Cambodian Economy Reviews

Cambodia’s leading commercial bank, ACLEDA, has signed a memorandum of understanding with State-own electricity provider, Electricity du Cambodge (EdC), on August 17 at Raffles Hotel Le Royal in a purpose to provide the bank’s costumers in Phnom Penh and Kandal province to pay their electricity bills through Automatic Teller Machines (ATMs).
The ceremony of signing a [...]

AN increase in the volume of loans not repaid on time and greater lending caution led to a 54 percent drop in second-quarter profits at ACLEDA Bank, President and CEO In Channy said Monday.
Unaudited quarterly financial statements released by the bank last week showed profit after income tax dropped 54 percent to US$1.34 million over [...]

A NUMBER of leading banks have reported a rise in deposits in the first six months of the year compared with the same period last year.
They said the reasons were two-fold. Firstly, clients are turning to quality institutions to manage their deposits, and secondly, the economic crisis means people are saving rather than investing.
The banks [...]

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 the [...]