Posts Tagged ‘ACLEDA’

ACLEDA launched 232nd brand

Posted by admin on May 3rd, 2010

Cambodia’s leading bank- ACLEDA bank- opened new brand in Battambang province on April 30, 2010 in order to meet customer service in that province.  Opening new brand was presided by provincial governor.

“Sustainability is a vital vision of ACLEDA bank. It was founded with such sustainability for 17 years ago to provide exclusive financial services for all- both private and public. This continues to be our guiding principle today throughout the 248 branches and offices in the Kingdom of Cambodia and the Lao PDR,” In Channy, president and CEO of ACLEDA bank, said during the grand occasion.

ACLEDA bank has 76 standard offices to provide the most comfortable and efficient facilities for its customers to conduct their financial transactions.

Recently, the bank has launched a top-up service suing mobile-mobile technology and service which allows customers to pay bill via mobile phone.

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MFIs loan increased 5.46 percent Q3

Posted by admin on November 18th, 2009

Cambodian Microfinance Association (CMA) released its figures that during the third quarter of this year, Cambodia’s microfinance institutions (MFIs), which included 21 MFIs and small loans from ACLEDA Bank, increased 5.46 percent to 448.1 million, following a 2.7 percent drop in outstanding loans in the second quarter.

According to CMA’s data, non-performing loans (NPLs) declined 1.9 percent over the period to 1.48 percent, or US$8.7 million.

“We have seen the economic situation begin to recover, and people have begun to expand their businesses, so they need capital again,” Hout Ieng Tong, CMA President, was quoted by the Post as saying.

“The slash of interest rates of between 0.2 and 0.5 percentage points by MFIs in early September was also a factor,” said he. He added that interest rates are currently between 1.5 and 2.8 percent per month at MFIs.

During this period, the total loans increased but the number of borrowers was down 14.7 percent to 883,087 down from more than 1 million three months earlier, according to the report.

The report show that CLEDA bank’s outstanding portfolio of small loans was up 5.49 percent to US$172.2 million, while the drop of its NPL ration was from 1.63 percent in 2nd quarter to zero at the end of the September of 2009.

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Mobile phone firm cooperated with commercial bank

Posted by admin on October 27th, 2009

Smart Mobile has cooperation with Cambodia’s leading commercial bank ACLEDA to offer credit top-ups at ATMs. The phone operator signed a deal with the bank in February.

Mobile service provider Smart Mobile (093/010) entered within the Cambodian telecoms market with a world-class team of telecommunications experts offering experience from across Cambodia and across the globe.

From today on, Smart Mobile’s subscribers will be able to recharge their cell phone balance through ACLEDA’s ATMs throughout the country 24 hours a day and 7 days a week without any service charge. The Phone operator setting up this new service is to make it easier for phone’s users to recharge the mobile phone balance.

According to the statement, in the near future top-up through ATM will be available at other banks as well.

Kiril Mankovsky, Smart Mobile’s Chief Marketing Officer, was quoted by the Post as saying that “Smart Mobile was in the final stage of negotiations with other banks in the Kingdom, but that it was not ready to make any formal announcements until the deals are signed.” (more…)

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Central bank warned of the rise of bad loans

Posted by admin on October 26th, 2009

Given the global financial crisis affecting Cambodia’s economy such as garment industry, tourism sector, construction and real estate, but the Cambodia’s banking sector is still inevitably hit by the crisis. Therefore, it is a cause for increasing in non-performing loans because the commercial banks’ borrowers have hard time to pay back loans while their business is difficult. In addition, that’s a second-round affect that the National bank is worried about.

National Bank of Cambodia Director General Tal Nay Im gave speech at the Cambodian Club of Journalism that non-performing loans at the commercial banks reached 5.2 percent by the end of May, 2009, up 1.8 percentage points from the beginning of the year. She warned the rate could reach as high as 10 percent by the end of the year.

Bad loan was on rise when bank’s borrowers struggled with repayments amid declining cash flow following the World economic recession. (more…)

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