Tag Archives: Acleda

Moody upheld Acleda bank rating

On Friday, 19 June, 2009, Moody, US-based global credit risk agency, confirmed in its statement that it has kept up the bank’s previous ratings mainly due to the role of Acleda’s shareholders, have has long-term focus and have demonstrated their support to the bank by providing equity and debt financing since its inception. According to … Continue reading

ACLEDA extended its branch to Kampot

Despite the global financial crisis, ACLEDA bank, leading commercial bank, still widened its operation across country. On Wednesday the bank opened up its new branch in Kampot province in order to tap into a considerable local market for small loans. It is the 14th branch standardizing like branches set up in Cambodia and Laos. Say … Continue reading

Banking on an economic crisis

EXACTLY one year after the subprime mortgage crisis first hit in the United States in July 2007, Cambodia’s central bank took measures to reduce liquidity in its undeveloped financial system by doubling reserve requirements from 8 percent to 16 percent. This move showed Phnom Penh was clearly out of sync with the world’s major financial … Continue reading

ACLEDA posts rise in loans, deposits in Laos

ACLEDA Bank has posted healthy first-quarter figures for its operations in Laos, a bank representative said Tuesday, with the Cambodian-owned bank recording large increases in both deposits and loans, defying the financial crisis. Yin Virak, ACLEDA vice president and head of the bank’s International Department, said the bank’s loans had more than doubled from US$1.2 … Continue reading

Liquidity to stay tight: IMF

THE International Monetary Fund (IMF) on Friday said banking sector liquidity would remain tight for the rest of the year in a statement on the Cambodian economy following a routine visit to the Kingdom that ended Wednesday. The IMF blamed “slowing external inflows” for the reduction in free capital in the banking system despite recent … Continue reading

Credit crunch hits MFIs

MICROFINANCE organisations said they expect slower growth and higher interest rates as the credit crunch hits foreign lenders who had been a key source of funding to local MFIs. The main threat, sources said, stems from the decrease in available capital as foreign backers trim their emerging market investments, leaving microfinancers less able to serve … Continue reading