The Shanghai Commercial & Saving Bank (SCSB), one of the leading banks in China's Taiwanese region, opened a representative office here on Monday thanks to increasing interest in Cambodia by Taiwanese business people, a bank official said.

Peter Hsu, chief of the SCSB representative office in Cambodia, said the bank's decision to open the office in Phnom Penh was made after it saw that Cambodia was an emerging country in Southeast Asia and its economy has seen sustainable growth in recent years.

"With the office here, the bank will collect information regarding Cambodia and provide financial consulting and service platform to our customers who want to expand their businesses into Cambodia," he said at the launching ceremony.

To date, Cambodia has six foreign banks' representative offices, 34 commercial banks, seven specialized banks, and 37 microfinance institutions, according the National Bank of Cambodia.

Trade volume between Cambodia and Taiwanese region was valued at 700 million US dollars last year, according to the SCSB press release.