Phnom Penh: In recent days, there has been the spread of false information and some malicious rumors on social media, especially via the Telegram app, causing public confusion regarding the stability of certain financial institutions. In response, APD Bank, Phillip Bank, and the microfinance institution LOLC have issued consecutive statements to dispel these fake news.
These banks and financial institutions have uniformly asserted that any information suggesting liquidity problems or the collapse of institutions is “baseless and intentionally disruptive.” Phillip Bank has confirmed that it is taking the strictest legal measures against those who create and distribute such false information.
Each institution has presented clear financial data to reassure customers:
- APD Bank: Showcasing diversified assets totaling up to 4.5 billion dollars.
- Phillip Bank: Highlighting the strong backing of its parent company PhillipCapital, based in Singapore, with total managed assets exceeding 65 billion dollars across 16 countries.
- LOLC (Cambodia): Affirming strong cash flow and capital status and the continued full operation of financial services at all branches nationwide.
All institutions emphasized that they operate under the regulations and regular supervision of the National Bank of Cambodia (NBC). Recent minor disruptions to technological systems are routine technical maintenance to enhance security and service efficiency, not signs of a financial crisis.
Representatives of all financial institutions have appealed to customers and the public to remain calm and avoid believing unverified information. All official information will only be disseminated through the official websites and social media channels of each bank.
The banking system in Cambodia remains stable and highly secure under the management of the National Bank. Citizens should not be alarmed by malicious rumors that could lead to personal economic losses and harm to the national community.
