Loans and deposits up 30%

Outstanding loans and deposits made at Cambodian banks grew by 32 per cent and 28 per cent respectively at the end of March this year from a year earlier, according to data from the National Bank of Cambodia (NBC). The data from the NBC that the Post obtained yesterday revealed that outstanding loans provided by all Cambodian banks reached about $6.14 billion at the end of March this year, and deposits made at all commercial banks reached about $6.39 billion. While all sectors are important to increase financing in the banking industry, Sokha said loans for agricultural activities contributed much to the growth, which is up about 40 per cent from the year earlier. … Acleda Bank, Cambodia’s largest domestically owned bank, has been increasing its percentage share of its loan portfolio into agriculture from 15 per cent two years ago to 19 per cent at the end of March. While the bank’s total loan portfolio reached about $1.35 billion at the end of March this year, In Channy, the bank’s president and chief executive, said $254 million was given to agricultural loans, which represents about 19 per cent of total lending. He added that another $16 million went to rice millers, but are considered separate from agricultural loans at Acleda. …

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