Koreans eyeing bank IPO

Korean investors are looking forward to investing in the local stock market as it prepares to welcome Acleda Bank Plc into its main board. With Acleda Bank, one of the largest banks in the Kingdom, scheduled to go public in upcoming weeks, hundreds of Korean businesspeople ...

May Kunmakara

Acleda to be listed on CSX

Locally-owned Acleda Bank Plc will become the first commercial bank to be listed on the Cambodia Securities Exchange (CSX). It received an official letter to this effect from the National Bank of Cambodia (NBC) on November 26, which allows it to proceed with its plans for ...

May Kunmakara

Acleda increases share capital

Cambodia’s leading commercial bank Acleda announced late last week that it has injected an additional $42 million to top up the current share capital of $265.7 million, bringing the total registered share capital to $307.7 million. ...

Sok Chan

Acleda e-commerce hits $500,000 a month

Acleda Bank Plc., the country’s largest commercial bank by branches, has seen rapid growth in online transactions – now about $500,000 a month – since it launched its e-commerce payment gateway late last year, a senior executive at the bank said yesterday. ...

Sum Manet

Businesses must pay property tax by October

Businesses registered in Cambodia have until the end of the month to pay their annual property tax to the country’s General Department of Taxation (GDT). According to the GDT, business owners must pay by September 30 to avoid being fined. ...

George Styllis

ACLEDA Bank launches ACLEDA Internet Bank

ACLEDA Bank PLC, the Cambodia’s leading commercial bank, has launched a new service called “ACLEDA Internet Bank”, according to a statement on its website. The statement said the new service would offer additional alternative for its value customers in doing financial transactions via the internet at ...

The Cambodia Herald News Staff

Banking on technology in capital

The Cambodian finance industry is to celebrate the sixth Banking and Finance Conference a week from today, at a meeting that will focus on developing technology in the country’s financial sector. ...

Hor Kimsay

Acleda sets aside $39M for branch expansion

Acleda Bank has reinvested $39 million of profits back into its operations instead of paying out dividends to shareholders, an announcement on its website states. It is the 11th time Alceda has opted to increase registered capital, with the latest top-up taking the bank’s total capital ...

May Kunmakara

Foreign currency deposits see strong growth

Foreign currency deposits grew briskly during the first four months of the year, a sign that public confidence in Cambodia’s financial institutions is high despite the uncertainty after last year’s disputed national election, bankers said this week. Cheam Teang, executive vice president of Acleda Bank Plc., ...

Kang Sothear

Global Fund’s probe saw little cooperation

Financial records the Global Fund requested for its investigation into widespread corruption in health grants to Cambodia were withheld and censored by grant recipients, the probe found, suggesting a systematic attempt to cover up wrongdoing. Out of a total of $220.3 million worth of expenses the ...

Daniel Pye

Orix Investment in Acleda Seen as Exploratory

Orix, a Japanese financial conglomerate, will acquire about $11 million shares in Acleda Bank PLC, Cambodia’s largest bank, by the year’s end, officials announced Wednesday, although industry executives said the investment appears only exploratory and likely won’t make more than a ripple in the banking ...

Joshua Wilwohl

Acleda debuts its credit card

ACLEDA officially launched its first credit card on Friday as Cambodia’s largest bank eyes the country’s rising middle income bracket, president and CEO In Channy said yesterday. “This is the right time for us to start this Visa credit card product. By 2020, Cambodia will change ...

Daniel de Carteret

Japan's Orix to Buy 6% Stake in Cambodia's Acleda Bank

Orix Corp., Japan’s top leasing company, has agreed to buy a 6% stake in Cambodia’s largest bank by assets, Acleda Bank PLC, according to people close to the matter. It would be the first investment by a major Japanese financial institution in the Southeast Asian country, ...

Atsuko Fukase and Chun Han Wong

Rating agency says Acleda not affected by recent surge in withdrawals

Standard & Poor’s Ratings Services said Tuesday that its single-B ratings and stable outlook for Cambodia’s Acleda Bank Plc were “unaffected” by a recent surge in ATM cash withdrawals. A statement from Singapore said Sunday evening withdrawals after polls closed in national elections were about $4 ...

Web hacks a risk for banks

Growing cyber attacks on government institutions and infrastructure could pose a threat to Cambodia’s vulnerable banking sector, officials with the National Cambodia Computer Emergency Response Team (CamCert) said yesterday. Speaking at the fifth annual Banking and Microfinance Conference at the Intercontinental Hotel in Phnom Penh yesterday, ...

Cambodians Abroad Sent Home $256M Last Year

Cambodian migrant workers sent home $256 million last year, according to a report from a U.N. agency and the World Bank, which was released in Bangkok yesterday. The report from the bank and Rome-based International Fund for Agriculture Development (IFAD), titled Sending Money Home to Asia, ...

Mobile Banking Services On A Rise

F1soft Company, a software service provider that makes banking transactions available via phone, had commenced operations in Cambodia, company officials said yesterday during a workshop. Sean Thorninn, a lecturer in economics at the Limkokwing University and expert in Cambodia’s landscape of microfinance institutions (MFI), told ...

Acleda Plans to Launch Internet Banking Services

Acleda Bank PLC plans to launch internet banking services in September, the bank’s president and CEO, In Channy, said yesterday. Internet banking will be available to customers in Cambodia and abroad, Mr. Channy said. The system Acleda chose, he said, is used by many leading ...

Cambodia Bourse Sees End to IPO Drought

Cambodia’s stock market is set for a revival early next year when initial public offerings are expected by at least four local companies, ending a drought for a bourse that has hosted just one listing since its trading debut in April. State-owned Telecom Cambodia and Sihanoukville ...

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