FTB is Cambodia’s first and foremost bank. It is a joint private/Government venture and has been providing customers with safe and reliable banking services for more than 33 years.
The Bank was created following Sub-decree No. 1213 dated 10 October 1979 under the former regime of the State of Cambodia. In 2000, the Bank was separated from the direct management of the National Bank of Cambodia (“the Central Bank”) in order to transform its permanent identity into a state-owned commercial bank in Cambodia with the features of a Public Economic Enterprise and with the intention of conducting autonomous business operations.
In January 2001, the Bank obtained its banking license from the Central Bank to operate as a commercial bank in the Kingdom of Cambodia for a period of three years starting from 4 January 2001. This was the first license granted to enable the Bank to operate as a separate legal entity independent from the Central Bank’s direct management. On 8 January 2004, the Bank obtained its 2nd banking license from the Central Bank for a period of three years starting from that date. The Bank now holds a commercial banking license, which was renewed for an indefinite period, on 21 December 2006.
On 31 December 2002, the Ministry of Economy and Finance (“MEF”) announced, through a Statement of Intent, the privatisation of the Bank as part of the reform of the financial sector of the Royal Government of Cambodia. On 28 October 2005 the shareholders of the Bank, represented by the Privatisation Committee, entered into a sales agreement with Canadia Bank and ING Holding Company. The Central Bank sold its 20% shareholding in the Bank and MEF reduced its 80% shareholding to 10%. In 2009, in accordance with the recommendation of the Central Bank, Canadia Bank reduced its shares from 48% to 15.22% and 2 new private shareholders having respectively a share of 15.39%, entered the capital of FTB. The Bank’s Memorandum and Articles of Association were revised on 12 april 2010 to reflect the change in shareholders and Board of Directors.
In March 2011, Canadia Bank sold its remaining share of 15.22% in equal part to the 2 private shareholders. At end of 2011, the shareholders were ING Holding 44%, 2 private shareholders 23% respectively and the Ministry of Economy and Finance holding the remaining 10% share.