Cambodia's Central Bank Revokes Licenses of Three Banks, Orders Liquidation

The National Bank of Cambodia has decided to revoke the licenses and order the liquidation of three banks: CCYU Commercial Bank Plc, HENG FENG (CAMBODIA) BANK Plc, and XHX (CAMBODIA) BANK Plc. This action is in accordance with current laws and regulations. The National Bank of Cambodia has appointed Richs & Partners Company Limited as the liquidator for CCYU Commercial Bank Plc, and Bakeer Tilly (Cambodia) Co., Ltd. as the liquidator for HENG FENG (CAMBODIA) BANK Plc and XHX (CAMBODIA) BANK Plc. These appointed companies will proceed with the liquidation procedures as per the law and existing regulations, effective from their appointment date. Customers with deposits in these three banks are advised to prepare their documents to request withdrawal of their deposits, which will be processed according to the priority order stipulated in the Law on Banking and Financial Institutions. Borrowers from these banks are required to continue fulfilling their existing repayment obligations. For any inquiries related to the above liquidation, customers and relevant parties can contact the liquidators directly at the following addresses and phone numbers: 1/ For CCYU Commercial Bank Plc, contact Richs & Partners Company Limited at No. 2283, Street 1970, Poung Peay Village, Phnom Penh Thmey Commune, Sen Sok District, Phnom Penh. Phone: 023 230 333/095 351 086 or email: [email protected]. 2/ For HENG FENG (CAMBODIA) BANK Plc and XHX (CAMBODIA) BANK Plc, contact Bakeer Tilly (Cambodia) Co., Ltd. at B3-071 & B3-072, Tonle Bassac Commune, Chamkar Mon District, Phnom Penh (Koh Pich City). Phone: 023 987 100 or email: [email protected]. The National Bank of Cambodia and relevant ministries/institutions will continue to closely monitor the liquidation process to protect the interests of depositors and all customers.