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Credit Agricole quits Cambodia

Credit Agricole quits Cambodia

(Cambodia) - French investment house Credit Agricole Indosuez has become the latest foreign bank to quit Cambodia, with the closure of its local banking operations. The announcement was made by Cambodia's central bank, which told local press the French bank was quitting for "purely strategic reasons." The operations will be transferred to a local state-owned bank.

London-listed Standard Chartered has already quit Cambodia, citing poor local economic growth prospects and a weak global economy.
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