Tuesday, December 30, 2008

Look at Cambodian Banks' Rate!

Fixed Deposit Interest Rate (26 December 2008)
Name of Banks Interest Rate
3 Months 6 Months 12 Months
USD
Riel
USD
Riel
USD
Riel
ACLEDA 5.50% 6.00% 6.50% 8.00% 7.50% 9.50%
ANZ Royal 4.55% 4.60% 5.25% 5.55% 5.40% 6.70%
Cambodia Asia Bank 5.50% N/A 6.50% N/A 7.50% N/A
Cambodia Comercial Bank 3.00% 3.00% 3.25% 3.25% 3.25% 3.25%
Cambodia Mekong Bank 2.50% N/A 3.25% N/A 3.50% N/A
Cambodia Public Bank 5.25% N/A 6.25% N/A 7.25% N/A
Canadia 5.00% 5.00% 6.00% 6.00% 7.00% 7.00%
May Bank 2.00% N/A 2.50% N/A 3.25% N/A
SBC Bank 3.00% N/A 3.50% N/A 4.50% N/A
Vattanac Bank 4.25% N/A 5.25% N/A 6.00% N/A

Source: The Phnom Penh Post, Monday, 29 December 2008

Yet the capital inflow remains very low? The rate is very high compared to Japan's rate!
Seems like Cambodian banks havent earned the trust from investors. With such a high deposit rate, Cambodia should attract many investors, but it did not, even though the local banks were ranked B+ by S&P last year.