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BSP Cambodia plans expansion

Bank South Pacific is expected to reap more investment opportunities from its Cambodia business.

BSP Cambodia finance manager Huoy Aing told the Post-Courier on Saturday the country has a growing market with the potential for future expansion once the business fully satisfies its customers in Phnom Penh.

Aing said their main selling products include automobile and heavy equipment, but is also looking at financing agricultural equipment to their customers.

She said their focus at the moment is to grow the Phnom Penh market before moving into the other areas in Cambodia, and the region.

“It is a great opportunity to have BSP come and invest in Cambodia, especially when the market is growing. We want BSP to grow and expand more in the future,” she said. Operational risk compliance manager Boromey Im said BSP Finance Cambodia is also looking at providing a range of products.

Im said they are now the middle bank who is providing convenient services for its customers.

“With the new market with BSP we have different products and these products have a different kind of customer range so now it can service all the customers in Cambodia.

“We want to perform well in Cambodia before we look at other markets in Cambodia,” she said.

Im said they now have a customer base of 400 but will grow this as the business continues to attract more customers.

“Right now, automobile is the best product for us because a car is the most important asset for families in Cambodia to build their social status.

Automobile is a growing market for us and we are banking on our existing customer networks to bring in more customers, as a result, we need to satisfy our existing customers,” she said.

Chief executive officer Robin Fleming said: “It gives us the opportunity to see if there’s a real prospect to deliver more banking services to the rural retail population of PNG.

“If the business grows, we’re talking about foreign exchange which gives US dollars dividends which overtime, will come to PNG and we do have a retail population in PNG.

“This is a start cannot happen overnight… there will be a lot of opportunities and development prospects in Cambodia, Loas, Myanmar and we need to realise that PNG is our home and we can never neglect that by delivering services in the country.”

Meanwhile, there are 220 country heads and executives from Bank South Pacific across the Pacific, including Cambodia, that are attended a two-day leadership forum in Port Moresby.

This forum is an annual event which brings together all branch managers, team leaders and country heads for a two day conference.

This year discussions in the forum were centered on the theme; “Our Payments Capability, Our Digital Future.” Chief executive officer Robin Fleming said the leaders are in the country to discuss the bank’s strategy for 2018 and how it can improve its digital services by delivering banking services effectively to its customers.

Fleming said since 2013, they have realised that they are developing business leaders as a result have included delegates from Fiji, Cook Islands, Samoa, Tonga, and Vanuatu to Solomon Islands and now Cambodia.

“Once a year, we come here and connect to some of the social bonuses because if you can connect socially it makes it far better from an engagement perspective.

We all get together, we build relationships, as there can always be communication issues getting the message to some so we use this as an opportunity to get all these problems and issues identified and agreeing on how we can resolve and solve those problems from re-occurring in future particularly to serve our customers completely,” Fleming said.

The forum also saw the bank recognising its 25 and 40 years long service staff.

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