Following approval from the apex bank, Hong Leong Bank Cambodia (HLBC) with a capital of MYR119.25m ($37.4m) will begin its operation from 8 July this year, as confirmed by the bank to the country’s stock exchange.

On 18 February 2013, the Cambodian Ministry of Commerce granted a certificate of incorporation for the establishment of HLBC.

In a statement, the bank said, "With the establishment of a bank in Cambodia, HLB would contribute to the banking sector as well as the broader economy of Cambodia."

The Cambodian venture will be its second overseas operation, as the lender first forayed in Vietnam at the end of 2008, by incorporating a subsidiary in the country.

The bank also has a minority stake in China-based Bank of Chengdu, and manages wealth management and global markets services in Singapore and Hong Kong.

Today, Hong Leong Bank has more than 300 Branches, sales and business centers in Malaysia, Singapore, Hong Kong and Vietnam.