238 branches and offices throughout Cambodia and 32 in Laos
ACLEDA Bank, the largest locally owned commercial bank in Cambodia, said it has raised its current registered capital by $72.5 million, to $185.6 million, for business expansion domestically and internationally. It is the tenth time the bank has done so. More…
Reposted from The Phnom Penh Post
Acleda Bank, the Kingdom’s largest, signed a memorandum of understanding (MoU) on Monday with UnionPay International Co Ltd, a Chinese-based payment services company.
In Channy, president and CEO of Acleda Bank, said this will provide a broader and more convenient service to his customers.
He said: “UnionPay International, which is one of the world leaders in payment services and is the number one payment and settlement institution in China, has selected us to be a strategic partner in payment services for our customers and Cambodian citizens with world-class payment services through Acleda Bank branches and offices, and especially through the 962 points of sale as well as merchants of Acleda Bank throughout Cambodia.” More…
Reposted from The Myanmar Times
By Myat Nyein Aye
Cambodian microfinance lender Acleda opened a wholly owned subsidiary in Myanmar on March 25, although the company has been operating since February 18, an official said.
The company, which will be called Acleda MFI Myanmar, has a five-storey office tower on Shwegondaing Road in Bahan township, a bank spokesperson said last week.
The spokesperson said Acleda was granted a permit to trade by the Directorate of Investment and Company Administration on September 6 last year, and has been licensed to carry out microfinance operations as a credit- and deposit-taking organisation on February 8. More…
“The rise is due to a sharp growth in domestic demand”
Cambodia spent about $200 million on food and beverage imports to supply the domestic market last year – an increase of more than 10 per cent from the previous year, official data from the Ministry of Commerce show. More…
“You just need to do your research, build good local teams and make the right deals” – Doug Clayton
PHNOM PENH, Cambodia — Investors started poking around for deals here five years ago, as the war-torn country began to move past its legacy of genocide and coups. When the global financial crisis struck, Cambodia’s fast-growing economy crashed and the dollars flowing from abroad evaporated. More…
Cambodia could see 7 to 10 companies on the stock exchange by the end of next year
PHNOM PENH—Cambodia’s stock market is set for a revival early next year when initial public offerings are expected by at least four local companies, ending a drought for a bourse that has hosted just one listing since its trading debut in April. More…
ACLEDA’s total loan portfolio is worth over $1 billion, about 23% of all the lending in the country
AN HOUR’S drive south of Phnom Penh, deep in rural Cambodia, Chrek Heang is doing the rounds of his rapidly expanding poultry and fisheries business. Just four years ago he was living, like most of his countrymen, in a small wooden hut with a tin roof, tending to 1,000 chickens. More…
Loan demand increasing in Cambodia
Acleda Bank has signed a $US10 million loan agreement with Proparco, a development finance instit-ution held in part by the Agence Francaise de Développement (AFD), according to a statement released on Wednesday. More…
Mom Pagnahei encourages Cambodians to consider life insurance for security.
Cambodia Life Insurance Company Plc plans to bundle services with banks to offer guarantees on mortgages, company representatives said. More…
Acleda Bank Headquarter in Phnom Penh, Cambodia
Some weeks ago I had a conversation with Douglas Clayton. We discussed Cambodia – The New Emerging Market, and it’s inevitable transformation from sleepy backwater into economic up-and-comer. It’s got a long way to go, but that’s why the opportunity is so intriguing.
In the course of the conversation we both commented on the fact that we seek to actively invest in markets which are uncorrelated to the indebted West. This has in fact been a core strategy for Leopard Capital, of which Doug is the founder and CEO. More…
