Vattanac Bank

What Vattanac Bank does

Vattanac Bank is a privately held Cambodian commercial bank founded in 2002, headquartered in Phnom Penh at Vattanac Capital, and operating 40+ branches across more than 20 provinces, including 9 Premier Lounges. The bank serves retail consumers, small and medium enterprises, and high-net-worth individuals (Premier Banking segment requiring US$100K+ balances or loans) through a hybrid distribution model combining a physical branch network with the VB App (iOS, Android, Huawei AppGallery) and an Internet Banking platform. Its product suite spans deposit accounts, Visa-branded cards (Gold/Classic credit, debit, prepaid, ATM), personal and business loans, trade services, remittances, tax collection, and bancassurance.

The bank's technology backbone centers on the VB App, which integrates with the National Bank of Cambodia's Bakong payment platform, the Cambodian Shared Switch (CSS) ATM network, CamDX digital security infrastructure, and EMQ for overseas remittances. Notable proprietary or first-in-Cambodia features include 'Block Now' (instant fraud-block while still receiving incoming payments), 'First Account' (self-service account opening with National ID and biometrics), My QR/KHQR, and Split-a-Bill. Biometric authentication (Face ID, fingerprint) and one-tap in-app card management are standard mobile banking features.

Vattanac's revenue is generated primarily through interest income (net interest spread on loans vs. deposits), transaction and service fees (Bakong transfers, card annual fees, ATM usage, EMQ remittances), card-related fees (annual fees, cash advance, currency conversion), trade finance commissions, bancassurance commissions, and government tax/customs collection fees. Pricing is granular and segment-specific, ranging from US$5 Visa Debit annual fees and 0.50% p.a. Basic Savings interest to US$50 Gold Card annual fees and tiered Bakong transfer fees. Distribution is multi-channel (branches, VB App, Internet Banking, ATM network via CSS, 24/7 call center, merchant partner network) and the bank pursues ecosystem partnerships across education, healthcare, logistics, and SME (Smart Axiata, CIA FIRST, Sunway Medical, PAS, Hou Express) to drive customer acquisition and lock-in.

Name

Vattanac Bank

Legal name

Vattanac Bank

Website

https://vattanacbank.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

251–500 employees

Short description

Vattanac Bank is a privately held Cambodian commercial bank founded in 2002, operating 40+ branches and the VB App to serve retail consumers, SMEs, and high-net-worth clients with deposits, Visa cards, loans, trade services, and Bakong-integrated digital payments.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Private Banking Custody, Depository & Safekeeping Services (FSABADAI)

Keywords

• Retail banking services
• Commercial banking services
• Digital mobile banking
• Cross-border remittances
• Trade finance services

Headquarters

HQ city

Phnom Penh

HQ country

Cambodia

HQ region

Asia

Offices43 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Interest earned on loans (personal loans, business loans, micro loans, home loans, revolving credit, overdraft facilities) and interest paid on deposits (savings, current accounts, fixed deposits). Core banking revenue stream.
2. Card Services: Annual fees for Visa credit cards (Gold, Classic), debit cards, prepaid cards, and ATM cards. Also includes cash advance fees, currency conversion fees, and card replacement fees.
3. Transaction and Service Fees: Fees for fund transfers (domestic and international), ATM withdrawals at other banks, cash-out fees, balance inquiries, cheque services, and account maintenance.
4. Bakong Transfer Fees: Fees for fund transfers via Bakong network with tiered pricing based on transfer amount in KHR and USD.
5. EMQ Overseas Transfer Fees: Fees for overseas remittances to 6 Asian countries: USD 5.00 for transfers up to USD 1,000, USD 8.00 for transfers over USD 1,000.
6. Trade Services: Import and export services for business customers including documentary credits, guarantees, and trade finance.
7. Bancassurance: Insurance products distributed through the bank, earning commission revenue.
8. Tax Collection Services: Collection of business taxes for General Department of Taxation and customs/duty taxes for General Department of Customs and Excise.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

Vattanac Bank is a Cambodian commercial bank offering deposit accounts, Visa credit/debit/prepaid/ATM cards, personal and business loans, local and overseas remittances, import/export trade services, tax and utility payment services, and bancassurance through a network of 40+ branches. Customers access these products via branch, VB App, Internet Banking, or CSS-network ATMs. The bank serves individuals, SMEs, corporations, and high-net-worth clients (Premier Banking) with a digital-first proposition that includes remote account opening, Bakong interoperability, and the first-in-Cambodia Block Now fraud-protection feature.

