Wing Bank’s Digital Revolution: From Humble Beginnings to a Cashless Cambodia
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When Wing Bank opened its doors in 2008, Cambodia’s financial landscape was a different world. Despite 27 commercial banks operating in the country, banking penetration remained in single digits. For millions of Cambodians—especially those in rural areas—sending money home was a challenge. Wing Bank stepped in to fill that gap.
From Struggles to Success
Initially focused on fund transfers, Wing allowed workers in Phnom Penh to send wages safely and conveniently. But the journey was far from easy. The company posted losses in its first few years and was acquired by Neak Oknha Kith Meng, Chairman & CEO of Royal Group of Companies, for just USD 1 in November 2011. It finally turned profitable in 2013—a turning point that set the stage for its transformation.
.JPG?itok=1xNokwBz "In December 2023, Wing Bank Tower—the head office of Wing Bank—was inaugurated as an iconic landmark on Phnom Penh’s skyline")
Fast forward to late 2020: Wing Bank earned the trust of the National Bank of Cambodia and secured a commercial banking license, unlocking the ability to offer a full suite of financial services.
Today, the numbers tell the story—over USD 3 billion in deposits, nearly USD 4 billion in assets, and a network of nearly 30 branches, 12,000 agents, and 200 master agents that make Wing Bank omnipresent across the country.
According to the National Bank of Cambodia’s 2024 report, Wing Bank ranks fifth in total assets, sixth in deposits, and tenth in loans, cementing its position among Cambodia’s top financial institutions.
Driving Cambodia’s Cashless Future
Wing Bank’s mobile app has become a game-changer in Cambodia’s financial landscape. More than just a payment tool, the app addresses over 100 different customer needs—from paying bills and applying for loans to making deposits, repaying credit, paying insurance and more—all without stepping into a branch.
Wing Bank’s Digital Payroll, holding 40% market share, enables workers to manage salaries and support families via its app. Even remote villagers access cash through agents, ensuring nationwide financial inclusion.
Backing Cambodia’s SMEs
In December 2025, Wing Bank pledged USD 500 million to support SMEs and startups, partnering with Cambodia’s Ministry of Women’s Affairs, the General Department of Customs and Excise of Cambodia, and the Ministry of Industry, Science, Technology & Innovation.
“We’re not just financing businesses—we’re building a stronger, more inclusive, and innovative economy for Cambodia,” said Dr. Dmytro Kolechko, Wing Bank CEO.
With nearly three decades of extensive experience driving the banking industry across global markets, Dr. Kolechko took the helm at Wing Bank in late 2024 and is leading the bank to new heights.
“Wing Bank’s growth is not just a success story for us—it’s a reflection of Cambodia’s resilience and ambition. As the country embraces digital innovation, we see a future where financial inclusion drives national progress.”
Cambodia’s 753,000 MSMEs employ nearly 3 million people, 60% of them women, and contribute 63% of GDP.
Banking Without Borders
Wing Bank’s ambitions extend beyond Cambodia, partnering with CIMB Singapore to enhance cross-border services—streamlining trade finance, remittances, and wealth management for SMEs and high-net-worth clients.
Cambodia-Singapore trade hit USD 103 million in 2024, up 101% year-on-year. This alliance promises to accelerate that growth, bridging two dynamic economies and driving ASEAN integration.
From a humble remittance service to a top-five bank, Wing Bank’s story mirrors Cambodia’s economic evolution. Its digital-first approach, global partnerships, and commitment to inclusion position it as a catalyst for the country’s next chapter of growth.
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