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 »  Media  »  Latest News  »  ACLEDA obtains the license as a Representative Office in Myanmar

ACLEDA obtains the license as a Representative Office in Myanmar

April 26, 2016

Phnom Penh — April 26, 2016 — ACLEDA Bank Plc., the Bank You Can Trust, the Bank for the People and the Cambodia's leading commercial bank in Cambodia, announces today that it obtains the license as a Representative Office in Myanmar from the Central Bank of Myanmar which is located in No.186(B), Shwe Gone Taing Road, Yae Tar Shae Block, Bahan Township, Yango Myanmar.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said that the license as a Representative Office in Myanmar will allow ACLEDA Bank Plc. to carry out marketing, promotion, negotiation and documentation for business purposes for its customers, referring them to bank operating in Myanmar, monitoring and supervising its granted offshore loans. This license will enable ACLEDA Bank Plc. to reach the next level of banking operations in Myanmar achieving its strategic goal becoming leading commercial bank servicing global customers in the context of ASEAN Economic Community.

About ACLEDA Bank Plc.

By the end of March, 2016, ACLEDA Bank Plc. has sustainably providing financial products and services for more than 24 years for all segments of the community – both private and public sectors through 258 branches throughout Cambodia, 41 branches and offices in Laos, and 6 branches and offices in Myanmar with the total assets of roughly US$4,190 million, loans outstanding of US$2,733 million, and savings & deposits of US$2,865 million.

Currently, ACLEDA Bank Plc. has five subsidiaries which are ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA Institute of Business, ACLEDA MFI Myanmar Co., Ltd., and ACLEDA Properties Ltd.

For further information, please contact:

Mr. Prom Visoth
Executive Vice President & Group Chief Legal Officer and Corporate Secretary

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