Phillip Bank Plc., Cambodia’s only Singaporean-owned bank, has been awarded the Best Digital Transformation Initiative by the International Finance Awards 2025, marking another milestone in the Bank’s commitment to innovation, integrity and trusted financial solutions.
The recognition underscores Phillip Bank’s focus on enhancing customer experience through technology. Its user-friendly Phillip Mobile app has made everyday banking simpler and more secure. The bank also became the first in Cambodia to launch a fully digital bancassurance service, enabling customers to complete underwriting, payment and policy issuance entirely through the mobile app — a first-of-its-kind convenience in the local market. Through Phillip Business, corporate and SME customers can now manage all their accounts, approvals and transactions seamlessly on one integrated platform.
As part of the PhillipCapital Group, a Singapore-based financial institution with over 50 years of excellence and a presence in 15 countries, Phillip Bank brings the Group’s hallmark of prudence and governance to Cambodia. With $3 billion in shareholders’ funds and more than $65 billion in assets under management, the Group’s strength ensures Phillip Bank’s continued stability and sustainable growth.
PhillipCapital’s journey in Cambodia began in 2009 with an initial $100,000 investment in First Finance, a mortgage microfinance institution. Over time, that commitment expanded with the acquisition of Hwang-DBS Commercial Bank and its merger with Kredit MFI, forming what is today Phillip Bank Plc. The Bank’s shareholders’ funds now exceed $179 million, reflecting its long-term confidence in Cambodia’s economic potential and continued growth.
Together with Phillip Trustee, Phillip Insurance and Phillip Life Assurance, the Bank forms a comprehensive ecosystem that offers retail, SME, corporate, and transaction banking solutions — supported by Singaporean standards of governance and local understanding.
Beyond innovation, Phillip Bank’s Priority Banking takes a holistic approach to financial management, looking beyond interest rates to offer customers personalised solutions through its local and regional network. By connecting clients to the expertise of the PhillipCapital Group, the Bank helps them better plan, grow and safeguard their finances for the future.
“As a Singaporean financial group with deep roots in Cambodia, we are guided by the same principles that define Singapore’s financial system — integrity, prudence and a long-term view,” said Ong Teong Hoon, Shareholder Representative of Phillip Bank Plc.
“These values drive us to build trust through transparency and to help our customers achieve lasting prosperity.”
As Phillip Bank continues to grow, it remains focused on empowering stakeholders through trusted and forward-looking financial solutions, combining Singaporean excellence with deep local understanding to build a holistic ecosystem that drives inclusive growth across Cambodia.
