Prince Bank Appoints New Chairman and CEO
Phnom Penh, December 19, 2024 – Prince Bank, a leading financial institution in Cambodia, is pleased to announce the appointment of Mr. Honn Sorachna as its new Chairman of the Board and Mr. Looi Kok Soon as Chief Executive Officer, effective Dec 17, 2024.
Mr. Honn Sorachna, who was previously the CEO of Prince Bank, brings extensive experience and expertise to this role and has been instrumental in the establishment of Prince Finance PLC in 2015. In his new role, Mr. Honn Sorachna will focus on steering Prince Bank’s strategic direction and strengthening its corporate governance framework.
“I am honored to continue my journey with Prince Bank in this new role as we celebrate our 10th anniversary, and look forward to collaborating with the Board and leadership team. Together, we aim to sustain our legacy of innovation and deliver exceptional value to our customers and stakeholders,” said Mr. Honn Sorachna.
Mr. Honn Sorachna replaces Neak Okhna Chen Zhi who will step down as Chairman effective December 17, 2024. Neak Okhna Chen Zhi will continue to play a pivotal role for the bank as he will now focus even more on driving the business growth of Prince Holding Group.
“The bank takes great pride in upholding and maintaining the highest of standards in corporate governance, which is evident from the recent awards from International Finance Magazine, World Economic Magazine and International Finance Magazine for Best Corporate Governance Bank 2023, in addition to the coveted awards from AsiaMoney and International Banker is a recognition of our outstanding corporate governance practices and the bank as a whole over the past 10 years,” explained Mr.. Honn Sorachna.
Meanwhile, Mr. Looi Kok Soon, a visionary leader with deep expertise in financial services, assumes the role of CEO to guide Prince Bank into its next phase of growth. He has held various leadership positions in distribution and operations at OCBC Bank Malaysia, EON Bank Malaysia, and Standard Chartered Bank in Southeast Asia (SEA) before leading his own renewable energy business. As the CEO, he will be responsible for enhancing the Bank’s customer experience and delivering transformative financial solutions.
“This is an exciting opportunity to lead Prince Bank as we expand our footprint and solidify our position as a leading financial institution in Cambodia. I am committed to empowering our teams and fostering a culture of excellence to achieve our strategic goals,” commented Mr. Looi Kok Soon.
The appointments of Mr. Honn Sorachna and Mr. Looi Kok Soon reflect Prince Bank’s dedication to strong leadership, innovation, and sustainable growth. This development also marked a significant milestone for Prince Bank as it becomes the first bank in Cambodia to be governed entirely by a Non-Executive Independent Board, which also includes Tan Sri Muhammad Ibrahim, an ex-Governor of Bank Negara Malaysia, Malaysia’s national bank.
Prince Bank, established in 2015, proudly celebrates a decade of trust, growth and excellence in Cambodia’s financial landscape. Over the past 10 years, it has dedicated itself to building a strong foundation of trust with their customers, driving governance, innovation and delivering exceptional banking solutions tailored to the evolving needs of the community.