Cambodia Investment Review

Leader Talks: APD Bank CEO Thoo Kim Seng: Delivering Inclusive and Digital-First Banking Solutions in Cambodia

Leader Talks: APD Bank CEO Thoo Kim Seng: Delivering Inclusive and Digital-First Banking Solutions in Cambodia

Cambodia Investment Review

Cambodia’s financial sector is undergoing rapid transformation, driven by digital innovation and a growing emphasis on customer-centric services. At the forefront of this shift is the Asia-Pacific Development Bank (APD Bank), a financial institution aiming to offer a transparent, inclusive, and differentiated alternative to traditional banking. Founded in 2016 as a specialized bank and upgraded to a commercial bank in 2019, APD Bank has grown steadily, reporting total assets of approximately US$1.35 billion as of the end of 2024.

Cambodia Insight spoke with Mr. Thoo Kim Seng, CEO of APD Bank, to learn more about the bank’s unique positioning, digital strategies, and long-term vision to support financial inclusion across the Kingdom.

Setting a New Standard in Banking

Q: APD Bank positions itself as an ‘alternative to traditional banks.’ What services differentiate you from other financial institutions?

A: APD Bank began as a specialized institution in 2016 and quickly advanced, obtaining a commercial banking license from the National Bank of Cambodia (NBC) by 2019. Our vision—“Beyond Premier: Signature Banking Experience”—represents our commitment to raising banking standards. We aim to enhance customer experience through omnichannel engagement, seamless digital transactions, and proactive financial guidance that empowers customers to reach their financial goals.

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Embracing Digital Finance

Q: Cambodia’s financial industry is rapidly digitizing. What are APD Bank’s strategies in this space?

A: With 59 commercial banks already operating in Cambodia, the market is indeed saturated. However, we believe there is still a niche for banks that offer tailored, high-quality services. APD Bank’s digital strategy is rooted in our “Beyond Premier” philosophy—creating excellence in every customer touchpoint.

Q: Digital payment options like QR codes are now mainstream. How is APD Bank adapting?

A: We are a digital-centric bank and have invested heavily in advanced technology. A key milestone was the launch of our mobile banking app, allowing customers to complete transactions conveniently via smartphone. We’ve also integrated with the Bakong System—Cambodia’s central bank-backed platform—enabling cashless local remittances. In addition, we have deployed Virtual Teller Machines (VTMs) at all branches, enhanced our internet banking capabilities, and launched our own debit cards to maximize convenience and benefit.

Customer-Centric Innovation

Q: Your core values are customer focus, transparency, and fairness. What initiatives demonstrate this?

A: We’re reimagining banking through three key pillars:

  1. Beyond Personalized Banking Journey: Offering customized financial solutions aligned with individual goals.
  2. Beyond Banking Facilities: Transforming our branches into customer-friendly spaces for both transactions and serious discussions.
  3. Beyond Exclusive Lifestyle Privileges: Hosting exclusive events and building human-centric relationships.

One recent initiative is the launch of our Privilege Lounge, designed to provide customers with a high-end experience beyond traditional banking.


A Strong Growth Trajectory

Q: APD Bank has grown into a mid-sized financial institution with US$135 million in capital and US$1.35 billion in total assets. What’s driving this growth?

A: As of December 2024, our financial indicators highlight strong momentum:

  • Total assets: US$1.35 billion
  • Customer deposits: US$1.11 billion
  • Total loan and credit portfolio: US$1 billion
  • Shareholders’ equity: US$151 million

This success is due to our commitment to a fully integrated financial ecosystem and high standards of service. I’d like to extend my gratitude to our dedicated staff, loyal customers, and the continuous support from the National Bank of Cambodia. Their trust and collaboration have been vital to our journey.


Promoting Financial Inclusion

Q: Despite high mobile penetration, many Cambodians still lack access to financial services. What is APD Bank doing to bridge this gap?

A: Financial inclusion is a critical issue. We’ve adopted a digital-first strategy, making banking accessible via a user-friendly mobile app that supports the Khmer language. As part of the Bakong system, we offer fast and affordable digital payments. We also participate in the Fast Payment system based on the Cambodian riel (KHR), enabling real-time transfers.

Beyond technology, we engage in financial education through local workshops, social media, and youth programs—especially for underprivileged children. As a member of the Cambodia Bankers Association (ABC), we remain committed to inclusive service design and community-focused projects.


Tailored Financial Products and Services

Q: Have there been any recent product launches, and how has the market responded?

A: All our products are designed to offer maximum value, and customer feedback has been overwhelmingly positive. Whether through mobile banking, debit cards, or business solutions, our approach is to deliver a differentiated experience that earns trust and encourages long-term relationships.


Supporting Korean Investment in Cambodia

Q: More Korean companies are entering the Cambodian market. What is your collaboration strategy with them?

A: We aim to be more than just a bank for Korean investors—we want to be their strategic partner. Our services include business account openings, trade finance, and large-scale project financing tailored to the needs of Korean firms. We’ve launched a Korean Business Desk with bilingual staff who understand both language and business culture. This ensures smooth two-way communication and personalized support.


Final Message to Korean Clients and Investors

Q: What message would you like to convey to Korean clients considering APD Bank?

A: APD Bank is committed to creating value that goes beyond expectations. Cambodia is a growing market, and we see expanding opportunities across ASEAN. Whether you’re looking to invest, expand your business, or find a reliable financial partner, we are here to support you every step of the way.

With a blend of technology, local expertise, and personalized service, APD Bank is your trusted gateway to growth—not just in Cambodia, but across the region.

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