Phnom Penh, Cambodia – KB PRASAC Bank Plc. and Smart Axiata Co., Ltd. have signed a Memorandum of Understanding (MoU) to establish a strategic partnership aimed at advancing Cambodia’s digital ecosystem through enhanced digital payment solutions, innovative financial services, and digital connectivity initiatives for businesses and consumers across the Kingdom.
The MoU signing ceremony was held at Hyatt Regency Phnom Penh on Thursday, November 5, 2026. The MoU was signed by Mr. RY Vanna, President and Chief Executive Officer of KB PRASAC Bank, and Mr. Ritesh Kumar Singh, Chief Executive Officer of Smart Axiata, under the witness of Mr. Jongmin LEE, Chairman of the Board of Directors of KB PRASAC Bank, along with management representatives and distinguished guests from both organizations.
The partnership brings together KB PRASAC Bank’s extensive financial expertise and nationwide banking network with Smart Axiata’s leadership in digital connectivity, enterprise solutions, and digital innovation. Through this collaboration, both organizations aim to create more seamless and accessible digital experiences while supporting Cambodia’s ongoing digital transformation agenda.
Under this strategic partnership, both parties will explore opportunities for collaboration across various key areas: Payment and Digital Ecosystem Partnership; Corporate Banking, Payroll and Employee Banking Services; Loans Opportunities; and Digital and technology expertise by Smart.
Through this collaboration, both parties will explore opportunities to enhance customer convenience through the integration of Smart’s digital services and KB PRASAC’s financial innovation, enabling eligible customers to conveniently access the services from both giants of their respective fields.
In addition, the partnership aims to expand corporate banking with access to preferential banking services, including payroll accounts, loans, credit cards, and other financial solutions under agreed terms and conditions. Both parties will also explore potential innovative solutions and financing opportunities to support business growth and financial accessibility.
Furthermore, the two organizations will explore cooperation through Smart Axiata’s telecom expertise in digital connectivity, enterprise solutions, and digital innovation, with an initial phase to focus on establishing connectivity for selected KB PRASAC Bank branches, laying the foundation for broader digital infrastructure collaboration in the future.
Through joint marketing activities, customer engagement initiatives, and the integration of banking and telecommunications services, this partnership is expected to create greater convenience, improve customer experiences, and unlock new business opportunities for both organizations.
This strategic collaboration underscores the shared commitment of KB PRASAC Bank and Smart Axiata to drive innovation, accelerate digital adoption, and create greater value for customers. By combining financial services and digital connectivity, both organizations aim to contribute to a more inclusive, connected, and digitally empowered Cambodia.
Mr. Ry Vanna, President & CEO of KB PRASAC Bank, said:
“We are delighted to establish this strategic partnership with Smart Axiata, one of Cambodia’s leading telecommunications and digital service providers. By combining KB PRASAC Bank’s financial expertise and nationwide banking network with Smart’s strong digital connectivity and technological capabilities, we see significant opportunities to deliver more convenient, accessible, and innovative solutions to our customers and business partners. Through this collaboration, we aim to advance digital payments, expand financial services, and explore new opportunities in digital banking and business financing. We believe this partnership will create meaningful value for both organizations while contributing to Cambodia’s digital transformation and the development of a more connected and inclusive digital economy.”
Mr. Ritesh Kumar Singh, Chief Executive Officer of Smart Axiata
“At Smart, we believe meaningful partnerships are essential to accelerating Cambodia’s digital future. This collaboration with KB PRASAC Bank brings together trusted financial services and reliable digital connectivity to create more seamless experiences for customers and businesses. As more financial services move online, strong and secure connectivity plays an increasingly important role in enabling access, transactions and innovation. Together, we see strong potential to advance digital payments, strengthen the digital ecosystem and contribute to the continued growth of Cambodia’s digital economy.”
About KB PRASAC Bank Plc.
KB PRASAC Bank Plc. is one of Cambodia’s leading commercial banks, backed by KB Kookmin Bank, South Korea’s leading financial institution and the sole shareholder of KB PRASAC Bank. The Bank provides a comprehensive range of financial services to individuals, businesses, and corporate customers through its extensive nationwide network and digital banking platforms. KB PRASAC Bank continues to deliver convenient, secure, and innovative financial solutions to support customers and contribute to Cambodia’s economic development.
About Smart
Smart Axiata, a subsidiary of Axiata Group Berhad (Malaysia), is a digital telecommunications and ICT solutions provider delivering expansive 5G connectivity and integrated digital services across Cambodia, serving over 8 million subscribers. As a comprehensive mobile and technology brand, Smart is advancing Cambodia’s digital future by driving productivity, enriching digital lifestyles, and enabling inclusive economic participation: Embedding sustainability into its strategy through responsible network expansion, digital inclusion initiatives, operational excellence, and continuous innovation.
Backed by Axiata Group Berhad, one of Southeast Asia’s foremost telecommunications groups and partially owned by a sovereign wealth fund, Smart operates with robust governance standards, international best practices, and a long-term value creation mindset. This strong foundation reinforces its commitment to responsible growth and meaningful impact, contributing to Cambodia’s digital advancement, social progress, and sustainable economic development.
