SME Finance

ACLEDA Crowned SME Financier of the Year

ACLEDA Bank has scooped a second award at the Global SME Finance Forum 2022 for its work to help Cambodia’s SME sector grow, walking away with the title of SME Financier of the Year.
ACLEDA Crowned SME Financier of the Year. Photo supplied.
ACLEDA Crowned SME Financier of the Year. Photo supplied.

Cambodia’s leading bank, ACLEDA, scooped the prestigious “SME Financier of the Year” award at the conclusion of the three-day Global SME Finance Forum 2022.

The 9th Global SME Finance Forum 2022, which ended on September 21, was organized by the International Finance Corporation (IFC), a member of the World Bank Group, and co-hosted by the National Bank of Cambodia (NBC). The annual forum, attended by over 400 people from 60 countries, aims to expand access to finance for SMEs globally.

“ACLEDA Bank is so proud and honored to receive the Global SME Finance Award 2022 as SME Financier of the Year. It [means] that the bank has made a sustained commitment to serving the SME sector in Cambodia,” said a statement from the bank.

“Moreover, this achievement shows quantitative metrics of the bank’s portfolio growth in serving SMEs over several years, as well as qualitative specific products, services for SMEs,” the statement added.

According to ACLEDA, around 80 percent of its total loan portfolios were lent to SMEs. The loan portfolios for SMEs increased from $3.03 billion in 2019 to $3.53 billion in 2020 and up to $4.24 billion in 2021.

ACLEDA listed its shares on the Cambodia Securities Exchange (CSX) in May 2020, making it the country’s first commercial bank to be listed.

ACLEDA Bank Plc. is one of the oldest and largest banks in Cambodia. It has four subsidiaries. They are 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 June 2022, ACLEDA Bank Plc. had $8.34 billion in total assets; $6 billion in total credit balance; and $6.01 billion in total savings deposits, with more than 3.59 million customers. (Partnered Content)