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DATE AND TIME
Mon, 28 Jan. 2019, 09:00
Mon, 28 Jan. 2019, 10:30
As you may know, Cambodia’s economy and finance industry is dollarized. This can be a positive and negative thing at the same time, depending on the context. The National Bank of Cambodia will present their perspective on the matter, knowing that currently, 80-90% of cash in the country is in the dollar.
Cambodia’s financial sector continued to expand robustly during the first half of this 2018 with outstanding loans and deposits increasing compared to the same period in 2017, reflecting sustainable development and growing public confidence in the sector, according to the latest report by the country’s central bank.
Despite uncertainty caused by the July general elections, 2018 was an excellent year in terms of business performance for a number of key players in the local financial sector for Cambodia. Representatives of Acleda Bank and microfinance institutions Amret, Prasac, and Hattha Kaksekar Limited told Khmer Times that 2018 exceeded their expectations when it comes to important business performance indicators.
Acleda, one of the largest commercial banks in the Kingdom, reported that outstanding loans and deposits rose by as much as 14 and 17 percent respectively last year.
Amret, one of the largest monetary financial institutions (MFIs) in the country, reported a similar growth in loans – 14.5 percent – while their deposit expanded by 25 percent to reach $449 million.
Non-performing loan accounted for just 0.3 percent of total loans in 2018.
Huot Ieng Tong, president and CEO of Hattha Kaksekar Limited (HKL), the first company to issue corporate bonds in the Cambodian securities market, said loans and deposits both grew by 25 percent last year.
Another large competitor in the MFI business, Prasac Microfinance Institution, also reported positive figures, with its loan portfolio growing by 27 percent, from $1.54 billion in 2017 to $1.96 billion at the end of last year. Deposits, meanwhile, grew by a huge 40 percent.
In November 2018, international credit rating agency Standard & Poor’s revised the Banking Industry Country Risk Assessment (BICRA) economic risk trend for Cambodia from ‘negative’ to ‘stable’.
This webinar is suitable for companies in the following sectors:
Essentially this webinar will be of interest to all kinds of companies related to the finance industry. Bread Bank is a very good example of a banking company opting for Cambodia as a more fruitful export market rather than larger markets such as Thailand.
Key contact for this webinar:
Contact Telephone: +85512323121
Contact Email: firstname.lastname@example.org
Presenters for this webinar:
CEO of Bred Bank
Assistant Governor and Director General of the National Bank of Cambodia
For more information on upcoming Cambodia events and webinars, follow them on Twitter handle: @BritCham_KH
To register your attendance for this webinar, please click the link below.