CIMB Singapore and Wing Bank ( Cambodia ) have entered a partnership through a memorandum of understanding ( MoU ) to enhance cross-border financial services and deepen economic collaboration between Singapore and Cambodia.

The alliance seeks to strengthen financial connectivity within Asean, leveraging CIMB Singapore’s regional expertise and Wing Bank’s local leadership to serve a broad spectrum of clients – from commercial enterprises and SMEs to high-net-worth individuals.

“Teaming up with CIMB Singapore allows us to bring world-class financial solutions to our customers while deepening Cambodia’s economic integration with Singapore,” says Wing Bank chief executive officer Dmytro Kolechko. “This marks a pivotal step towards greater financial inclusion and cross-border opportunity.”

The partnership will deliver tailored banking solutions, including deposits, loans, remittances, and trade finance, to support growing demand from cross-border businesses. A key focus is to empower Cambodian SMEs, which form the backbone of Cambodia’s economy – accounting for 98% of businesses, 70% of employment, and 58% of GDP.

In 2024, Cambodia-Singapore trade surged to US$103 million, according to the General Department of Customs and Excise of Cambodia, up 101% from the previous year.