Product overview

Vattanac Bank offers a multi-channel banking platform combining physical branch services with a digital-first product portfolio. The core digital experience is the VB App (available on iOS, Android, and Huawei AppGallery), complemented by an Internet Banking platform. The bank's product suite is organized into Personal Banking (deposits, cards, loans, remittances), Business Banking (accounts, loans, trade services, payroll), Premier Banking (high-net-worth segment with dedicated relationship management), and Payment Services (tax, utilities, Bakong transfers, KHQR). Key digital features include First Account (remote account opening), My QR/KHQR, Split a Bill, Bakong Transfers, EMQ international transfers, Mobile Savings/Fixed Deposit, in-app Card Management, and the Block Now fraud-prevention feature. The bank also participates in the Cambodian Shared Switch (CSS) network and the National Bakong payment platform, extending its digital reach.

Differentiator

Problem solved

Functional benefit

Brands

• Premier Banking: Premium banking service offering exclusive privileges, personalized service, premier lounge access, preferential rates, and dedicated relationship officers for high-value customers maintaining balances of US$100K and above.
• VB App

Products and services

• Personal Banking Services Suite of personal banking products including deposit accounts (Savings, Fixed Deposit, Current, Maxi Current), Visa credit and debit cards, personal loans (Term, Micro, Home), remittances, and payment services, designed for individual Cambodian consumers.
• Business Banking Services Comprehensive business banking solutions including Fixed Deposit and Current/Maxi Current accounts, business loans (Revolving, Term, Overdraft, SME), trade services (Import and Export), remittances, tax and utility payment services, payroll management, and cash-in-transit for Cambodian SMEs, corporations, and merchants.
• VISA Card Products Full suite of Visa-branded cards: Gold Credit Card, Classic Credit Card, Visa Debit Card, Prepaid Card, and ATM Card for individual and business customers.
• Personal Loan Products Personal loan offerings including Term Loans, Micro Loans, and Home Loans for individual banking requirements.
• Business Loan Products Business credit solutions including Revolving Loans, Term Loans, Overdraft facilities, and SME Loans for Cambodian businesses.
• Premier Banking Privileged banking service for high-net-worth customers maintaining consistent account balances of US$100K and above or performing loans of US$100K and above, including dedicated relationship officers, Premier Lounge access at nine selected branches, preferential rates, fee waivers, extended banking hours, and invitations to exclusive events.
• Trade Services Import and Export trade services facilitating international trade transactions for Cambodian business customers.
• Remittance Services Local and overseas remittance services for sending and receiving money to and from Cambodia, including EMQ mobile transfers to Singapore, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.
• Payment Services Comprehensive payment services including tax payments to GDT and GDCE, utility and MPWT bill payments, Bakong transfers, and acceptance of KHQR payment codes for personal and business customers.
• Vattanac Bank Mobile App (VB App) The bank's primary digital banking platform, available on iOS, Android, and Huawei AppGallery, enabling customers to manage accounts, transfer funds, pay bills, open accounts, and use QR payments entirely from a mobile device. Includes the Block Now security feature (first in Cambodia) for instant transaction blocking.
• Internet Banking Online banking platform for both personal and business customers, supporting fund transfers, bill payments, mobile top-ups, deposit account opening, loan information viewing, bank statement downloads, and scheduled transactions.
• Personal Deposit Accounts Range of deposit products: Basic Savings Account (0.50% p.a.), Basic Fixed Deposit (counter rates up to 3.35% p.a.), Current Account, Maxi Current Account (interest-bearing, 0.50% p.a. USD / 1.00% p.a. KHR on balances ≥US$20,000), Young Savers Account (higher rates for children under 18), Senior Citizen Accounts (0.5% higher interest), and Flexi Fixed Deposit (partial withdrawal flexibility).
• Business Tax Payment Service Tax payment service for businesses enabling payment of all types of taxes to the General Department of Taxation (GDT) and customs/duty taxes to the General Department of Customs and Excise (GDCE), including property tax and tax on means of transportation.
• VB Kmeng Account A savings product announced under the news section, described as 'Save Today, Secure Tomorrow'.

Quantifiable outcome

• First Account Opening allows account creation with only National ID - no branch visit required
• +4 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature7 records

Partnerships

17 partnerships are on record, tiered core and minor.

