Bank loans improve the real estate industry
Bank customer credit in Cambodia reached $ 37.3 billion in 2020, an increase of 14.8%. More than 30 percent of that has been allocated to the construction and real estate sectors, according to a recent report by the National Bank of Cambodia (NBC).
The same report also added that bank credit to the construction sector was 9.2%, real estate 8.5% and mortgages 12.8%.
At the end of 2020, active assets of the banking sector in Cambodia reached $ 59.5 billion, while deposits were recorded at $ 33.8 billion, an increase of 15.7% and 15.4 %, respectively.
Cambodia’s banking and microfinance institutions were also doing well in ensuring the security of their credit. Although non-performing loans increased slightly by 2.7% for banks and 1.8% for microfinance institutions, rates remain low and manageable.
Given the pandemic, restructured loans in 2020 have grown to more than 280,000 accounts, or the equivalent of $ 4.2 billion. However, the number of transactions fluctuated from month to month depending on demand and economic conditions.
Overall, according to the report, Cambodia’s banking and microfinance sectors remain robust amid the pandemic. However, NBC also foresees other risks that could potentially affect the banking sectors.
They include the protracted pandemic, slow economic growth in the region and around the world, protectionism, climate change, rising family indebtedness, a slowdown in tourism and most importantly any downward trend in tourism sectors. construction and real estate.
The World Bank recently forecast that Cambodia’s economy will grow by 4% in 2021, while the Asian Development Bank positively forecasts that growth will rebound by 5.4% in 2021.
The Peak is a 55 story luxury retreat. It brings everyday life to a whole new level with state-of-the-art homes, shops, restaurants and offices within easy reach of the prestigious and famous Shangri-La Hotel, home to welcoming restaurants, bars and ballrooms.
There is no such diverse development as there is nowhere else.
The Peak, made up of two towers of around 500 units each, stands out with its eye-catching bronze cladding and attention to detail inside.
It is strategically located in the heart of Phnom Penh, facing the Mekong River and just 10 minutes from the popular Bassac Lane, which is home to a vibrant variety of bars, clubs and restaurants.