The banking and financial industry has remained strong with the modest growth in both loans and deposits in the first half of 2024, despite uncertainties on global economic growth. Outstanding loans increased by 2.6 percent year-on-year to US$58.9 billion by June this year, while customers' deposits rose by 13.4 percent to US$51.9 billion, the biannual report of the National Bank of Cambodia (NBC) stated on Friday. The loans are for key sectors, comprising trade, housing, construction and real estate, agriculture, hotels and restaurants, and manufacturing, among others. Non-performing loans (NPLs) at the banks and the microfinance institutions were at controllable rates of 6.8 percent and 8.3 percent, respectively, it added. NBC Governor H.E. Dr. Chea Serey attributed the growth of the banking and financial industry to the cooperation of banking and finance in compliance with prudent regulations and continued to strive to maintain stable credit interest rates. 'Banking system continues contributing to m acro-economic and financial stability as well as playing a key role in supporting the economic growth,' she said. Cambodia has 59 commercial banks, nine specialised banks, 87 microfinance institutions, and 115 rural credit institutions across the country, with 21.3 million deposit accounts and 4 million credit accounts, the report said. Source: Agence Kampuchea Presse