PHNOM PENH: Wing Bank, a leading financial institution in Cambodia and part of the Royal Group of Companies, has announced that it has received approval from the National Bank of Cambodia to increase its capital by $88 million.
This significant investment, comprising $60 million in core capital and $28 million in supplementary capital, underscores Wing Bank’s commitment to strengthening its financial foundation and driving its ambitious growth strategy.
“This capital injection will further solidify our position as a trusted and forward-thinking financial partner for individuals and businesses alike,” said Neak Oknha Kith Meng, Chairman of the Board of Directors of Wing Bank and CEO of the Royal Group of Companies. “The growing economy and the optimistic outlook for the future have played a key role in our decision to initiate this move.”
The increased capital will enable Wing Bank to expand its lending capabilities, providing crucial financial support to small and medium-sized enterprises (SMEs), corporate clients, and individual customers. This expansion will play a vital role in stimulating economic growth and creating opportunities for businesses and individuals across Cambodia.
In addition to bolstering its operational capacity, the capital increase will also have a direct positive impact on local communities. By extending its financial services to underserved areas, Wing Bank will empower more individuals and businesses with access to banking, digital financial tools, and credit facilities. This initiative will promote greater financial literacy and inclusion throughout the country.
Wing Bank has experienced remarkable growth in recent years, solidifying its position as a key player in Cambodia’s dynamic banking sector. This latest capital injection reaffirms the bank’s dedication to innovation, customer-centric solutions, and its contribution to the overall economic development of Cambodia.
About Wing Bank
Wing Bank is a leading provider of innovative financial services in Cambodia, committed to driving financial inclusion and empowering individuals and businesses. With a strong focus on digital solutions and customer satisfaction, Wing Bank offers a comprehensive range of banking products and services to meet the evolving needs of its diverse clientele. As part of the Royal Group of Companies, one of Cambodia’s largest conglomerates, Wing Bank is well-positioned to contribute to the nation’s economic growth and prosperity.