Yes, Panda Commercial Bank in Cambodia is effectively closed. The National Bank of Cambodia (NBC) ordered the immediate suspension of Panda Commercial Bank, citing a “deteriorating financial situation” that left the lender unable to sustain operations. Khmer Times
The NBC issued a formal order for Panda Commercial Bank to cease its banking operations and enter an official liquidation phase, with its banking licence effectively terminated as of February 2026. Cambodiainvestmentreview
There’s also a broader context to the closure. The bank had reported links to a sanctioned firm accused of laundering billions of dollars for scam networks, with overlapping senior leadership between Panda Bank and Huione Pay, the former online banking arm of Huione Group, which the United States sanctioned for allegedly laundering funds from cryptocurrency scams and North Korean hackers. CamboJA News
Panda Bank became the second bank in Cambodia to have its licence revoked in 2026, following the earlier closure of Prince Bank. Phnom Penh Post
If you had deposits there, the NBC has asked Panda Bank deposit customers to prepare the necessary documents to withdraw their funds, which will be processed in accordance with the Law on Banking and Financial Institutions. Khmer Times