ACLEDA Bank Plc. this week celebrated another landmark milestone after becoming Cambodia’s first bank to provide custodian services.
The move was made official at the Handover Ceremony of Certificate of Acknowledgement of the Custodian Agent in Security Sector from the Securities and Exchange Regulator of Cambodia (SERC).
“The Bank has become the first commercial bank in Cambodia listed on the Cambodia Securities Exchange (CSX) on 25 May 2020,” said Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc.
He added, “In this remarkable year 2022, the bank has achieved its aspiration by obtaining the Certificate of Acknowledgement of the Custodian Agent in Security Sector from the SERC.”
ACLEDA is now Cambodia’s first commercial bank to provide custodian services in the securities sector.
In Cambodia, the securities market is an indicator of economic growth. Dr. Channy said, “The securities sector in Cambodia has grown markedly, which is a crucial factor in deciding to develop such services. The Custodian Agent is a new service of the bank to provide custodian services in the securities sector. The main functions of the custodian services in the securities sector consist of Cash Custody Account, Securities Custody Account, and Services of Custodian Agent.”
Through the bank’s Custodian Agent Service provider, ACLEDA will play a pivotal role in attracting investors, in particular foreign investors to invest in the securities sector in Cambodia. The requirements of these foreign entities’ securities investment overseas has to be made through a custodian agent. Further, it will take part in making Cambodia’s securities market more active.
He added, “Building trust is a vital factor for investors who may need to use such services from a trusted agent. ACLEDA Bank is the most trusted bank in Cambodia, and we at all times observe and respect the highest principles, including but not limited to code of conduct, good governance, society, laws, and the environment."
ACLEDA is a digital bank equipped with modern qualified technologies to support these services and has professional human resources, equipped with profound knowledge and skills in providing such services, and are adherent to rules, transparency, and ethics.
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About ACLEDA Bank Plc.
ACLEDA Bank Plc. has four subsidiaries: ACLEDA Institute of Business, ACLEDA Securities Plc., ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd., as well as representative offices in the Republic of the Union of Myanmar. By March 2022, ACLEDA Bank Plc. had $8.16 billion in total assets, $5.79 billion in total credit balance and $5.90 billion in total saving deposits, with more than 3.44 million customers.
For more information, contact:
Mr. Sok Sovady
SVP & Head of Operations Division
E-mail: sovady@acledabank.com.kh
Tel: 015 900 178
