Central Bank To Relocate To Allow Renovations

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The head office of the National Bank of Cambodia (NBC) on Norodom Boulevard is to be temporarily moved to a building in Phnom Penh Thmey, a commune in the city’s western Sen Sok district, as the government plans to renovate the NBC’s current premises to accommodate more staff.

national bank of cambodia relocation
A view of the National Bank of Cambodia head office on Norodom Boulevard in Phnom Penh. KHMER TIMES / CHOR SOKUNTHEA

NBC governor Chea Chanto said yesterday that the central bank was expanding due to fast development of the Kingdom’s financial and banking sectors and for that reason it needed a better working environment for its increased staff.

“The NBC’s staff has increased year-on-year, in tandem with the needs of country’s finance and banking sectors, and we need a larger building,” said Chanto at a banking seminar. “The present NBC head office will be renovated to include a 15-storey modern building at the same location.”

Chanto said by next year, the NBC would move temporarily to a new building in Phnom Penh Thmey in Sen Sok district while building renovations were carried out to its current premises. “We will move back when the construction is completed and our new head office will be 15-storeys high.”

The NBC governor said the current NBC building needed a facelift “to be more like other commercial banks that have big buildings”.

“Having a big modern building with skilled human resources would build the trust of both the Cambodian people and foreign investors in the country’s central bank,” he said. “The design remodels the old building and adds a faceted 15-storey tower-like structure with all the modern amenities.”

According to the latest NBC report, in the first half of the year the bank has 1,569 staff, of which 1,109 are at the central bank’s headquarters. The other 460 work at the NBC’s provincial branches.

This article was originally published in the Khmer Times.

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