Maybank Cambodia has expanded its network by opening four new branches in Sisophon, Chroy Changvar, Obek Kaorm and Kampuchea Krom locations, taking its total branches in the country to 16.

The new branches will provide banking services including deposits and placements, trade finance, loans, remittances, mortgages and global ATMs.

Maybank Cambodia CEO Lee Tien Poh said the Malaysian bank has assets growing at an annual rate of 32% over the past five years.

"The opening of these four new branches is expected to boost our total deposits and loans by some 13 percent and 16 percent respectively in the next three years," Lee added.

The four new branches join Maybank’s other branches located in Kramoun Sar, Toeuk Thla, Mao Tse Toung, Chbar Ampov, Olympic, Toul Kork, Stung Meanchey, Phnom Penh Special Economic Zone, Siem Reap, Sihanoukville, Battambang and Kampong Cham.

Lee said Maybank Cambodia will pursue a more aggressive network expansion plan in 2014 in line with the group’s vision to be a regional financial services leader.

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"Our network expansion will include both our branch and ATM network, as well as enhancement of our internet banking capabilities," Lee added.