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CIMB to set up HQ Cambodia as soon as possible

CIMB Group (CIMB) has obtained approval-in-principle to offer banking services in Cambodia by its central bank, the National Bank of Cambodia. It said the approval  allowed CIMB Bank to establish and operate a 100%-owned subsidiary to offer banking products and services to the nation of 14 million people. The approval also requires the group  to set up operations within six months. The group plans to establish its headquarters in Phnom Penh as soon as possible, the company said in a statement yesterday. (Star)