Cambodia's central bank has installed a temporary administrator at Chief (Cambodia) Commercial Bank following the discovery of regulatory shortcomings at the institution.

In a statement dated September 21, the National Bank of Cambodia announced the appointment of Baker Tilly (Cambodia) as provisional administrator for a 90-day term, beginning immediately.

The administrator's role will be to examine the bank's financial health and operational practices, with findings to be submitted to the central bank. These results will inform the regulator's next steps regarding the institution's future.

Under the arrangement, Baker Tilly assumes full management and representational authority over Chief Bank's operations. This includes the power to temporarily halt certain deposit withdrawals and cut non-essential spending. Loan customers remain obligated to continue making their scheduled repayments.

The central bank directed anyone with inquiries about the administration to contact Baker Tilly directly at their Borey Elwing office, reachable at 023 987 100 or via email at info@bakertilly.com.kh.

The move comes amid a broader regulatory crackdown that began in late 2025, during which Cambodian authorities have intervened at multiple financial institutions over operational irregularities. Many of these cases have involved suspected connections to money laundering schemes and online fraud networks.

The regulatory sweep has already resulted in license revocations for several banks, including Prince Bank, Panda Bank, CCU Commercial Bank, Heng Feng (Cambodia) Bank, and HH (Cambodia) Bank.