India, Indonesia, Japan, Malaysia, Singapore, Thailand, Turkey, UK, UAE, USA and Vietnam.
Phillip Bank Plc commenced business in Cambodia in 2009. In 2019, they merged with Lendahand's partner Kredit (an MFI focused providing financial services and training to low-income earners).
Phillip Bank's CEO, Ong Teong Hoon started working in the financial sector in 1977 and has been with the bank for 25 years, holding different positions in different countries. He is a graduate from the University of Singapore with a Bachelor of Business Administration and an Associate of the Chartered Institution of Bankers since 1978.
|Borrower||Philip Bank Plc|
|Head office||Phnom Penh|
|Founded||1 January 2009|
|Active on Lendahand since||14 March 2020|
Financial information per 2019-08-01
|Equity / total assets||18.82%|
|Write-off ratio last 12 months||0.00%|
|% investment amount in arrears (>90 days)||0.84%|
Cambodia has had a lot to endure over the last century. Ongoing wars led to uncertainty offering many opportunities for corruption. In the last decade the situation in Cambodia has calmed down. Economic growth has resulted in a gradual improvement of the situation. Still, with an average income of 300 dollars per person per year, Cambodia remains one of the poorest countries in the world. The majority of the Cambodian economy is based on the agricultural sector. Agriculture and fishing have always been of great importance for the self-sufficiency and domestic trade of the country. Rice, cassava, rubber, corn and pepper are the most common crops.
Most recently funded project
Phillip Bank 14 (KREDIT Cambodia)
With a loan of EUR 35,500 Phillip Bank (previously called Kredit Cambodia) will be able to provide working capital to 6 entrepreneurs, mostly farmers.
- Local partner investment
- 2 new jobs
- 30 people reached