NongHyup Finance (Cambodia) Plc (‘NongHyup Finance’ or the ‘Company’) is a subsidiary of NongHyup Bank in the Republic of Korea. NongHyup Bank is a pure local capital bank established in 1961 with 100% domestic capital and a specialized bank that manages the central and regional government’s deposit safe with the biggest nationwide branch network. It is well known for not only its outstanding financial services but also the role in promoting the well-being of the agriculture society in the Republic of Korea.
It has also been recognized as the most advanced cooperative financial institution around the world with its half-century proven track record in financial operations. NongHyup Bank has penetrated itself overseas through foreign branches in the United States and Vietnam, Micro Finance Institutions in Myanmar and Cambodia, and representative offices in China and India.
NongHyup Finance received a license from the National Bank of Cambodia on 8 August 2018 to operate the microfinance in Cambodia after NongHyup Bank had acquired 100% shares from SAMIC Plc. It is currently operating in Phnom Penh and 11 provinces of Kandal, Kampong Speu, Takeo, Kampot, Kep, Preah Sihanouk, Siem Reap, Kampong Thom, Prey Veng, Svay Rieng and Kampong Cham. These operating areas are expected to grow in the future.
NongHyup Finance provides financial services to economically challenged Cambodians and low-medium income earners living in the rural and urban areas; and its clients are dominantly female. Micro-loans perform well among clients living in rural areas and making their living on micro/ small businesses and agriculture activities such as rice cultivation, animal husbandry, and other similar businesses within their communities. Small and medium loans are more popular among those who live in urban areas and are provided to the clients who need to initiate new businesses and/or expand their existing businesses for more profitability with sustainable growth.
NongHyup Finance has strived to develop itself to become a well-known microfinance institution in Cambodia with a strong commitment to helping Cambodian people, especially those living in rural areas, to overcome poverty and to improve their living standards. NongHyup Finance has the full capability to serve a wide range of products and services to different groups of clients across the country. In addition to loans as its core business product, NongHyup Finance has participated in social and community development through the delivery of training services to clients according to their particular needs including agriculture training, financial literacy training, safe drinking water and hygiene and sanitation education.
