SIEM REAP, Cambodia, Oct. 31 (Xinhua) -- The number of customers' deposit accounts at commercial banks and microfinance deposit-taking institutions (MDIs) in Cambodia had risen to 14.3 million in August, up 18 percent from 12.1 million at the end of 2021, a central bank official said on Monday.
"The number of customer's deposit accounts has increased significantly to about 14.3 million. Of which, 11.7 million accounts are in commercial banks and 2.6 million accounts are in MDIs," Rath Sovannorak, director-general of the National Bank of Cambodia (NBC)'s Banking Supervision, said in a speech on the ASEAN Savings Day.
He said the customers' deposits increased by 8 percent to 41.5 billion U.S. dollars in August from 38.4 billion dollars at the end of 2021.
In Channy, a board member of the Association of Banks in Cambodia, urged people to save their money in banking and financial institutions, saying that it is very safe and also earns competitive interest rates.
"Little saving is better than not," he said at the event. "Moreover, saving money in banking institutions has also contributed to socio-economic development."
With a population of 16 million, Cambodia currently has 58 commercial banks, nine specialized banks, and 86 microfinance institutions including five MDIs, with a total of 2,593 headquarters and branches as well as 4,219 automated teller machines (ATMs) throughout the country, according to the NBC. ■