Financing Cambodia's women entrepreneurs and SMEs

Canadia Bank to focus on financing women business owners

The Canadia Bank has recently forecast a two-digit growth rate for both loans and deposits as it focused more on financing the country's women business owners and small and medium enterprises.
Canadia Tower owned by Canadia Bank

Canadia Bank CEO Raymond Sia told journalists at the ASEAN banking conference, recently held in Phnom Penh, that, "As a bank, we really see a double growth rate for both loans and deposits for the years to come, and that's what we are working closely with our colleagues to ensure that the growth will continue."

Canadia Bank has provided financing to all sectors, Mr. Raymond Sia added, but we would focus more on financing women business owners and small and medium enterprises in the future. 

"It is the bank's main foucs for the next three years to make our small and medium enterprises prosper, to ensure that we provide financial access to small and medium enterprises because, these days, I think that many small and medium enterprises have yet to get access to proper financing," said Mr. Raymond Sia.

Mr. Raymond Sia said Canadia Bank has been working closely with small and medium enterprises and Cambodia Women Entrepreneurs Association (CWEA) to provide them with financing access. 

When asked by a journalist why he was so optimistic about growth at the time that the European Union warned of a possible loss of trade preference EBA for Cambodia, Mr. Raymond Sia responded that, "We are still cautiously optimistic. We are really optimistic as I said earlier thanks to business enabling policies issued by the government. We are cautiously optimistic that Cambodia's economy will continue to grow."   


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