The Official Grand Opening of
ACLEDA Bank Plc. Headquarters New Building

December 11, 2015

Phnom Penh, December 11, 2015, ACLEDA Bank Plc., the bank you can trust, the bank for the people, has announced today that ACLEDA Bank Plc. the New Headquarters, addressed #61, Preah Monivong Blvd., Sangkat Srah Chork, Khan Daun Penh, Phnom Penh, Kingdom of Cambodia is inaugurated on December 11, 2015 to be readiness for ASEAN Economic Community December 31, 2015. The official grand opening was under the presidency of Deputy Prime Minister (Standing) KEAT CHHON, H.E. Chea Chanto, Governor of the National Bank of Cambodia, H.E Ambassadors and Head of Diplomatic Corps, and distinguished local and international guests.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said, "When ACLEDA received license from the National Bank of Cambodia as a Specialised Bank in 2000, its office was along the Mao Tse Tung Blvd. with office spacing of 2,220 sqm. Since ACLEDA received license from the National Bank of Cambodia as a Commercial Bank in 2003, its Headquarters increased spacing of 6,083 sqm with the parking lots for 168 vehicles. This office has built in 2005 on the own land of ACLEDA along the Preah Monivong Blvd. and the construction was finished in 2007 in the expense of USD 7,685,694. This current office has been used for eight years. Because of the potential of customer increased from 60,860 to more than 2 million customers, the Bank's assets have increased from USD 22.3 million to USD 3,901 million, and 11,913 employees that the headquarters staffs increased from 72 staffs in 2000 to 1,550 staffs including the subsidiaries staffs as of November, 2015 and the number of staffs will be increased in the future."

Meanwhile, Dr. In Channy continued, "The development of ACLEDA is done continuously and sustainably from branch and office network with 304 local and oversea and electronic bank infrastructure network including: ACLEDA Unity through Mobile Phones System, Cash Withdrawal via ACLEDA ATM, Cash Deposit via ACLEDA Bank's ATM, ACLEDA POS which are electronic machines for doing transaction by ACLEDA Card and other banks' cards which enable ACLEDA Bank Plc. becoming a payment centre to pay for goods or services globally, safely and conveniently make payment worldwide. ACLEDA Internet Banking Service, which is the most convenient and reliable for self-service, highly secured. The costumers can do financial transactions from anywhere and at any time — 24 hours a day, 7 days a week without coming to the branches or offices."

"ACLEDA has been serving the banking services to the customer in safely and conveniently, coincides with the ASEAN Economics integration at the end of Year 2015, ACLEDA has built a New Headquarters following the international standard in January, 2013 with 20 stories, and 04 basements with 43,000 square meters for using in next 20 years, for the existing building used as the banking hall," he continued.

"This new building has been designed by international and reputable companies renowned Aedas, Architect Consultant, located in Hong Kong, with iLi Consulting Engineers Mekong Ltd., Civil & Structure Consultant; Optima Consultant Ltd, MEP Consultant; and BK Asia Pacific, Quantity Surveying Consultant. This new tower was built by HYUNDAI Engineering Co., Ltd. which is one of professional and reputable construction companies in South Korea as well as in the world, and it has its successful record in Cambodia. This building was taken for 34 months in the expenses USD 76,695,224, equipped with the security, fire protection, energy conservation, and occupational health and safety with parking lots for 1,239 vehicles, and a high comfortable canteen hall for staffs," he said.

Mr. Shosuke Mori, Managing Director for Asia Pacific and as International Shareholders Representative, said, "A couple of years ago we, Sumitomo Mitsui Banking Corporation, started to seek out the best bank, the most trusted bank, in Cambodia to work together as partners to support not only Japanese corporate clients expanding their business into Cambodia, but also to contribute to the growth of the Cambodian economy and businesses, and the well-being of its people. We had the good fortune of meeting ACLEDA Bank, a bank whose management and people are passionate about delivering better services to its clients and customers under its slogan 'The Bank You Can Trust, The Bank for the People'."

Mr. Shosuke Mori added, "ACLEDA Bank has grown incredibly in the past 23 years. And today, just before the launching of ASEAN Economic Community, we are all here to celebrate a new milestone as it embarks on a journey to new heights. The road ahead, however, will not be easy. The global economic outlook is increasingly uncertain, and cross-border competition will certainly intensify with the greater financial integration of ASEAN countries by 2020. There is also the challenge posed by financial technology – or FinTech – companies that are creating new internet-based financial services. SMBC is proud to be a part of this everlasting story of ACLEDA Bank, not only as a shareholder but also as your partner, and as a team. We committed to stand alongside with you and support your growth in the shared future."

H.E. Chea Chanto, Governor of the National Bank of Cambodia, addressed his appreciation to the Bank's management, in particular Dr. In Channy who had delivered a detail report to the event reflecting the growth and development of bank's operation and widening its network in both local and overseas. To participate in maintaining macro-economic stability and support the government policy, NBC continuously implemented monetary policy with flexibility and prudence based on the national economic growth and the trend of global and regional economic situation to maintain pricing and KHR exchange rate stability. Inflation rate ongoing stabilized and was expected to be under 3% which was a low and manageable rate. NBC kept on closely collaborating with related parties to increase insight and deepen understanding on banking and financial sector and using financial services which growing and covering until remote area and strengthening financial situation and gaining trust and confident from the publics on banking and financial system in Cambodia.

