Cambodia Post sees 55 percent revenue hike

11 Feb 2019 2058 | Business & Trade Fairs

Cambodia Post, the agency responsible for providing postal services in the Kingdom, increased its revenue by more than 50 percent last year, surpassing $13 million, according to the agency’s latest report.

CP earned $13.1 million in 2018, an increase of 55 percent from 2017’s $8.5 million, the report revealed.

CP, Canadia Bank, and Fullerton Bank created the Cambodia Post Bank, which last year increased its working capital to about $75 million.

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Canadia Bank holds 50 percent of stakes ($37.5 million) in Cambodia Post Bank, Fullerton Bank holds 45 percent ($33.7 million), and CP has the rest of the shares ($3.7 million).

Last year, in a bid to modernise its offer, CP unveiled a new application that enables electronic payments for a range of services as well as money transfers.

Called ‘posTTransfer’, the new application allows users to perform domestic and international money transactions and pay online for a wide range of services, including utilities and school fees, according to Ork Bora, the director of CP.