Prince Bank grew out of a 2015 microfinance operation into a commercial bank in 2018 under Prince Group, the conglomerate of Sino-Cambodian billionaire Chen Zhi. At its peak it managed nearly USD 1 billion in assets across 36 branches in Cambodia.
In October 2025 the United States and Britain sanctioned Prince Bank, Chen Zhi and 146 other entities under Prince Group, describing the group as a transnational criminal organization running online-scam operations. The bank's systems went offline and transfers with other lenders stalled as it was cut off from the US financial system.
On January 8, 2026, two days after Chen Zhi was arrested and extradited to China, the National Bank of Cambodia suspended all new banking services and placed Prince Bank into liquidation, citing systemic risk and an inability to maintain solvency. Auditor Morrisonkak MKA was appointed to control its operations and assets and wind the bank up.
The liquidation exposed roughly 200,000 customers to potential losses; Cambodia's deposit insurance fund covers only up to USD 500 per depositor.
The bank's fate was tied to one founder's empire; sanctions cut off US access, and his arrest triggered liquidation, with insurance covering only $500 per depositor.
The bank's fortunes were tied to a single founder and his conglomerate; once US/UK sanctions hit the group, the bank lost access to the US financial system and with it its solvency.
Operating as the financial arm of one empire concentrated founder and group risk so heavily that the founder's arrest pulled the license and the deposit base down with him.
A lender built around one founder's empire carries that person's risk on its balance sheet — when the individual is sanctioned or arrested, the deposits and the license can go with them.
Morrisonkak MKA was to inventory assets, reimburse priority depositors and pursue debtors; NBC said customers could still withdraw funds by preparing the required documents.
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