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||Phillip Bank Plc|
|Head office||Phnom Penh|
|Founded||1 January 2009|
|Active on Lendahand since||14 March 2020|
Financial information per 2021-06-30
|Write-off ratio last 12 months||0.17%|
|% investment amount in arrears (>90 days)||2.53%|
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.
Last funded project
With a loan of EUR 41,000 Phillip Bank (before Kredit Cambodia) will be able to provide working capital to 6 entrepreneurs, so they can further expand their companies.