PHNOM PENH, June 15 -- Bangkok Bank, one of the largest commercial banks in Thailand, on Monday launched its operations in Cambodia again after a 15-year absence, officials said.

The bank downsized its business operations in Cambodia in late 1998 and pulling out of the country in 2000.

Chea Chanto, Governor of the National Bank of Cambodia (NBC), or Central Bank, said the re-opening of the bank in Cambodia truly reflected the confidence of investors in the kingdom's banking sector.

"The second presence of Bangkok Bank after its temporary closure will build further confidence of investors in Cambodian banking system, help sustain the development of banking system and contribute more effectively to the national economic growth," he said at the re-opening ceremony of the bank.

"I believe that through the bank, more Thai investors will come to invest in Cambodia," he said, adding that Bangkok Bank became the fourth Thai bank, and the 37th commercial bank operating in Cambodia.

Kosit Panpiemras, executive chairman of Bangkok Bank, said the bank would provide a complete range of financial services to all customers, particularly Thai investors and business people in Cambodia.

"We believe that it is the right time to invest in Cambodia-- the country that has enjoyed robust economic growth for the last two decades," he said. "The bank will contribute further to boosting trade and investment relations between Thailand and Cambodia."

He said the bank's Cambodian branch began operations with the investment capital of 50 million U.S. dollars.

Darm Boontham, Charge d' Affairs of the Thai Embassy to Cambodia, said Thailand and Cambodia had enjoyed good trade and investment ties for years.

The bilateral trade volume topped 5 billion U.S. dollars last year, while Thai investment in Cambodia had reached nearly 1 billion U.S. dollars as of last year, becoming Thailand the 8th largest investor in Cambodia, he said.

"The bank's presence in Cambodia will certainly encourage Thais and Cambodians to venture into doing more business with each other, so it will contribute to the growth of trade and investment between the two neighboring countries," he said.

With the population of nearly 15 millions, Cambodia's banking and finance industry consists of 37 commercial banks, 11 specialized banks, and 40 microfinance institutions, according to the NBC.