Shareholders
In accordance with Licence N° 01/BIS issued by the NBC on December 01, 2003 and in accordance with Approval N° 052 issued on January 12, 2004 by the Ministry of Commerce, the Bank increased its total registered share capital from US$4,000,000 to US$13,000,000, represented by 13,000,000 ordinary shares, each having an issue price of US$1 (2002: US$10). On November 30, 2006, ACLEDA Bank celebrated its thirteenth anniversary and has raised its issued and paid-up capital from US$13,000,000 to US$30,000,000. 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$50 million. Each share shall have 1 vote and shall participate equally in all dividends and other distributions of the Bank. Fractions of shares shall not be issued.
| Shareholders | Number of Shares | US$ | 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% |
Brief about our shareholders
ACLEDA NGO
The Association of Cambodian Local Economic Development Agencies (ACLEDA) NGO was established as an independent Cambodian Non-Government Organisation in 1993 for small and micro enterprise development, which aims to raise the standards of living of the poor by promoting economic activities ranging from self-employment and small to medium size business.
Following the transformation into a licensed specialised bank, ACLEDA Bank was established in October 2000, and the original ACLEDA was officially renamed the ACLEDA NGO. ACLEDA NGO's main objective is to enhance and guarantee sustainable access for small and micro businesses to the financial services through ACLEDA Bank.
ACLEDA NGO's main activities are:
- To channel bulk funds to ACLEDA Bank for the purpose of providing credit for the lower segment of the market and Cambodian entrepreneurs.
- To act as the principal shareholder of ACLEDA Bank.
ASA, Inc.
The ACLEDA Staff Association, Inc. (ASA, Inc.) was formed to serve as a holding company and vehicle through which the staff of ACLEDA Bank can participate in the long-term growth and increase in value of the stock in ACLEDA Bank by owning a beneficial interest in the shares of ACLEDA Bank.
DEG — Deutsche Investitions-und Entwicklungsgesellschaft (DEG)
DEG, member of KfW Bankengruppe (KfW banking group), is one of the largest European development finance institutions for long-term project and company financing. For more than 40 years, DEG has been financing and structuring the investments of private companies in developing and transition countries.
DEG invests in profitable projects that contribute to sustainable development in all sectors of the economy, from agriculture to infrastructure and manufacturing to services. We also focus on investments in the financial sector in order to facilitate reliable access to capital locally.
To date, we have worked together with more than 1,300 companies. By providing over EUR7 billion of finance, a total investment of over EUR45 billion could be achieved.
Our aim is to establish and expand private enterprise structures in developing and transition countries, and thus create the basis for sustainable economic growth and a lasting improvement in the living conditions of the local population.
The Netherlands Development Finance Company (FMO)
The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. FMO's investment portfolio is EUR3.4 billion and FMO is one of the largest bilateral development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.
The International Finance Corporation (IFC)
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC's vision is that people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed US$8.2 billion and mobilized an additional US$3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.
Triodos-Doen Foundation
Triodos-Doen Foundation was founded by Triodos Bank and DOEN Foundation in 1994. Triodos-Doen's vision is to develop microfinance into a full-fledged and integral part of the financial sector in developing countries. The creation of an inclusive financial sector, a sector where the majority of people have access to financial services, will provide a sustainable basis for a balanced social–economic development. In Triodos-Doen's vision microfinance institutions distinguish themselves from other financial institutions through a specific identity and sustainable profile. This profile includes not only a focus on the profitability of the institution but also on the social aspects, which are an almost inherent part of their mission, and on the potential impact of their business and credit operations on the environment and natural living conditions.
Triodos-Doen is one of the three microfinance funds managed by Triodos Investment Management BV, part of Triodos Bank N.V. in the Netherlands. Triodos Bank is the leading sustainable bank in Europe. Triodos-Doen is involved in 50 microfinance institutions in Asia, Latin America, Africa and Eastern Europe. The total portfolio at the end of 2007 amounted to EUR43 million. Other equity investments in microfinance banks, besides ACLEDA Bank, include K-REP Bank in Kenya, Mibanco in Peru, FFP FIE in Bolivia, Akiba Commercial Bank in Tanzania, XacBank in Mongolia, BRAC Afghanistan Bank in Afghanistan, AccèsBanque Madagascar, CEB in Cambodia, and Reliance Financial Services in The Gambia.
Triodos Fair Share Fund
Triodos Fair Share Fund, established in 2002 in the Netherlands, is one of the first and very few social-ethical funds worldwide that offers the opportunity to invest in microfinance institutions to the general public. The fund initially concentrates on the private investors market in the Netherlands. Triodos Fair Share Fund is one of the three microfinance funds managed by Triodos Investment Management B.V., part of the Triodos Bank N.V., and invests in microfinance institutions in developing countries, Central Asia and Eastern Europe. The objective of the fund is to give low-income people in these countries access to financial services by contributing to a sustainable inclusive financial sector. At the end of 2007 the portfolio of Triodos Fair Share Fund amounted to EUR37 million. Besides its equity investment in ACLEDA Bank, Triodos Fair Share Fund is a shareholder in FFP FIE in Bolivia, XacBank in Mongolia, and Mibanco in Peru. Triodos Fair Share Fund has provided loans to 14 other microfinance institutions.
