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ACLEDA Bank Selects to Provide Payroll Service for Government Officials

November 27, 2013

Dr. IN Channy, President & Group CEO of ACLEDA Bank Plc., and H.E. Dr. CHOU Kimleng, Secretary of State of MEF and the Chairman of the Commission in charge of Payroll Service through Banking System Project

Phnom Penh — November 27, 2013 — ACLEDA Bank Plc., the bank you can trust, the bank for the people, and the Cambodia's leading commercial bank, has announced today that the bank has signed a Memorandum of Understanding with the Ministry of Economy and Finance on providing the Payroll Service for Government Officials.

H.E Dr. CHOU Kimleng, Secretary of State of the Ministry of Economy & Finance and the Chairman of the Commission in charge of Payroll Service through Banking System Project, said, "The history of financial services by banking system has been approved and announced for the implementation by Samdech Akka Moha Sena Padei Techo HUN Sen, the Prime Minister of the Royal Government, for the second phase since December 5, 2008. In order to expand the coverage and the action of the implementation process for salary payment electronically and to release the burden of the cash flow within the Cambodia economy, the Ministry of Economy and Finance has selected ACLEDA Bank and other two institutions to provide the Payroll Service for Government Officials starting from January 2014 onward."

Dr. IN Channy, President & Group CEO of ACLEDA Bank Plc., said, "This MoU signifies in depth (i) for publicly open door for us as a good citizen to participate in the implementation of the Public Financial Sector Reform of the Rectangle Strategy of Royal Government of the Kingdom of Cambodia, (ii) for us to serve the Government Officials directly in larger scale, (iii) with great opportunities to serve the new segment that we have long term dream to serve, and a lot more which cannot be highlighted in a few minutes. We strongly believe that the more we serve the more we can learn from our customers/partners and of course better service quality which we mutually wish for since we always listen to our customers/partners."

About ACLEDA Bank Plc

ACLEDA Bank had 238 branches and offices throughout Cambodia, 35 branches and offices in Laos, and 03 branches and offices in Myanmar with the total assets over US$2.2 billion by the end of October 2013. It has four subsidiaries which are ACLEDA Bank Lao, ACLEDA Securities Plc., ACLEDA Training Center, and ACLEDA MFI Myanmar. And strategically, ACLEDA Bank is in the partnership with Sumitomo Mitsui Banking Corporation (SMBC), Tong Yang Securities (Cambodia) Plc., and it is the agent of Prudential (Cambodia) Life Assurance Plc. ACLEDA Bank is going to expand its operations into the ASEAN region and all potential countries along the Mekong River.

For more information, please contact:

Representative of Treasury Department of MEF

Mr. SUON Vichet, Chief Treasury Auditor
Tel: +855­ (0)12 619 998, +855­ (0)97 801 5757
E-mail:

Mr. MOEUN Lin, Deputy Cash Management Unit
Tel: +855­ (0)12 710 037, +855­ (0)97 626 6382
E-mail:

Representative of ACLEDA Bank Plc.

Mr. LY Thay, Senior Vice President & Head of Operations Division
Tel: +855­ (0)23 998 777 / 430 999, +855­ (0)15 900 177
E-mail:

Mr. SOK Sovady, Vice President & Deputy Head of Operations Division
Tel: +855­ (0)23 998 777 / 430 999, +855­ (0)15 900 178
E-mail:

Mr. NETH Piseth, Vice President & Deputy Head of Operations Division
Tel: +855­ (0)23 998 777 / 430 999, +855­ (0)15 700 111
E-mail: