2023 marks a decade of our operations in the Kingdom of Cambodia, Chief Bank has unveiled its new logo, a move that signifies more than just a corporate rebrand—it announces the bank’s readiness to embrace an era of digital-first banking. The fresh, dynamic logo is part of a strategic initiative to resonate with Cambodia’s younger, tech-savvy generation as Chief Bank now commences its eleventh year in the industry; the significance of the new logo as a representation of an institution re-aligning itself with the forward-thinking and digitally native customers that are increasingly becoming a focal point of the wider financial sector in Cambodia. Our new emblem is a visual testament to our strong commitment to innovation and our readiness to cater to the digital era, it is not just a change in design but a signal to the market that we are evolving with the changing needs of our clients, particularly the dynamic young generation that is poised to lead Cambodia’s future.

Since launching in the Cambodian market since 2013, Chief Bank has matured from a specialized bank to one of the full-pledged commercial banks in 2018. Our journey has been marked by an impressive resilience in the face of global and local economic fluctuations; we deepened our relationships with existing clients and saw opportunity for new relationships. We achieved significant growth by attracting hundreds of new clients, and reached the growth of its total deposits, now exceeding $159 million which is 17% higher than that of December 2022, its total assets amounting to $243 million which grows more than 10% and its interest income of over 18 million more than 17% increasing as compared to year 2022 etc, we deliver stable growth and returns while preserving strong liquidity coverage ratio and capital positions, although clearly impacted by credit challenges, crunches and cost of funding. This financial solidity is a direct result of the bank’s strategic planning and its responsive approach to market demands.

Our bank’s strategic evolution, emphasizing the values that have steered its course, has built a foundation of trust with our customers through a dedication to professional ethics, integrity, prudence, and transparency. These are not just principles but the pillars that have supported our decade-long journey, our commitment to keeping pace with the latest in financial technologies has led to strategic partnerships with technology frontrunners from Hong Kong, and India etc. These partnerships have been crucial in ensuring that the bank’s technological infrastructure remains leading-edge and efficient, a necessity for serving the new generation of customers.

Chief Bank looks to the horizon and unveils plans to reinforce corporate branding, adhere strictly to compliance standards, and extend their presence in key strategic locations within Phnom Penh---having high purchasing power. The bank also shared wisdom for emerging talents in the banking industry, highlighting the importance of continuous learning, a robust track record of achievement, and maintaining integrity.

The rebranding initiative marks a significant pivoting point for Chief Bank as it transitions into its second decade of banking operations. The new logo not only reflects a youthful and innovative spirit but also stands as an emblem of Chief Bank’s relentless pursuit of being a digital-first banking institution that can effectively respond to and meet the distinctive banking needs of the Cambodian youth.

Chief Bank’s decade-long story offers a profound narrative of growth and tenacity within a challenging economic environment post COVID-19. It is a narrative that underscores the power of customer trust, strategic vision, and embracing digital technology in the competitive banking sector.

As the bank is venturing into year 2024 as its 11th year, the new logo is not just an aesthetic update but a declaration of Chief Bank’s future-oriented strategy and its ambition to continue being an integral part of Cambodia’s financial landscape, resonating particularly with the aspirations of the next generation.

Last but certainly not least, on behalf of top management of Chief Bank Plc, I would like to sincerely express my sincere thanks to our clients for selecting Chief (Cambodia) Commercial Bank Plc to be their long-term business partners. With this, I would also like to thank our dedicated colleagues for their professionalism, ethics, and tremendous efforts to maintain our operational resilience, our respectful founder and chairman Mr Chau, Board members, INED, the leadership teams, all officials of the National Bank of Cambodia (NBC) and relevant local authorities, for their respective on-going unwavering supports given to me in fulfilling my position as CEO. I am proud of what we have achieved together in 2023, and I look forward to the opportunities that 2024 will bring.

Together, we are confident that we are delivering a better, innovative bank, a bank of first choice, a bank that our employees, customers and stakeholders can genuinely trust.

We look forward to welcoming and best serving you.

Sincerely yours,

Dr. Morarith SOEUNG