Bank ProfileFacts & FiguresHistory

History

With the ILO and UNDP as godparents, ACLEDA was established in January, 1993, as a national NGO for micro and small enterprises development and credit by a group of founders below. From its earliest days it enjoyed the support of a number of major international development agencies whose contribution is gratefully acknowledged in our 'Roll of Honour.' Two factors, namely expansion of its network to cover all of Cambodia’s provinces and towns and its ability to operate at a profit to ensure its sustainability, led both its board and international partners to conclude that it should be transformed into a commercial bank. This would not only provide a secure regulatory framework lacking under its previous status but would enable it to enlarge its range of funding options (e.g. equity injection, taking public deposits, obtaining commercial interbank loans) to support expansion of its core micro-finance business. With assistance from USAID, MPDF/IFC and UNDP—to name a few—a three year program for transformation commenced in 1998 which culminated in the granting of a specialised banking license in October, 2000.

Under the process, the original NGO has transferred its assets and on-lent its liabilities (long term loans from donors) to the new ACLEDA Bank. In return, it has received 44.91% of the bank’s capital of US$4 million; the ACLEDA Staff Association (‘ASA’), a trust established to give its staff an equity interest, has purchased 6.09% and the remaining 49% has been taken up in equal parts by four foreign investors, namely the International Finance Corporation (a division of the World Bank), DEG (Germany), FMO and Triodos Bank (The Netherlands). It is intended that ACLEDA Bank will seek a listing on a stock exchange at some time in the future.

Since December 01, 2003, ACLEDA Bank was licensed as a Commercial Bank after having tripled its capital to US$13 million, and was named ACLEDA Bank Plc. On November 30, 2006, ACLEDA Bank raised its issued and paid-up capital from US$13 million to US$30 million. On January 04, 2008, ACLEDA Bank celebrated its fifteenth anniversary and raised its issued and paid-up capital from US$30 million to US$50 million.

On January 23, 2009, the capital of ACLEDA Bank Plc. was increased from US$50 million to US$60 million and further increased on June 12, 2009 to US$68.15 million. On June 03, 2011 the bank increased its capital to US$78,372,500 and further increased to US$88,372,500 on February 06, 2012. Its current shareholders structure has been changed as follows:

ACLEDA has enjoyed rapid expansion of its business achieving an average portfolio growth rate of 47% p.a. since 2000. By the end of 2011, ACLEDA Bank total assets US$1,487 million with market share around 23.5% amongst total lending and 22% of total deposits and counting. It currently has loan portfolio of US$1103.15 million to more than 286,191 borrowing customers of which 54.90% are women. It employs 7,224 staff in 234 branches and offices in all provinces and towns in The Kingdom of Cambodia.

ACLEDA Bank's external auditor is KPMG Cambodia Ltd and its legal advisor is Sciaroni & Associates.

Beside of Credits and Savings services ACLEDA Bank has provided Funds Transfers Services locally and internationally through Western Union^® and SWIFT (Society Worldwide for Interbank Financial Telecommunication). We also offer E-Banking, Trade Finance including Documentary Collection, Documentary Credit, Bank Guarantee, and more and Cash Management Services including Foreign Exchange, Standing Order / Direct Debit, Supplier Payment, Cash Consolidation Accounts, Payroll Service, Bank Confirmation, Cashier's Cheque, Distributor / Cash Collection, Traveller's Cheque, Foreign Cheque Purchasing Services, Bank Draft, Safe Box Service, Tax Payment Service, and much more.

ACLEDA’s Headquarters is located in Phnom Penh and in addition it maintains a branch network covering Phnom Penh, Banteay Meanchey, Battambang, Kampong Cham, Kampong Chhnang, Kampong Speu, Kampong Thom, Kampot, Kep, Kandal, Koh Kong, Kratie, Mondulkiri, Otdar Meanchey, Pailin, Preah Vihear, Prey Veng, Pursat, Rattanakiri, Siem Reap, Sihanouk, Stung Treng, Svay Rieng, and Takeo provinces.

Since July 2008 ACLEDA Bank established its first international subsidiary commercial bank in Lao PDR, headquartered in Vientiane and later had two more branches in Savannakhet and Champasak.

The table above displays our branch network expansion history, and we will expand our branch network to serve all customers throughout the country.

List of Founders 

The founders of ACLEDA management and staff alphabetically named below met at Local Economic Development Agencies (LEDA Phnom Penh), Khan Russey Keo on January 19th, 1993 and formed its First General Assembly of ACLEDA and voted for the establishment of Association of Cambodian Local Economic Development Agencies (ACLEDA) on the same date.

• Mr. Cheam Teang
• Mr. Chhay Soeun
• Mrs. Dav Vandy
• Mr. Ek Don
• Mr. Hoeung Ousaphea
• Mr. Hong Setha
• Mrs. Ieng Phalla
• Mr. In Channy
• Mr.Keo Nupparath
• Mr. Keo Chamroeun
• Mrs. Ly Thida
• Mr. Lay Chham
• Mr. Lem Saroun
• Mr.Mak Sokha
• Mr.Neou Saroeun
• Mr. Ngim Khemrith
• Mrs. Proeun Makpreng
• Mr. Sao Roeun
• Mr.Sar Roth
• Mr. Sok Chanrithy
• Mrs. Sorn Socheat
• Mr. Soy Saroeun
• Mr. Sun Bunthan
• Mr. Suong Seng Huat
• Mr.Ung Bunthan
• Mr. Um Sarin
• Mr. Vann Saroeun
• Mr. Voeung Sunly

Roll of Honour 

We gratefully acknowledge the following organisations whose support was indispensable to establishing the foundation on which ACLEDA Bank Plc stands today.

(In alphabetical order)

• Agence Française de Développement (AFD)
• Cambodia Rehabilitation and Regeneration (CARERE)
• Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH
• German Federal Ministry of Economic Cooperation and Development & Kreditanstalt für Wiederaufbau (KfW)
• International Finance Corporation (IFC)/Mekong Private Sector Development Facility (MPDF)
• International Labour Organisation (ILO)
• Japanese WID Fund
• Programme de Réhabilitation et d'Appui au Secteur Agricole du Cambodge (PRASAC)
• Shell Company of Cambodia Limited
• Swedish International Development Cooperation Agency (SIDA)
• The Government of New Zealand
• United Nations Development Programme (UNDP)
• United Nations Population Fund (UNFPA)
• United States Agency for International Development (USAID)

Our Headquarters So Far