ANZ Royal Bank
TypePrivate
IndustryBanking and Finance
Founded2005 (2005)
HeadquartersPhnom Penh, Cambodia
ProductsFinancial services
Websitewww.anzroyal.com

ANZ Royal Bank is a bank in Cambodia with 23 branches[1] that provides internet banking and a network of automated teller machines (ATM) at 101 locations both at branches and off-site.[1] It also offers an "institutional team to assist multinational businesses operating in Cambodia".[2] Established in 2005, ANZ Royal is a joint venture of J Trust and the Cambodian Royal Group Company (RGC).

Ownership

ANZ Royal is a joint venture with the Cambodian Royal Group; the company is 55% J Trust owned[3] and 45% owned by Royal Group.[4]

Competition

ANZ Royal's main competitors are ACLEDA Bank, Cambodia Asia Bank, Canadia Bank, Maybank Phnom Penh, Singapore Banking Corporation (SBC), Vattanac Bank.[5]

Controversy

Sugar plantation

In 2014, it was revealed that the ANZ Royal Bank had been financing a sugar plantation, Phnom Penh Sugar, which had been connected to child labour and forced evictions. The bank responded by saying that they would "continue to engage with this particular case" and would "review the way the company addresses its social and environmental obligations".[6] Though the bank later stopped funding the plantation, farmers handed the bank a petition in August 2014 asking them to take responsibility and help repair the damage done by the plantation.[7] Despite the petition and further protests, the bank declined to help the communities affected.[8]

References

  1. 1 2 www.locate.anz.com https://web.archive.org/web/20121126091902/http://www.locate.anz.com/anz/international/. Archived from the original on 26 November 2012. Retrieved 12 October 2011. {{cite web}}: Missing or empty |title= (help)
  2. ↑ ANZ Royal, Cambodia, Banking for your Business "ANZ Cambodia - Multinational business". Archived from the original on 30 September 2011. Retrieved 29 June 2011.
  3. ↑ "ANZ completes sale of ANZ Royal stake". media.anz.com. Retrieved 14 March 2021.
  4. ↑ ANZ Royal, Cambodia, Homepage. "ANZ Royal - Bank of the Year in Cambodia". Archived from the original on 14 February 2007. Retrieved 13 February 2007.
  5. ↑ Cambodia Yellow Pages. Banking & Finance - Cambodia. Retrieved 2007-02-10
  6. ↑ Daniel Quinlan and Nick McKenzie (23 January 2014). "ANZ Royal financing 'blood sugar' plantation". The Phnom Penh Post. Retrieved 31 March 2015.
  7. ↑ Aun Pheap AND Zsombor Peter (4 August 2014). "Farmers Threaten ANZ With Protest, Demand Help". The Cambodia Daily. Retrieved 31 March 2015.
  8. ↑ Richard Baker and Nick McKenzie (20 August 2014). "ANZ says no to evicted Cambodian farmers". The Sydney Morning Herald. Retrieved 31 March 2014.
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