Acleda Bank Plc’s net profit rose 4.8 percent to $48.8 million in its fourth quarter ended December 31, 2022 (4Q22) from $46.6 million a year ago, with net interest income up 12.9 percent at $106.6 million.

The increase was mainly due to a strong growth in interest income, fee and commission income, which also pulled up revenue (total sales) and operating profit by 19.4 percent and 22.03 percent to 804.2 billion riel ($195.7 million) and 522.1 billion riel ($127.1 million), respectively.

According to its filing with Cambodia Securities Exchange, the non-performing loan ratio rose to 2.9 percent for the quarter as total loan outstanding stood at $6.4 billion (26.4 trillion riel).

Return on average equity and return on average assets for the fourth fiscal quarter slipped marginally to 0.56 percent and 3.8 percent from a year ago.

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Meanwhile, Acleda’s full financial year ended December 31, 2022 (FY22) revealed the largest gains ever in net profit, rising 9.08 percent to $181.8 million compared to $166.7 million in FY21.

Net interest income stood at $445 million as opposed to $401.4 million last year, its filing with Cambodia Securities Exchange today showed.

Revenue for FY22 climbed 17.4 percent to 3.04 trillion riel ($739.8 million) while operating profit grew 19.7 percent to 1.8 trillion riel ($446.7 million) from the corresponding period last year.

Total assets expanded 15 percent from a year ago to its record highest at $9.03 billion in FY22.

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Responding to questions, Acleda senior executive vice president Mar Amara said the bank’s positive growth is linked to its upgrade on the core banking system and continued improvements on system and self-operating functions.

Last year, it also signed agreements with business partners to provide customers with the “most convenient, multitudinous and outstretched” with the highest secured electronic banking services.

“The bank successfully upgraded its core banking system and continued to improve many functions of self-service operations on ACLEDA mobile, QR code, ATMs, and POSs in line with the customers’ needs and the evolution of digital technology.

“In the meantime, Acleda expanded its 125 self-service banking – 51 locations in Phnom Penh and 74 locations in provinces – adding to its existing 264 branches,” Amara, who is also Acleda group chief financial officer.

It also equipped 1,140 ATMs, 4,358 POS machines, and QR codes based on customers’ requests for transactions of transfers and settlements in markets, shops, hotels, educational institutions, hospitals, travel agencies and gas stations in many parts of the country.

By the end of December 2022, Amara said the bank recorded around 200,000 business partners and 2.61 million ACLEDA mobile subscribers.

On Monday, the counter closed unchanged at 10,900 riel for a full market capitalization of 4.7 trillion riel ($1.1 billion).