safest bank here (in the event of economic collapse)??
- Bitte_Kein_Lexus
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Re: safest bank here (in the event of economic collapse)??
No, they'd just write it off. The guy was Kazakh btw...clutchcargo wrote:ABA is 100% owned by the National Bank of Canada after it bought out the Russian's 10% holding recently.
Does it make it any safer?
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- armchairlawyer
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Re: safest bank here (in the event of economic collapse)??
NBC would not be legally obliged to bail out ABA but there is a good chance that they would. The fact that they put their name on the ABA banners is encouraging. Krungsri and Mitsubishi do not put their names on Hatha.clutchcargo wrote: ↑Sun Oct 11, 2020 8:14 am ABA is 100% owned by the National Bank of Canada after it bought out the Russian's 10% holding recently.
Does it make it any safer?
Re: safest bank here (in the event of economic collapse)??
Just to clarify NBC (National Bank of Cambodia, i.e. the regulator/central bank) is not the same as NBC (National Bank of Canada) - the latter would likely resolve any issues due to international reputation, the former has already stated officially that it will not bail out failing banks or MFIs.armchairlawyer wrote: ↑Sun Oct 11, 2020 12:25 pmNBC would not be legally obliged to bail out ABA but there is a good chance that they would. The fact that they put their name on the ABA banners is encouraging. Krungsri and Mitsubishi do not put their names on Hatha.clutchcargo wrote: ↑Sun Oct 11, 2020 8:14 am ABA is 100% owned by the National Bank of Canada after it bought out the Russian's 10% holding recently.
Does it make it any safer?
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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Re: safest bank here (in the event of economic collapse)??
Emergency, portable, wealth in Cambodia has always been and remains, 24 carat gold (Meas Tuk Dorp) chains which can be sold as required, link by link.
Note that Cambodian gold is of a higher purity than Thai gold. See my posting on gold.
It is not without very good reason that the rich and powerful in Cambodia hold their real wealth "off-shore". Only their "Petty Cash" is kept locally.
OML
Note that Cambodian gold is of a higher purity than Thai gold. See my posting on gold.
It is not without very good reason that the rich and powerful in Cambodia hold their real wealth "off-shore". Only their "Petty Cash" is kept locally.
OML
- Phnom Poon
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Re: safest bank here (in the event of economic collapse)??
i think that's partly to legitimize it, and partly to keep it safe should they fall from grace with the leadershipOt Mean Loi wrote: ↑Sun Oct 11, 2020 2:28 pm It is not without very good reason that the rich and powerful in Cambodia hold their real wealth "off-shore". Only their "Petty Cash" is kept locally.
not just because of the weak banking regime
.
monstra mihi bona!
Re: safest bank here (in the event of economic collapse)??
Yes.Spigzy wrote: ↑Sun Oct 11, 2020 1:23 pmJust to clarify NBC (National Bank of Cambodia, i.e. the regulator/central bank) is not the same as NBC (National Bank of Canada) - the latter would likely resolve any issues due to international reputation, the former has already stated officially that it will not bail out failing banks or MFIs.armchairlawyer wrote: ↑Sun Oct 11, 2020 12:25 pmNBC would not be legally obliged to bail out ABA but there is a good chance that they would. The fact that they put their name on the ABA banners is encouraging. Krungsri and Mitsubishi do not put their names on Hatha.clutchcargo wrote: ↑Sun Oct 11, 2020 8:14 am ABA is 100% owned by the National Bank of Canada after it bought out the Russian's 10% holding recently.
Does it make it any safer?
The National bank of Cambodia is a government institution, governing all banks in Cambodia. The National bank of Canada is a private company and as such not a national bank as the (confusing) name implies.
ABA and ACLEDA both have a (pretty bad) B+ rating, but ACLEDA's track record is way longer than ABA's, so I'd choose ACLEDA over ABA when it comes to safety.
However, I never put more than 5k in any bank in Cambodia. When I transfer money in, for instance 10k, I spread it out over three different banks to reduces risks a little bit.
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Re: safest bank here (in the event of economic collapse)??
I tried to send this yesterday but for some reason it wasn't sent.armchairlawyer wrote: ↑Sat Oct 10, 2020 7:52 pm
5. The MDIs in Cambodia have very low rates of non-performing loans but very high ratios of loans to deposits. The commercial banks in Cambodia have higher NPLs but lower loan to deposit ratios. So, I would argue the risks are similar across the two categories. Except see number 4 above which applies to some of the banks but not to the MDIs.
ACL, where do you find the data for non-performing loans on banks and MFIs in Cambodia (I assume MFIs=MDIs)? And also loan to deposit info. And do you think that this information is accurate?
A friend recently claimed that many people are not able to repay their loans currently, but also that the Cambodian government has asked the banks to extend people's repayment times.
Re: safest bank here (in the event of economic collapse)??
I think an MDI as apposed to an MFI is one of the four (five?) that can take deposits.
Don’t listen to Chinese whispers.
- armchairlawyer
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Re: safest bank here (in the event of economic collapse)??
Yes, the MDIs are the MFIs that are permitted to take deposits. The MFIs get their funding from borrowing from bigger parties.
The MDIs are gradually converting into banks, Hatha did so recently.
I' don't have the links to hand but you will find the data on the NBC website. Annual Report? Or annual review?
You can also read the Annual Reports of each bank/MDI. They usually come out in August of each year.
Meanwhile this is well worth a listen.
https://thediplomat.com/2020/09/cambodi ... ed-waters/
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