navigate_nextMedianavigate_nextOur Newsnavigate_nextSigning Ceremony on MOU between ACLEDA Bank Plc. and Cambodian Commercial Bank

Signing Ceremony on MOU between ACLEDA Bank Plc. and Cambodian Commercial Bank

Dr. In Channy, President & Group CEO of ACLEDA Bank Plc., and Mr. Suriyah Termlertmanuswong, CCB Director and General Manager, signing the agreement

March 14, 2014

Phnom Penh, March 14, 2014, ACLEDA Bank Plc., a leading commercial bank for all sectors, hereby announces that it signs a Memorandum of Understanding with Cambodian Commercial Bank (CCB) to establish a basis framework for further collaboration and cooperation.

Under the agreement, both banks will establish a basis framework for further collaboration and cooperation to provide mutual support for their respective clients on the activities such as Payroll/Supplier Payment, Bill Payment, and Check Collection services.

Siam Commercial Bank (SCB) President Khun Kannika Chalitaporn said that she was very pleased to witness the signing of the agreement, and noted that this type of cooperation is in the spirit of the AEC. Khun Kannika is hopeful that this agreement will lead to increased cooperation between the two banks, which have the highest number of branches and ATMs in their respective countries. She further noted that SCB is seeking to expand its presence and activities in the GMS region, and agreements of this sort will be a win-win for both institutions, benefiting companies and individuals in both Thailand and Cambodia.

Mr. Suriyah Termlertmanuswong, CCB Director and General Manager, said the agreement will be a great opportunity for the bank and ACLEDA to partner for their mutual benefit.

Dr. In Channy, President & Group CEO of ACLEDA Bank Plc., said it was a great honor and pleasure for the bank to partner with Siam Commercial Bank through its subsidiary, Cambodian Commercial Bank, on cash management services which will be provided the mutual benefits to each other. This cooperation will contribute to the growth and success of ACLEDA and Siam Commercial Bank and its subsidiary, CCB, while supporting our respective long term strategic plans.

About ACLEDA Bank Plc.

By the end of February 2014, ACLEDA Bank Plc. had 238 branches and offices throughout Cambodia, 41 branches and offices in Laos, and 06 branches and offices in Myanmar with the total assets roughly US$2.4 billion. It has four subsidiaries as: 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 Security (Cambodia) Plc., and it is the agent of Prudential (Cambodia) Life Assurance Plc. ACLEDA Bank is going to expand its operation into the ASEAN region and all potential countries along the Mekong River.

About Cambodian Commercial Bank

Cambodian Commercial Bank, established in 1991, is a wholly-owned subsidiary of Siam Commercial Bank PCL, incorporated in Thailand. The bank provides professional core banking and related financial services.

Siam Commercial Bank PCL is one of Thailand's leading universal banks. Established by Royal Charter in 1906 as the first Thai bank, it had the highest market capitalization among Thai financial institutions as of December 31, 2013 (Baht 488 billion). It offers the nation's largest network of branches (1,173), exchange booths (108), and ATMs (9,142), attesting to its dominant position in the retail financial services marketplace. Its clientele includes a diverse range of corporate, SME, private, and retail customers nationwide. The Bank’s total asset size was Baht 2,534 billion as of December 31, 2013. The bank has an extended international network covering Thailand, Hong Kong, Singapore, Cambodia, Laos, Myanmar, Vietnam, and China.

For more information, please contact:

Ms. Sovan Bopha, VP & Head of Financial Institution Department
Tel: +855­ (0)15 900 151
E-mail: