homenavigate_nextFinancial Informationnavigate_nextChairman's Report

Chairman's Report

Mr. Chhay Soeun, Chairman of the Board of Directors

On behalf of ACLEDA Bank Plc. and the Board of Directors, I am pleased to present the 2020 Annual Report to all interested parties.

The year 2020 was a difficult one for most sectors, especially travel and tourism. The COVID-19 andemic has negatively impacted businesses significantly in all industries around the world—Cambodia has not been an exception. The Royal Government of Cambodia has handled the situation very well and is worthy of being complimented. As a result, several major industries have not felt the full impact of this terrifying pandemic, as has been witnessed in other nations.

Growth in the Cambodian financial industry has remained consistent with that of previous years. Overall, the health of the sector is still considered quite stable. There are signs that economic activity is beginning to pick up in 2021 mainly due to effective vaccines being made available around the world.

Given the Bank's operations under the global pandemic for the year 2020, and in order to provide even more quality services to the public at large to meet their needs during this difficult time, the Bank has widened its self-service network innovation and rebranded digital banking services by encouraging the expanded use of the ACLEDA mobile App, which allows for more convenient, faster, and highly secure banking services. As a partial result of this, and in combination with the on-going efforts of all the Bank's management and staff, the Bank achieved positive outcomes as noted below:

As of December 31, 2020, total deposits increased by US$243.40 million while total loans outstanding grew by US$627.18 million compared to the year ended 2019.

In comparing the Bank's annual performance in 2020 with 2019, the Bank achieved a net profit after tax of US$141.49 million, an increase of 17.07% equivalent to US$20.63 million. The Return on Average Assets (ROAA) was 2.23%, an increase of 0.19%, and the Return on Average Equity (ROAE) was 13.79%, an increase of 0.49%.

From the date ACLEDA Bank was publicly listed to the end of the year 2020, public investors in the Bank increased by 42.63% (from 2,496 to 3,560). According to the monthly newsletter of the Cambodia Securities Exchange (CSX) issued in December 2020, the total market capitalization increased to US$2.45 billion, growing nearly 250% from that of 2019. The listing of ACLEDA Bank Plc., the largest local Cambodian bank, enhanced trading activity in the CSX, driving daily trade to around US$1 million for several consecutive days.

In closing, let me express my sincerest gratitude to all Shareholders, customers, employees, and especially the relevant authorities who have always supported the Bank's efforts and who have contributed to the positive performance of the Bank, especially during the year 2020.

Mr. Chhay Soeun
Chairman of the Board of Directors
March 24, 2021

Do you want QR Code or POS for your business?

Please fill our form here and we will contact you and prepare these payment facilities for you. You can request ACLEDA mobile's QR code or POS terminal for your business.

Apply Now

To declare that our financial statements comply with applicable International Financial Standard and give a true and fair view of the bank's financial position and its performance, we have appointed external auditors to conduct auditing of our bank's statements.


ONLINE VISITOR: 129 ©2021 ACLEDA Bank Plc.