Cambodia’s non-banking finance assets triple to $9B in 5 years

Cambodia’s non-banking finance assets triple to $9B in 5 years

Pornmoniroth says the non‑bank financial sector is becoming an increasingly vital pillar of the national financial system, with rapid expansion generating massive socioeconomic benefits and value across key areas of the country.

Cambodia’s non-banking financial sector has grown rapidly over the past five years, with total assets tripling from $3 billion in 2021 to $9 billion in 2025, equivalent to 18% of the country’s gross domestic product (GDP), while employment doubled from 8,000 to around 16,000.

The data was reported during the dissemination forum on ‘Achievements of the Non-Bank Financial Services Authority in the First Mandate’ and the ‘Annual Securities Conference 2026’, presided over by Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth in Phnom Penh yesterday.

Addressing the ceremony, Director-General of the Securities Exchange Regulator of Cambodia Sou Socheat highlighted that as of September this year, the Kingdom had a total of 28 listed companies, comprising both equity and debt securities.

Socheat noted that the capital raised through the securities market could reach $1 billion by the end of 2026.

Regarding corporate bonds, he said proceeds raised could also reach $1 billion, supported by the Royal Group, which has contributed to the development of the sector.

During his opening remarks, the Deputy Prime Minister said over the five years of the first mandate of the Non-Bank Financial Services Authority, the sector had expanded rapidly, becoming an increasingly vital component of the national financial system.

He noted that the growth was reflected not only in quantitative terms but also in the socioeconomic benefits and value generated for Cambodia across three key areas.

First, he pointed to the expansion of the sector’s scale, as total assets in the non-banking financial sector grew from just over $3 billion in 2021 to over $9 billion in 2025, equivalent to approximately 18% of GDP.

“This substantial growth demonstrates the sector’s continuous expansion in supporting economic activity and investment, as well as driving overall national socioeconomic development,” Pornmoniroth said.

Second, he highlighted job creation and human capital development, noting that employment in the sector had doubled, rising from approximately 8,000 in 2021 to around 16,000 in 2025.

Pornmoniroth said, “This significant increase in employment is a positive sign; however, an even more notable achievement is the development and enhancement of knowledge, as well as technical and professional skills, across the six key sectors mentioned above.”

“These efforts have contributed to the development of Cambodia’s financial labour market and the building of human capital, in alignment with the Pentagonal Strategy-Phase One, which prioritises people as the first key priority,” he added.

Third, he noted the expanding access to services and the broader contribution to national socioeconomic development, adding that the non-banking financial sector has helped expand social protection and enhance the financial resilience of citizens through social security systems and insurance products.

The Deputy Prime Minister said that it had created investment opportunities and supported capital mobilisation through the securities market, while establishing a robust legal framework for asset management and investment structuring through trust services.

He added that it also enhanced the quality and reliability of financial information, corporate governance and accountability through the development of the accounting and auditing sectors, while supporting urgent financing needs and affordable housing development through the real estate and mortgage sectors.

“These advancements have expanded choices and opportunities for the general public, business owners, and investors, while also contributing to a strengthened business environment and Cambodia’s socioeconomic development,” Pornmoniroth noted.

The Deputy Prime Minister continued by highlighting several key achievements in the securities sector during the FSA’s first mandate, in line with the focus of the ‘Annual Securities Conference 2026’.

First, he highlighted the growth in market size, noting that over the past five years, market capitalisation had grown at an average annual rate of approximately 16.7%.

Second, he noted the sustainable momentum of the securities market, saying the issuance of green bonds and sustainability bonds had grown to approximately $80 million.

“Furthermore, this month, a guaranteed sustainability bond was listed on the Cambodia Securities Exchange, raising approximately $20 million in compliance with international standards,” Pornmoniroth said.

Third, he pointed to the growth in investors, stressing that the number of market investors had increased significantly, with the total number of Investor IDs reaching 76,696, while daily equity trading volume had exceeded $3 million.

Regarding financial technology (FinTech) and regulatory innovation, he highlighted the implementation of FinTech regulatory sandbox mechanisms and the adoption of financial innovations, including the Cambodia Data Exchange (CamDX), Cambodia Digital Key (CamDigikey), and the document verification platform (Verify.gov.kh).

The Deputy Prime Minister also pointed to the management and trading of digital assets and automated trading systems, saying these initiatives have helped strengthen financial stability and security.

“Overall, the securities sector not only meets the capital requirements of companies and enterprises but also serves as a mechanism to drive innovation, inclusion, sustainability, corporate governance and business practices characterised by transparency and accountability in Cambodia – key global factors that major investors evaluate before deciding to invest in any country,” he added.

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