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ACLEDA Bank Expands Operations into the Republic of the Union of Myanmar

November 19, 2012

Arrival of ACLEDA MFI Myanmar staff at Phnom Penh International Airport

Phnom Penh — November 19, 2012 — ACLEDA Bank Plc, the bank you can trust, announces today to the public that it is expanding its operations into the Republic of the Union of Myanmar incorporating and creating a fully owned subsidiary, namely ACLEDA MFI Myanmar Co., Ltd. It's now recruited the first group of 26 Myanmar staff of the planned recruitment of 750 management and staff, fresh graduated from several universities in Myanmar. Today those 26 highly qualified staff selected have a first time set their foot in Cambodia for the period of three weeks training and three weeks on job training including the twinning with their Cambodian counterpart and the professional staff of ACLEDA Bank Plc. The trainings will be done by ACLEDA Training Center in Phnom Penh, the Kingdom of Cambodia.

Mr. KIM Bunsocheat, Managing Director & CEO of ACLEDA MFI Myanmar Co., Ltd. said, "ACLEDA MFI Myanmar, a wholly subsidiary of ACLEDA Bank Plc, is given the temporary company registration certificate by Directorate of Investment and Company Administration of Myanmar on September 06, 2012 that allows it to start setting up its office and recruiting the staff. We have now finally recruited 26 Myanmar staff and being sending them to Cambodia to attend in-class and on-job training for 06 weeks at ACLEDA Training Center in Phnom Penh, the Kingdom of Cambodia. ACLEDA MFI Myanmar expects to start its official operations in January 2013 and plans to recruit an additional hundreds of Myanmar staff to support its operations expansion."

Mr. CHHAN Ponloeu, President & Managing Director of ACLEDA Training Center, said, "ACLEDA Training Center is a professional training center that is providing a specialized knowledge and skills in microfinance and banking to all microfinance institutions, bankers and graduated students in Cambodia, regionally and internationally. All fresh recruited staff of ACLEDA Bank and its subsidiaries has been trained by ACLEDA Training Center on the practical sessions for three weeks and on the job training for another three weeks at ACLEDA Bank in Phnom Penh, the Kingdom of Cambodia."

Dr. IN Channy, President & CEO of ACLEDA Bank Plc., welcomes ACLEDA MFI Myanmar staff

Dr. IN Channy, President & CEO of ACLEDA Bank Plc., said, "It is our second overseas operations expansion after we have done successfully in Lao PDR and it's the fourth subsidiaries of ACLEDA Bank. ACLEDA MFI Myanmar will operate as a microfinance institution with the initial paid up capital of 8 billion Kyats or US$10 million. Our primarily focus is to set up a head office in Myanmar which we have done. We build the capacity of our professional staff by providing them with professional skills and expertise so that they can handle the jobs independently and properly and provide quality services responsively in accordance to the need of their micro business customers in Myanmar. We have good office set up; we are now having our good staff on the process of training and get on job training in Cambodia, and twinning them with our experienced professional staff. Let them get expose and see the obvious success model in Cambodia, the ACLEDA Bank Plc. Model with the ambition that after six weeks in Cambodia they can bring our subsidiary in Myanmar, the ACLEDA MFI Myanmar Co., Ltd. to the whole new level and successful record!"

ACLEDA Bank Plc., has 238 branches and offices throughout Cambodia, 28 branches and offices in Laos, and 01 branch in Myanmar with the total assets over US$1.9 billion by the end of October 2012. It has four Subsidiaries which are ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA Training Center, and ACLEDA MFI Myanmar Co., Ltd. and strategically we are going to expand our operations in to the ASEAN region and all potential countries along the Mekong River.

For more information, please contact:

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

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