• Mission Alliance CambodiacoreStrategic or Co-development PartnerStrategic collaboration to empower communities through financial inclusion and community development initiatives.
• CIA FIRST International SchoolcoreStrategic or Co-development PartnerMoU for strategic collaboration in education banking services.
• The King's School, VattanacvillecoreStrategic or Co-development PartnerMoU for strategic digital collaboration for school banking solutions and financial services.
• Sunway Medical Centre, Sunway CityminorStrategic or Co-development PartnerPartnership to support cross-border healthcare payments and medical services for customers.
• CamDXcoreTechnology or IntegrationJoined CamDX to enhance digital security and innovation in banking services.
• Bar Association of the Kingdom of CambodiaminorStrategic or Co-development PartnerStrategic partnership with legal professionals association.
• General Secretariat of the Digital Economy and Business CommitteecoreStrategic or Co-development PartnerPartnership for digital platform registration of the informal economy to support digital transformation.
• RTNK GroupcoreStrategic or Co-development PartnerDigital strategic partnership for digital workforce and development initiatives.
• ELIX OrganizationcoreStrategic or Co-development PartnerCollaboration on digital workforce development project with universities.
• National University of ManagementcoreStrategic or Co-development PartnerDigital workforce development project partnership.
• Svay Rieng UniversityminorStrategic or Co-development PartnerDigital workforce development project partnership.
• Hou ExpressminorStrategic or Co-development PartnerStrategic partnership to enhance e-payment solutions for logistics.
• Smart AxiatacoreStrategic or Co-development PartnerStrategic partnership focusing on business growth and data science for the SME segment.
• Sihanoukville Autonomous Port (PAS)minorStrategic or Co-development PartnerStrategic collaboration for port-related banking and trade services.
• National Bank of Cambodia (Bakong)coreTechnology or IntegrationIntegration with Bakong - NBC's mobile payment and banking platform - enabling fund transfers to 27+ member banks and financial institutions.
• EMQcoreTechnology or IntegrationEMQ money transfer service enabling instant overseas fund transfers to Singapore, Indonesia, Malaysia, Philippines, Thailand, and Vietnam.
• Cambodian Shared Switch (CSS) NetworkcoreTechnology or IntegrationMember of CSS Network since December 2019 enabling ATM access at hundreds of member bank ATMs nationwide.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ABA Bank: ABA Bank is Cambodia's largest commercial bank by deposits and the most aggressive digital-banking competitor. It targets the same retail, SME, and HNW segments as Vattanac with a similar branch-plus-app model, but with materially larger scale and earlier product launches.
• ACLEDA Bank: ACLEDA Bank is one of Cambodia's largest domestic banks with the widest branch network and strong SME lending franchise. It directly competes with Vattanac across deposits, business loans, trade finance, and remittances in the same Cambodian customer base.
• Canadia Bank: Canadia Bank is a long-established Cambodian commercial bank offering retail and corporate banking, Visa cards, and remittance services. It is a direct competitor in the same Phnom Penh and provincial deposit and loan market as Vattanac.
• Sathapana Bank: Sathapana Bank is a mid-sized Cambodian commercial bank with a growing branch network and digital banking platform. It competes head-to-head with Vattanac in retail deposits, SME lending, and digital onboarding in Cambodia.
• Wing Bank (Cambodia): Wing Bank is a Cambodian digital-first bank backed by a large local conglomerate, focusing on mobile wallets, agent banking, and payments. It competes with Vattanac on app-based account opening, QR payments, and unbanked customer acquisition.
• Phillip Bank (Cambodia): Phillip Bank is a mid-tier commercial bank in Cambodia owned by Singapore-based PhillipCapital. It offers retail, SME, and trade finance products overlapping directly with Vattanac's portfolio in the Cambodian market.

Broad incumbents

• Maybank Cambodia: Maybank Cambodia is the local subsidiary of Malaysia's Maybank, one of Southeast Asia's largest banking groups. It offers commercial and retail banking in Cambodia as part of a broader regional network, competing with Vattanac on corporate and SME banking.
• UOB Cambodia: UOB Cambodia is a subsidiary of United Overseas Bank, a major Singapore-based regional bank. It serves corporate, SME, and priority banking clients in Cambodia, overlapping with Vattanac's business banking and Premier segments.
• CIMB Cambodia: CIMB Cambodia is part of CIMB Group, a major ASEAN banking conglomerate. It offers consumer and commercial banking in Cambodia, competing for the same corporate, SME, and affluent customer segments as Vattanac.

Emerging players

• Cambodia Post Bank: Cambodia Post Bank is a state-linked commercial bank focused on rural and microfinance banking across Cambodia. It competes with Vattanac in the SME and retail deposit market, particularly in provincial areas outside Phnom Penh.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/vattanacbank
• LinkedInlinkedin.com/company/vattanac-bank
• Instagraminstagram.com/vattanacbank
• TikToktiktok.com/@vattanacbank

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vattanac Bank