Financial InformationChairwoman's Report

Chairwoman's Report

Ms. Kim Sotheavy, Chairwoman of the Board of Directors

On behalf of ACLEDA Bank and the Board of Directors, I am pleased to present the 2025 Annual Report to all stakeholders.

In 2025, the global economy demonstrated resilience despite ongoing trade tensions and elevated policy uncertainty. Economic activity proved stronger than expected, supported by supply-chain adjustments, easing inflationary pressures, accommodative financial conditions, and sustained investment in technological innovation, particularly artificial intelligence. According to the IMF Report January 2026, global economic growth is estimated at 3.3 percent in 2025, the same rate compare to last year, while global headline inflation declined to 4.2 percent from 5.8 percent in 2024. Economic conditions across major economies were mixed but generally favourable. The United States grew by 2.1 percent, the Euro Area by 1.4 percent, and Japan by 1.3 percent. China’s economy expanded by 4.9 percent, slightly below the previous year, while ASEAN economies maintained resilience with growth estimated at 4.3 percent.

In Cambodia, the economy remained resilient with moderate growth of 5.2 percent in 2025, compared with 6.0 percent in the previous year. This is due to global uncertainty, the introduction of a 19 percent US tariff on Cambodian exports, border tensions and temporary closures with Thailand, lower-than-expected tourism performance, and continued slow grow in the real estate and construction sectors (Ministry of Economy and Finance, January 2025). Nevertheless, economic activity was driven by stable investment inflows and strong performance in garment and non-garment manufacturing exports, as well as agricultural production. These developments were complemented by prudent fiscal policy, including ongoing public investment and targeted support measures, together with well-calibrated monetary policy that helped maintain financial stability, adequate liquidity, and confidence in the banking system.

Cambodia’s banking system remained resilient in 2025, underpinned by strong capital adequacy, ample liquidity, and continued prudential oversight by the National Bank of Cambodia. The sector recorded steady growth during the year, with total banking and financial assets increasing by 9.4 percent, deposits rising by 17.4 percent, and capital strengthening by 2.8 percent (NBC Annual Report 2025). These indicators reflect sustained public confidence in the banking system and a stable funding base. Nevertheless, the sector continued to face challenges, including elevated non-performing loans and slower-than-expected credit growth, particularly in sectors affected by the broader economic slowdown.

During 2025, ACLEDA BANK was proud to be the only Cambodian bank to be included in the "Top 1000 World Banks 2025" ranking by The Banker magazine. That was the second year that ACLEDA BANK had been recognized as one of the top 1000 banks in the global ranking. Meanwhile, ACLEDA BANK was honored to receive a Letter of Appreciation from the Governor of the National Bank of Cambodia (NBC). This esteemed recognition was granted to ACLEDA BANK achieving the No. 1 ranking in 2025 for both Khmer Riel lending and deposits within the Cambodian banking sector and also received an Appreciation Letter from the National Bank of Cambodia to ACLEDA BANK PLC. for complying with the legal and regulatory frameworks by fulfilling our duties and preparing reports to the National Bank of Cambodia consistently and on time to ensure the sustainability of the Cambodian banking sector. Furthermore, ACLEDA BANK received a report from the Global Ratings Agency — Standard & Poor's (S&P) which has maintained the Bank's Credit Ratings at "B+/Stable/B". This stable rating outlook reflects that ACLEDA BANK has nourished its long-term financial profile with sufficient capital buffers to respond to all economic conditions.

In addition, ACLEDA BANK has continuously improved many self-service operations functions across ACLEDA Mobile, QR codes, ATMs, and POSs in line with the needs of customers, and the evolution of digital technology to become an AC Super App. By the end of December 2025, the Bank expanded its 222 self-service banking (65 locations in Phnom Penh and 157 locations in provinces) adding to its existing 321 branches. The Bank equipped 1,651 ATMs, 6,506 POS machines, and QR codes response to customers’ requests for transactions transfers and settlements in markets, shops, hotels, educational institutions, hospitals, travel agencies, gas stations, and other businesses across the country. Meanwhile, the Bank had more than 5.64 million ACLEDA Mobile registers, especially among those the Bank had more than 0.8 million business partners.

As of 31 December 2025, the total assets rose by USD 1,183.45 million to USD 12,017.28 million. Total deposits increased by USD 1,010.21 million to USD 9,369.27 million while total loan outstanding grew by USD 515.43 million to USD 7,634.45 million, compared to the year ended 2024. The annual performance 2025 compared to the year 2024, the Group achieved a profit attributable to the shareholders of USD 199.86 million, an increase of 64.91 % equivalent to USD 78.67 million.

Finally, I would like to express my sincerest gratitude to all shareholders, customers, employees, the public at large, and especially relevant authorities who always support and contribute to the good performance of the Bank, especially for the year 2025.

Ms. Kim Sotheavy
Chairwoman of the Board of Directors
March 19, 2026