NewsLatest News on SecuritiesACLEDA Bank Plc. Increases Additional Capital of US$72,502,297

ACLEDA Bank Plc. Increases Additional Capital of US$72,502,297

May 20, 2013

Phnom Penh — May 20, 2013 — ACLEDA Bank Plc., a leading commercial bank for all sectors at its twenty-first anniversary this year, has announced today that it additionally injects capital by US$72,502,297 to its current registered capital of US$113,169,560. Therefore the total registered capital of ACLEDA Bank Plc. is US$185,671,857.

ACLEDA Bank Plc. is 51% owned by Cambodian interests, including ACLEDA NGO and ASA, Plc., with the remaining 49% held in equal parts by leading international institutions including the International Finance Corporation (IFC), Triodos (Stichting Triodos Doen, Triodos Custody B.V [Triodos Fare Share Fund], Triodos SICAV II-Triodos Microfinance Fund), JSH Asian Holdings Limited, and COFIBRED. The additional capital injection by US$72,502,297 will be contributed from stock dividend paid by the Bank of US$32,502,297, and additional US$40,000,000 in cash injected by each shareholder. This is the tenth times that ACLEDA Bank Plc. has raised its registered capital since it became a bank.

ACLEDA's Chairman, Mr. CHEA Sok, a former central banker and economist, explained why the bank was seemingly always hungry for new capital, cited three principal reasons. Firstly, ACLEDA continues to experience strong growth in its core domestic and oversea business with loans and other financial services and total assets increasing at more than 28.40% annually. Secondly, is to maintain our capital base at the upper level of the regulatory prudency ratios. But perhaps the most important of all is the need to build public trust. By demonstrating that we have strong shareholders ready and willing to support the bank we are creating confidence in our ability to protect our customers' savings.

Dr. IN Channy, President and Group CEO, said that, "The subsequent capital increase is to finance its branch expansion locally and internationally, electronic bank infrastructure deployments and upgrading, and its growth to meet its strategic goals. ACLEDA has experienced consistent increases in net profit after tax from just over US$475,168 in 2001 to US$63,649,435 in 2012. In addition to the calling on its shareholders for capital increases, the bank has been reserved its general reserves retaining between 50% to 60% of its Net Profit After Tax and reports that its current total net-worth has reached at US$309,146,581 by the end of April, 2013. As the Cambodia's leading commercial bank for all sectors, ACLEDA Bank Plc. always focuses on its customers' needs and determines to meet their needs in all segments for more than 21 years of experience with 238 branches and offices throughout Cambodia, 32 branches and offices in Laos and 01 office in Myanmar, with the total assets over US$2 billion by the end of April 2013.

"In 2013, domestically, here in Cambodia, we'll increase our ATM network to 220 and installing 1,000 POS terminals. And we plan to open 30 new offices within this year bringing the total up to 268 throughout the country giving employment to nearly 10,000 employees. We are also embarking on a substantial upgrade of our management information systems to cope with the growth of the banking and financial sector and in particular support our regional expansion," he added.

Recently, ACLEDA has four subsidiaries: ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA Training Center and ACLEDA MFI Myanmar Co., Ltd.

For more information, please contact:

Dr. SO Phonnary, Executive Vice President & Group Chief Operations Officer
E-mail:

Mr. PROM Visoth, Executive Vice President & Group Chief Legal Officer
E-mail: