Cambodia Investment Review
SuperBankRatings has published the first of four asset-cohort rankings in its inaugural Cambodia SuperPower Banking Index 2026, assessing banks with 2025 assets below $1 billion.
The Andersen Consulting Cambodia specialised research and rating platform reviewed 49 bank assessments, with 31 institutions meeting the asset criteria for this opening cohort. It said asset size determines which cohort a bank enters, but does not determine its position within the ranking.
The top five
- Joint No. 1 — Mizuho Bank Phnom Penh Branch: 4.19 out of 5
- Joint No. 1 — Agricultural and Rural Development Bank (ARDB): 4.19 out of 5
- No. 3 — Union Commercial Bank: 4.16 out of 5
- No. 4 — Shinhan Bank (Cambodia): 4.15 out of 5
- No. 5 — AMK Bank: 4.11 out of 5
Just 0.08 points separate the five banks. SuperBankRatings said the tie at the top reflects different institutional strengths: Mizuho benefits from the financial backing of its global parent, capital and liquidity, while ARDB’s assessment reflects its government links and role in Cambodia’s development priorities.
The index combines 40% quantitative and 60% qualitative analysis across 11 parameters and 329 benchmark points. These cover factors including governance, financial strength, funding and liquidity, risk management, sustainability and technology. SuperBankRatings describes the result as an analytical peer ranking, not a regulatory rating or a recommendation on where to deposit money.
Three further cohorts are scheduled: banks with $1 billion to $1.99 billion in assets on September 16, $2 billion to $4.99 billion on September 18, and $5 billion or more on September 21, according to the detailed ranking release.
For full research & rating methodology: https://lnkd.in/gdnvg2Xd
