Cambodia deposits reach $63B by August, up 0.21%

Cambodia deposits reach $63B by August, up 0.21%

Despite foreign currency dominance, digital tools are steadily expanding local currency savings in Cambodia.

Cambodia’s depository institutions held a total of 252.59 trillion riels, equivalent to $63.15 billion as of August, marking an increase of 0.21% year-on-year, despite continued growth in riel-denominated deposits, according to the latest data from the National Bank of Cambodia (NBC).

In the ‘Deposits with Depository Institution’ report released by NBC on October 14, deposits denominated in riel currency rose 15.84% compared to the same period last year to 33.2 trillion riels (around $8.3 billion), while foreign-currency deposits declined 1.79% to 219.39 trillion riels.

The contrasting movements lifted the riel’s share of total deposits to 13.1%, up from 11.4% in August last year and 7.9% in August 2020. However, foreign currencies continued to account for the overwhelming majority, representing 86.9% of the total deposit base.

The figures cover deposits held by commercial banks and microfinance deposit-taking institutions (MDIs) licensed to accept deposits in Cambodia. Foreign-currency deposits include those held by Cambodian residents and non-residents, with balances converted into riel equivalents for comparison.

Riel deposits have increased steadily in recent years, reaching 33.2 trillion riels in August from 28.66 trillion riels a year earlier and growing by approximately 67% from 19.87 trillion riels in August 2023 and more than tripled from 8.9 trillion riels in August 2020.

The monthly figures also showed continued growth in local-currency deposits this year. Riel deposits rose from 31.68 trillion riels in May to 32.2 trillion riels in June, and to 32.75 trillion riels in July this year.

In contrast, foreign-currency deposits declined from 218.68 trillion riels in May to 217.95 trillion riels in June before recovering to 218.5 trillion riels in July and 219.39 trillion riels, equivalent to approximately $54.84 billion, in August this year.

Despite the recent recovery, foreign-currency deposits remained below their year-earlier level of 223.4 trillion riels ($55.85 billion). The decline offset much of the increase in riel deposits, leaving total deposits only 530.5 billion riels higher than in August 2025, when the total stood at 252.06 trillion riels.

The composition of deposits also showed differences in how customers held their money in the two currencies. Fixed deposits remained the largest category for both riel and foreign-currency holdings as of August 2026.

Fixed deposits denominated in riel reached 17.32 trillion riels, accounting for 52.2% of all riel deposits, while foreign-currency fixed deposits stood at 110.82 trillion riels ($27.71 billion), representing 50.5% of that category.

However, the annual movements differed. Riel fixed deposits increased 9.51% from 15.82 trillion riels in August last year, while foreign-currency fixed deposits fell 8.41% from 121 trillion riels or $30.25 billion.

Savings deposits recorded stronger growth in both currencies. Riel savings deposits rose 31.43% year-on-year to 8.62 trillion riels, while foreign-currency savings deposits increased 8.17% to 67.77 trillion riels.

Demand deposits, which generally allow customers to access funds when needed, also increased. Riel demand deposits rose 16.23% to 7.16 trillion riels, while foreign-currency demand deposits grew 4.89% to 40.3 trillion riels.

Savings deposits accounted for 26% of riel deposits and 30.9% of foreign-currency deposits. Demand deposits represented 21.6% and 18.4%, respectively.

The figures showed that the increase in riel deposits was spread across demand, savings and fixed accounts, with savings deposits recording the fastest annual growth.

Meanwhile, the decline in foreign-currency deposits was largely associated with the contraction in fixed deposits, which outweighed increases in savings and demand accounts.

Overall, deposits have expanded significantly over the longer term, rising from 112.12 trillion riels ($28.03 billion) in August 2020 to 252.59 trillion riels ($63.15 billion) in August, an increase of just 0.21% compared to August 2025.

However, the latest annual figures showed a marked slowdown, with total deposits increasing only marginally as riel holdings grew and foreign-currency balances contracted.

On a monthly basis, total deposits increased 0.54% from 251.24 trillion riels ($62.81 billion) in July to 252.59 trillion riels in August. Riel deposits rose by 454.4 billion riels during the month, while foreign-currency deposits increased by 894.2 billion riels.

The monthly increase in foreign-currency holdings followed a decline in June and a recovery in July. Despite the August rise, foreign-currency deposits remained below their level a year earlier.

The latest figures therefore showed that the monthly expansion in total deposits was supported by increases in both currency categories, while the longer-term comparison continued to reflect stronger growth in riel deposits.

The riel is capturing a larger share of Cambodia’s deposits, though foreign currencies still dominate the banking system.

khmertimeskh