Cambodia Investment Review
Chief (Cambodia) Commercial Bank Plc has confirmed a full change in ownership following the sale of its 100% shareholding by its Hong Kong-based owner to Asian Business Group. Financial details—including valuation, purchase price, and deal structure—were not disclosed.
The bank also confirmed that the change in shareholding structure has been formally approved by all relevant authorities, including the National Bank of Cambodia, the Ministry of Commerce, the General Department of Taxation, and other regulatory bodies. These approvals ensure full compliance with the legal and supervisory requirements governing ownership changes in Cambodia’s banking sector.
The ownership transition coincides with the appointment of Dr. Lim Aun as Chief Executive Officer in October 2025, marking the beginning of a new strategic phase for the bank as Cambodia’s financial sector continues to mature.
Leadership Transition Under New Ownership
Dr. Lim Aun brings extensive experience from Cambodia’s banking industry, having served as CEO of Sattapana Bank and SME Bank of Cambodia. His background in corporate banking, retail banking, digital innovation, and institutional development aligns closely with Chief Bank’s renewed strategic direction under its new shareholder.
He succeeds Dr. Soeung Morarith, who led the bank through a period of operational strengthening and network expansion. During his tenure, Chief Bank enhanced its regulatory compliance, digital infrastructure, and organisational framework. Dr. Soeung has since assumed the role of Director General of Telecom Cambodia.
The leadership transition is widely viewed as a coordinated step supporting the bank’s evolving strategic priorities.
Transaction Details Remain Undisclosed
Neither Chief Bank nor Asian Business Group has released information on the acquisition price, payment structure, or whether additional capital commitments form part of the deal. The parties have also not commented on whether any internal restructuring accompanied the transaction.
Such limited disclosure of commercial terms is typical for privately negotiated banking acquisitions in Cambodia.
Growth Trajectory Since 2013
Chief Bank began operations in 2013 as a specialised bank before receiving its commercial banking licence in 2018. Since then, the bank has expanded its product offerings and customer base.
As of December 2024, the bank reported deposits exceeding USD 188 million and total assets of more than USD 278 million. Management states the bank remains on track to meet its operational goals in 2025, supported by investments in digital banking, regulatory systems, and brand strengthening.
The bank continues to promote its internal culture, known as “The Chief Way,” emphasising professionalism, integrity, and long-term customer relationships.
Headquarters Milestone and Branding Update
The ownership change follows a notable year for the bank. In April 2025, Chief Bank opened its new headquarters in Phnom Penh as part of its 11-year anniversary celebration. Cambodia Investment Review has been informed that the building will no longer carry the “Chief Tower” name and will revert to its original developer branding, JS Tower.
Read More: Chief Bank Celebrates Grand Opening of New HQ and 11th Anniversary Milestone in 2025
With new ownership and refreshed leadership, Chief Bank is expected to sharpen its strategic focus as it navigates Cambodia’s increasingly competitive banking landscape. Market observers are watching for further clarity on its capital strategy, governance direction, and long-term positioning.
