Cambodia Investment Review
APD Bank has resumed limited banking operations following a five-day shutdown of its core banking system, but customers will face strict transaction limits as services gradually return.
Under temporary measures introduced after the maintenance period, customers can transfer a maximum of $300 per day through Cambodia’s Bakong KHQR system until March 20 while the bank continues stabilizing its upgraded systems.
The service disruption began on March 11 when APD Bank suspended a wide range of digital and branch-based banking services as part of scheduled system maintenance. The maintenance period continued until late on March 15, during which time many core banking functions—including deposits, withdrawals, and card payments—were unavailable.
Following the upgrade, the bank confirmed that its core banking system had been successfully restored. However, services will only resume gradually while the system returns to normal operations.
According to the bank’s announcement, only limited services will be available between March 16 and March 20 as technical teams monitor and stabilize the upgraded platform.
Limited services during recovery period
During the transition period, APD Bank customers will only be able to access a limited range of basic banking functions.
These include account inquiries, transfers between their own accounts, and the placement of fixed deposits.
For external transfers, the only available payment channel is Cambodia’s Bakong KHQR system, which enables transfers between participating banks and payment providers within the country’s national payment infrastructure.
However, the bank has imposed an aggregated daily transfer limit of $300 per customer through Bakong until March 20.
Several commonly used banking services remain temporarily unavailable while the system recovery process continues.
Cash withdrawals at branches are currently suspended, along with transfers between APD Bank accounts and premature withdrawals from fixed deposits.
Card payment services using Visa, UPI, and CSS networks are also unavailable during the recovery period, along with a number of features within the bank’s mobile and internet banking platforms.
APD Bank said the restrictions form part of a phased approach designed to ensure system stability after the core banking upgrade.
Bank issues statement rejecting rumors
The service suspension has coincided with a wave of rumors circulating online regarding APD Bank’s financial condition and regulatory status.
In response, the bank issued a public statement rejecting claims suggesting that it may be involved in online fraud activities or that its operating license could be revoked.
The bank described the allegations as unfounded and malicious fabrications.
“Recently, numerous unfounded rumors targeting the banking sector have appeared online, with some malicious statements affecting APD Bank,” the bank said in the statement.
According to APD Bank, the spread of misinformation has caused damage to the bank’s reputation and disrupted its normal operations.
The bank said it has reported the matter to relevant authorities and is working closely with legal advisers and law enforcement agencies to pursue those responsible for spreading false information.
APD Bank also emphasized that since its establishment in April 2016 it has operated in compliance with the regulations of the National Bank of Cambodia and continues to maintain stable operations.
Shareholders highlight financial backing
In its statement, APD Bank also pointed to the financial strength of its shareholder group as part of its reassurance to customers.
The bank said its shareholders have investments across multiple sectors locally and internationally, including real estate, mining, energy, and industrial special economic zones.
According to the bank, the combined assets of these businesses total approximately $4.5 billion.
The diversified nature of these investments, the bank said, provides capital support and broader industrial synergies that help support the bank’s development.
APD Bank reiterated that customer funds remain safe and secure and apologized for the inconvenience caused by the temporary service disruption.
The bank added that further updates will be provided through its official communication channels as additional banking services are gradually restored.
