Big Thai banks are flexing their muscles in neighbouring countries to be first movers and take advantage of the common market of the Asean Economic Community (AEC) in late 2015.
Bangkok Bank (BBL), Thailand's biggest lender by assets, is seeking approval from Cambodian authorities to reopen a branch in Phnom Penh after an absence from the country for several years, said executive vice-chairman Deja Tulananda.
BBL's move is based on high growth potential in Cambodia, even though its economy is small compared with other Asean members. Corporate banking services for Thai, local and foreign customers are the key focus for BBL in Phnom Penh.
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