Since we last checked, KB Prasac has cut its interest rates by 0.5 percentage points. This goes for fixed deposits with a term of one year or more in both Khmer riel and US dollars.
Woori Bank has also decided that interest rates for one-year deposits or more were too high. It cut its rates for US dollar deposits by 0.55 percentage points and for term deposits in Khmer riel by 0.4 percentage points.
Canadia Bank has also lowered its rates for fixed deposits with monthly or maturity payout, but only by 0.25 percent.
Interestingly, microfinance institution Mohanokor has raised all of its interest rates by 0.25 percentage points. It now offers by far the best returns on both deposits with monthly and maturity payouts. But we’d like to say be careful, as Mohanokor is losing money and has the highest percentage of non-performing loans (almost 20%), as the 2024 Supervision Report of the National Bank of Cambodia shows.
