Despite downgrades, bankers report uptick
Despite the recent downgrading of two of Cambodia’s major banks by ratings agencies Moody’s and Standard & Poor’s, bankers said yesterday that profits are up, loan portfolios are growing at a fast tick and non-performing loans are shrinking. In Channy, president and CEO of Acleda Bank, whose bank’s credit rating was downgraded from a B+ to a B earlier this month by S&P, said that at the end of October, Acleda’s loan portfolio had grown to $940.9 million, up from $730.7 million at the beginning of the year…