"In year 2015 Cambodian economic growth is forecasted to keep on strong sustainability at the rate of 6.9% which is strongly supported by textile export, agriculture, tourism and construction. The remarkable achievement can be achieved because of the government's effort under the leadership of Samdech Akka Moha Sena Padei Techo HUN SEN, Prime Minister of the Kingdom of Cambodia, so that it can maintain political stability, social security, macro-economic sustainability through the ongoing implementation of development and reform programs and monetary policy with care and diligence to support social-economic growth sustainably," H.E. Chea Chanto said.

Deputy Prime Minister (Standing) KEAT CHHON addressed his appreciation to the Shareholders, the Board of Directors, Management and Staff of the ACLEDA Bank Plc. for their efforts, expanded banking services and constructed this new modern great and strong building with international security standards. This building and its location had more spacious and good working environment to serve its clients, improved its corporate image and built up more trust and confidence to its internal and external clients and public. ACLEDA Bank Plc. had participated in the development of the financial sector in the Kingdom of Cambodia with attracting the local and international investors in mobilizing the savings and deposits, providing credits and other financial services to the businessmen, traders, investors and people, especially had expanded its operations through its 304 domestic and overseas branches. This is a great pride of the Kingdom of Cambodia that ACLEDA Bank Plc. became the first Cambodian Bank to expand its operation in ASEAN region. Moreover, the development of ACLEDA Bank Plc. showed the robustness and growth as well as contribution to economic development in Cambodia, especially the readiness for ASEAN Economic Community that would come into effect on December 31, 2015.

He also mentioned the activities of banking and financial sector had witnessed a sharp growth, especially the robustness, stability and resilience during some difficult circumstances. In particular, as of December 31, 2014, there had been 586 offices/branches of commercial and specialized banks throughout the country. As of the end of the third quarter 2015, assets in the banking sector, including microfinance institutions, had increased to more than USD22 billion dollars, while deposits and loans reached around USD12 billion dollars and USD14 billion dollars respectively. These figures underlined the heightened confidence in Cambodia's banking and financial sector.

The strategic objective of the Royal Government was to continue its effort to develop a banking and financial sector to be more broad-based, diversified, deepened, sound and market-based to contribute to economic growth and poverty reduction. To achieve this objective, the Royal Government had launched the financial sector development strategy 2011-2020 by focusing on some priorities such as development and coordination of policy framework, institutional and human capacity building, development of crisis prevention and resolution mechanism as well as early warning mechanism, development of infrastructure and operational efficiency of the financial sector, better access to more affordable microfinance service for the poor etc. The robustness, stability and growth of the banking and financial sector in particular, the exceptional socio-economic growth to date in general were without a doubt the product of the brilliant, wise and realistic leadership of Samdech Akka Moha Sena Padei Techo HUN SEN, Prime Minister of the Kingdom of Cambodia who had successfully led Cambodia to achieve high, sustainable and inclusive economic growth of more than 8% per annum during the last 15 years from 1999 onward, in spite of numerous challenges such as natural disasters, the impact of the global financial crisis and global economic recession. For such economic resilience to happen, we must give credit to the Win-Win policy initiated and successfully implemented by Samdech Akka Moha Sena Padei Techo HUN SEN in late 1998 which had brought about full peace, territorial unity and national unity which were the requisites for political stability, macroeconomic stability, financial stability, social order, democracy and respect for human rights. Meanwhile, he also reminded the public, especially those living in rural areas that some microfinance institutions operating in rural areas did not register in accordance with the law and charge excessive interest. In addition, some institutions/organizations were using the cover of microfinance service providers to engage in illegal activities or political campaigns without clear source of funding and identity. To deal with this, competent ministries, institutions and authorities had been taking tough legal measures against those illegal institutions/organizations. He also requested ACLEDA Bank Plc. to continue expanding its service coverage to join the Royal Government's effort to fight those illegal microfinance institutions throughout the country.

He repeated the message of Samdech Techo Prime Minister on December 7, 2015 which requested financial institutions and banks to work with microfinance institutions to explore the means to help those affected by natural disasters by extending loan repayment, extending loan repayment without incurring additional interest or lowering interest and avoiding seizing lands, houses or properties from them. This shows Samdech Techo Prime Minister's utmost attention to the livelihoods and welfare of farmers affected by the decline of agricultural product prices and shortage of water this year.

For further information, please contact:

Dr. So Phonnary
Executive Vice President & Group Chief Operations Officer
E-mail: phonnary@acledabank.com.kh

Mr. PROM Visoth
Executive Vice President & Group Chief Legal Officer and Corporate Secretary
E-mail: visoth@acledabank.com.kh