Cambodian private bank has eyes on Myanmar

YANGON—ANZ Royal Bank, the third largest private bank in Cambodia, has held discussions with the director general of the Directorate of Investment and Company Administration (DICA) regarding the bank’s possible investment in Myanmar’s banking and financial sector, according to the DICA.

At the meeting, held on Monday in Nay Pyi Taw, the two sides discussed rules and regulations of the new investment law and business affairs.

This was the second meeting between the ANZ Royal Bank and DICA officials from the DICA. The two parties first met on June 3 this year.

Established in 2005, ANZ Royal bank is based in Phnom Penh, Cambodia. It has opened 23 branches and operates banking and financial services in 32 countries including the U.S., Germany, Malaysia, Singapore, India, Thailand, Japan, Korea and Vietnam.

The bank is a joint venture of Australia’s ANZ and Cambodia’s Royal Group Company (RGC). It also offers an institutional team to assist multinational businesses operating in Cambodia.

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/4334-cambodian-private-bank-has-eyes-on-myanmar