JB Financial Group Strengthens Marketing to Localize Cambodia
JB Financial Group Strengthens Marketing to Localize Cambodia
  • Jung So-yeon
  • 승인 2019.09.24 12:47
  • 댓글 0
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PPCBank, a grandson of JB Financial Group, has set up an outdoor advertisement in Korean in Siem Reap area. (Image = JB Financial Group)

 

PPCBank, a grandson of JB Financial Group (Chairman Kim Ki-hong), has stepped up marketing in Cambodia to strengthen its brand awareness.

PPCBank recently introduced an outdoor advertisement in Korean in Cambodia's Siem Reap area. PPCBank is attracting attention by marking "Welcome" and "Jeonbuk Bank" in Korean in outdoor advertisements.

PPCBank was acquired as a subsidiary of Jeonbuk Bank in 2016 and succeeded in localization, which has been growing by double digits every year.

In addition, PPCBank recently decided to support all of the Cambodian taekwondo athletes' training camp in Korea. PPCBank plans to select Cambodian professional billiard player as its honorary ambassador and continue to promote sports marketing in search of relations between Cambodia and South Korea.

PPCBank is targeting Cambodia's financial market through localization strategies with full support from Jeonbuk Bank. Of the total employees, 98 percent are locals, and they focus on targeting small and medium-sized businesses and middle-income earners at 19 stores.

In June, PPCBank signed a business agreement with the International Finance Corporation to provide $30 million in loans to Cambodia's small and medium enterprises over the next five years.

It also developed mobile banking in Cambodia with differentiated digital technology and launched corporate financial Internet banking.

Under such localization strategies, the bank posted 19 billion won in interest profit in the first half of this year, up 32.7 percent from 14.4 billion won in the same period last year. Its first-half net profit surpassed 10 billion won for the first time since the acquisition.

"The fact that we have actively carried out differentiated marketing activities with thorough localization strategies has been the main reason for improving the PPCBank's recognition," said Shin Chang-moo, president of PPCB Bank. "By strengthening our localization strategy, we will expand our channels and expand retail operations to become one of the top three banks in Cambodia."


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