85,000 Residents in Preah Sihanouk Province Owe More Than $1.33 Billion to Banks and Microfinance Institutions

PHNOM PENH: According to a report by Credit Bureau Cambodia, as of the end of 2023, approximately 85,000 residents of Preah Sihanouk province had credit from banks, microfinance institutions, leasing companies and rural credit institutions, with the total amount exceeding US$1.33 billion.

According to the report, Prey Nob district in Preah Sihanouk province had the highest number of residents using credit or borrowing from banks and microfinance institutions, at more than 40,000. It was followed by Preah Sihanouk city, with more than 34,000. Koh Rong city had the fewest residents borrowing from banks or microfinance institutions, with just 226.

By loan amount, residents of Preah Sihanouk city had borrowed the most from financial institutions, including banks and microfinance institutions, with a total of US$728 million. Meanwhile, the more than 40,000 residents of Prey Nob district had borrowed a total of more than US$529 million.

According to Credit Bureau Cambodia, more than 5 million people nationwide currently have credit, totaling more than US$57 billion, from a total of 194 institutions, comprising banks, microfinance institutions, leasing companies and rural credit institutions.