On February 23, KB Bank held a grand opening event for KB PRASAC Bank in Phnom Penh, the capital of Cambodia.
The grand opening event was held under the theme of "Two Worlds into One," which signifies the coming together of two countries, financial companies, and cultures.
About 700 people attended the event, including Chea Serey, Governor of the Bank of Cambodia, Chring Botum Rangsay, Ambassador to the Republic of Korea, representatives of Korean companies in Cambodia, and KB PRASAC Bank employees. In addition, key executives of KB Financial Group, including Yang Jong-hee, Chairman of KB Financial Group, and Lee Jae-geun, President of KB Bank, also attended the event.
"We will give our customers the best experience and grow together as a recipe for balanced regional development and coexistence in Cambodia," said Chairman Yang. "We will put our customers first and provide optimal financial services in line with their life cycle to become a lifelong financial partner of Cambodians."
All employees attending the event chanted KB PRASAC Bank's new slogan, "Your Lifetime Financial Partner," to signify their determination to become the bank that Cambodians trust the most and provide a better tomorrow for Cambodians.
"KB PRASAC Bank is Cambodia's fourth-largest commercial bank and will expand its business base based on its 190 sales networks and more than 5,000 sales personnel," said a KB official. "We will actively promote low-cost deposits and expand QR payment market share to narrow the gap with leading banks, and in the mid- to long-term, we will lead the Cambodian financial market by internalizing KB's advanced digital capabilities."
KB first entered the Cambodian market in 2009 with the establishment of Kookmin Bank Cambodia. In 2021, it acquired a 100% stake in PRASAC Microfinance (MFI) and made it a wholly owned subsidiary. In July last year, KB obtained a license from the National Bank of Cambodia to launch an integrated commercial bank of PRASAC MFI and KB Cambodia, and in August of the same year, KB PRASAC Bank received final approval from the Ministry of Commerce of Cambodia.
