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Cambodia offers great potential, ANZ says

Cambodia offers great potential, ANZ says

(16 October 2006 – Cambodia) ANZ has used the Australian visit of Cambodian prime minister Hun Sen to talk up the opportunity in the South East Asian country. Speaking at the Business Investment Luncheon in Melbourne attended by the Cambodian delegation, ANZ chief executive John McFarlane said Australia’s trade and investment relationship with Cambodia had been growing but had the potential to be much larger.

"The success of ANZ Royal in its first year of providing banking services in Cambodia is an example of the business opportunities available to Australian businesses in Cambodia," he said.

ANZ established its joint venture with Cambodian telco Royal Group in 2004.

"ANZ Royal is now the fastest growing bank in Cambodia and the number two in deposit market share. We have seven full service branches, the widest ATM network in the country, and more than 20,000 customers," McFarlane said.

ATM opened the first ATMs in Cambodia through an alliance with Caltex and Total service stations, and said it would establish its ANZ Royal Internet Banking service for personal and business customers and enable mobile phone top ups through its ATM network in association with Mobitel.

According to ANZ’s report Cambodia Economic Overview, bilateral trade between Australia and Cambodia was set to exceed A$56 million this year.
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