KUALA LUMPUR (Oct 31): Public Bank Bhd said today its wholly-owned subsidiary Cambodian Public Bank Plc (Campu Bank) signed a memorandum of understanding (MoU) with China Construction Bank (M) Bhd (CCBM) to jointly develop business opportunities across Cambodia, Malaysia and China.
In a statement today, Public Bank said the MoU signing ceremony was held last Thursday (Oct 24) at Menara Public Bank here.
“The signing of the MoU represents an extension of the successful business collaboration between Public Bank and China Construction Bank which commenced since 2016 for cross border financing, financial advisory, remittance, client credit assessment and referrals.
“Campu Bank is a wholly-owned subsidiary of Public Bank which is the third largest bank in Malaysia with overseas operations in the Kingdom of Cambodia, Vietnam, Laos, Sri Lanka, Hong Kong and Mainland China. Campu Bank with a strong presence in the Kingdom of Cambodia since 1992 has grown into one of the leading foreign-owned banks with 31 branches and has contributed significantly to the development of the financial industry in the Kingdom of Cambodia,” Public Bank said.
Meanwhile, CCBM is a tier-one wholly-owned subsidiary of China Construction Bank Corp, which is the world’s second largest bank in terms of total assets, according to Public Bank.