ACLEDA Bank, one of Cambodia’s largest banks, today revealed it has been crowned the “Best Bank Partner for SMEs in EAP Award” by Washington DC-based International Finance Corporation (IFC), which is a member of the World Bank Group.
The award was announced at the 9th Global SME Finance Forum 2022, organized in Phnom Penh from September 19 to 21 by IFC and co-hosted by the National Bank of Cambodia (NBC), with the aim of expanding access to finance for SMEs globally.
“ACLEDA Bank is so proud and honored to receive the Best Bank Partner for SMEs in EAP Award from the IFC,” said the bank’s statement.
“The bank has worked closely with SMEs and provided them with a wide range of financial products, in particular a convenient and safe EBS and digital services to meet their needs. Moreover, ACLEDA Bank has mostly financed SMEs to take part in the sustainable development of SMEs at large,” the statement continued.
Lending to SMEs has been the bank’s main priority, according to In Channy, ACLEDA’s president and group managing director. SME loans represent 80 percent of its total loans of $6 billion, and grew at 20 percent in 2021 compared with the previous year.
ACLEDA Bank Plc. is one of Cambodia’s 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)