People enter a Chamkarmon district Acleda Bank branch in Phnom Penh in 2014. Sreng Meng Srun
Acleda among Top 100 banks
ppp Fri, 8 April 2016
Acleda Bank was the only Cambodian bank to make The Banker’s Top 100 ASEAN Banks 2016 list, and saw the largest jump up the rankings among all entries, securing the 88th position on the financial publication’s annual list, up from 97th last year.
The Top 100 list ranks banks in the 10-member economic bloc according to their overall Tier 1 capital. Acleda had $423 million in Tier 1 capital at the end of 2015, with total assets of $3.1 billion and pre-tax profit of $102 million, according to the report.
The Cambodian lender also ranked ninth in terms of Tier 1 capital growth, with 22.29 per cent growth last year, and 10th in terms of asset growth, with total assets growing 30.4 per cent in 2015 to $3.1 billion. Its 3.25 per cent return on assets also put it in 4th place based on overall return on assets.
So Phonnary, Acleda Bank’s executive vice president and chief operations officer, said yesterday the bank’s improved ranking reflected its solid performance in terms of quality services, and the increasing confidence of its clients, which was driving the growth on profit and total assets.
“Acleda Bank has complied with international standards and has become a large bank that has been recognised in the world and region, especially by the bank’s partners,” Phonnary said. “We expect to see more growth this year, and are projecting 24 per cent more growth.”