MFI deposits seen growing

8 November 2012
The Phnom Penh Post
Banking and financial services / Economy and commerce
ACLEDA Bank / Amret MFI / ATM / banking / business operations / Cambodia Microfinance Association (CMA) / Cambodia’s largest MFIs / Cambodia’s macro-economic / European financial crisis / Hattha Kaksekar Limited / Micro-loans / microfinance institutions (MFI) / non-performing loan [NPL] / Prasac

The value of deposits with Cambodia’s 31 microfinance institutions grew more than 96 per cent in the first nine months of the year compared to last year, a rise industry experts say is due to the political stability and economic growth of the Kingdom. Official data from the Cambodia Microfinance Association (CMA) showed total loans outstanding rose by 25 per cent ending September to $808 million compared to $644.64 million at the end of last December while total deposits reached $225 million compare to $114.61 million. The figures excluded micro-loans from Acleda Bank. … Sim Senacheert, president and CEO of Prasac, one of Cambodia’s largest MFIs, said the rise of loans and deposits in the MFI industry are mainly reliant on the growth of the economy. He noted the increase in personal loans and loans to small and medium enterprises over the first nine months of this year. …

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