Our History
With the ILO and UNDP as godparents, ACLEDA was established in January, 1993, as a national NGO for micro and small enterprises development and credit. From its earliest days it enjoyed the support of a number of major international development agencies whose contribution is gratefully acknowledged in our 'Roll of Honour', below. Two factors, namely expansion of its network to cover all 24 of Cambodia’s provinces/towns and its ability to operate at a profit to ensure its sustainability, led both its board and international partners to conclude that it should be transformed into a commercial bank. This would not only provide a secure regulatory framework lacking under its previous status but would enable it to enlarge its range of funding options (e.g. equity injection, taking public deposits, obtaining commercial interbank loans) to support expansion of its core micro-finance business. With assistance from USAID, MPDF/IFC and UNDP—to name a few—a three year program for transformation commenced in 1998 which culminated in the granting of a specialised banking license in October, 2000.
Under the process, the original NGO has transferred its assets and on-lent its liabilities (long term loans from donors) to the new ACLEDA Bank. In return, it has received 44.91% of the bank’s capital of US$4 million; the ACLEDA Staff Association (‘ASA’), a trust established to give its staff an equity interest, has purchased 6.09% and the remaining 49% has been taken up in equal parts by four foreign investors, namely the International Finance Corporation (a division of the World Bank), DEG (Germany), FMO and Triodos Bank (The Netherlands). It is intended that ACLEDA Bank will seek a listing on a stock exchange at some time in the future.
Since December 01, 2003, ACLEDA Bank obtained license as a Commercial Bank after it triples its capital to US$13 million, and is named ACLEDA Bank Plc. On November 30, 2006, ACLEDA Bank has raised its issued and paid-up capital from US$13 million to US$30 million. On January 04, 2008, ACLEDA Bank celebrated its fifteenth anniversary and has raised its issued and paid-up capital from US$30 million to US$50 million. Its current shareholder structure has been changed as follows:
| Shareholder | Number of Share | US$ | Ownership (%) |
|---|---|---|---|
| ACLEDA NGO | 18,177,000 | 18,177,000 | 36.35 |
| ASA, Inc. | 7,323,000 | 7,323,000 | 14.65 |
| DEG | 6,125,000 | 6,125,000 | 12.25 |
| FMO | 6,125,000 | 6,125,000 | 12.25 |
| IFC | 6,125,000 | 6,125,000 | 12.25 |
| Triodos Doen | 3,071,750 | 3,071,750 | 6.14 |
| Triodos Fair Share Fund | 3,053,250 | 3,053,250 | 6.11 |
| Total | 50,000,000 | 50,000,000 | 100.00% |
ACLEDA has enjoyed rapid expansion of its business achieving an average portfolio growth rate of 54% p.a. since 2000. By the first half 2008, ACLEDA Bank total assets exceeded US$641 million with market share around 20% amongst total lending and 16% of total deposits and counting. It currently has loan portfolio of US$463 million to more than 201,407 borrowing customers of which 58.06% are women. It employs 5,820 staff in 219 branches and offices in 24 provinces/towns in The Kingdom of Cambodia.
ACLEDA Bank's external auditors are PricewaterhouseCoopers and its legal advisors are Sciaroni & Associates.
Beside of Credit and Savings products ACLEDA Bank has provided Funds Transfers Services locally and internationally through Western Union® and SWIFT (Society Worldwide for Interbank Financial Telecommunication). We also offer Trade Finance including Documentary Collection, Documentary Credit, Bank Guarantee, and more and Cash Management Services including Foreign Exchange, Standing Order / Direct Debit, Supplier Payment, Cash Consolidation Accounts, Payroll Service, Bank Confirmation, Cashier's Cheque, Distributor / Cash Collection, Traveller's Cheque, Foreign Cheque Purchasing Services, Bank Draft, Safe Box Service, Tax Payment Service, and much more.
ACLEDA’s Headquarters is located in Phnom Penh and in addition it maintains a branch network covering , , , , , , , Kampot, Kep, , , , , , , , , , , , , , , and provinces.
Since July 2008 ACLEDA Bank established its first international subsidiary commercial bank in Lao PDR, headquartered in Vientiane and later had two more branches in Savannakhet and Champasak.
| Year | Provinces/Towns Expanded During the Year |
|---|---|
| Kingdom of Cambodia | |
| 1993 | Phnom Penh, Kandal, Banteay Meanchey, Siem Reap, Battambang, Kampong Cham |
| 1994 | Takeo, Kampot, Kep |
| 1995 | Sihanouk Ville |
| 1996 | Pursat |
| 1997 | Kampong Speu, Kampong Thom |
| 2000 | Kampong Chhnang, Svay Rieng |
| 2001 | Prey Veng |
| 2003 | Koh Kong |
| 2004 | Pailin, Otdar Meanchey, Preah Vihear, Kratie |
| 2005 | Stung Treng |
| 2006 | Rattanakiri, Mondulkiri |
| Lao PDR | |
| 2008 | Vientiane, Savannakhet, Champasak |
The table above displays our branch network expansion history, and we will expand our branch network to serve all customers throughout the country.
Roll of Honour
We gratefully acknowledge the following organisations whose support was indispensable to establishing the foundation on which ACLEDA Bank Plc stands today.
(In alphabetical order)
- Agence Française de Développement (AFD)
- Cambodia Rehabilitation and Regeneration (CARERE)
- Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ) GmbH
- German Federal Ministry of Economic Cooperation and Development & Kreditanstalt für Wiederaufbau (KfW)
- International Finance Corporation (IFC)/Mekong Private Sector Development Facility (MPDF)
- International Labour Organisation (ILO)
- Japanese WID Fund
- Programme de Réhabilitation et d'Appui au Secteur Agricole du Cambodge (PRASAC)
- Shell Company of Cambodia Limited
- Swedish International Development Cooperation Agency (SIDA)
- The Government of New Zealand
- United Nations Development Programme (UNDP)
- United Nations Population Fund (UNFPA)
- United States Agency for International Development (USAID)
