KB Financial Group opens 3rd branch in Cambodia

KB Financial Group said Wednesday it has opened a third bank branch in Cambodia in the latest move to strengthen its business in the Southeast Asian country.

The opening of the KB Kookmin Bank branch earlier in the day drew some 100 local and South Koreans, including KB Financial Chairman Yoon Jong-kyoo, according to KB Financial.

KB Financial Chairman Yoon Jong-kyoo (2nd from left) attends a ribbon-cutting ceremony at the opening of the third branch of KB Kookmin Bank in Toul Tom Poung in southwestern Phnom Penh on Feb. 15, 2016. The photo was provided by KB Financial Group. (Yonhap)

The South Korean banking giant said the third branch is located in Toul Tom Poung, a middle-class neighborhood in the southwestern area of the capital city of Phnom Penh.

KB Kookmin Bank said it has two other branches in Phnom Penh and its key strategy is to lend money to entrepreneurs in the emerging market. (Yonhap)