ACLEDA BANK PLC
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Acleda Bank is a leading commercial bank and around 20% market share of deposits and 21% in credit in Cambodia. It is a front-runner in terms of products and services including E-banking, mobile banking, pay-roll services and domestic and international money transfer. Furthermore, Acleda Bank has an extensive network and a long-standing, good reputation with a loyal client base. Its unique position allows Acleda Bank to collect deposits at only 2-3% compared to 5-9% for other commercials banks and MFIs. It was founded by International Labour Organisation and United Nations Development Programme as a local microfinance NGO in 1993. It became a fully operational commercial bank in 2000 and quickly emerged as the market leader by mainly serving micro and small enterprises. Today, Acleda Bank provides general banking services to microfinance and SME clients with 26% of the loan portfolio committed to micro/retail clients and 74% to small and medium enterprises.
What is our funding objective?
The loan will be used to expand ACLEDA's MSME portfolio, thereby contributing to the job creation and access to long term funding to MSME clients in Cambodia. One of the key strengths of the Bank lies in its large and solid depositors base, supported by 253 branches. products offered while maintaining a healthy profit margin.
Why do we fund this investment?
FMO finances Acleda Bank because of its focus on the MSME sector, its excellent market position and performance and the good relationship between FMO and Acleda Bank for many years. From a total syndicate of US$ 102mln, US$ 87mln has been syndicated to seven parties, out of which five were totally new to ACLEDA.
More investments
| Date | Total FMO financing |
|---|---|
| 11/14/2018 | USD 15.00 MLN |
- Region
- Asia
- Country
- Cambodia
- Sector
- Financial Institutions
- Effective date
- 8/4/2015
- End date
- 6/18/2020
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C