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homenavigate_nextMedianavigate_nextLatest Newsnavigate_nextACLEDA Bank Plc. and China Development Bank Guangxi Branch Signs Long-Term Loan Facility Agreement

ACLEDA Bank Plc. and China Development Bank Guangxi Branch Signs Long-Term Loan Facility Agreement

July 10, 2020

Phnom Penh, July 10, 2020, ACLEDA Bank Plc. (the Bank) announced that the CHINA DEVELOPMENT BANK (CDB), the world's largest development finance institution, signs USD130,000,000 Long-Term Facility Agreement with the Bank.

Dr. IN Channy, President & Group Managing Director of ACLEDA Bank Plc. said that diversification of funding sources is very important to support sustainable and strategic growth of the Bank. As one of the listed companies in Cambodia Stock Exchange, we can mobilize funding from the capital market to strengthen our capital, tap into savings and deposit from the financial market for short term funding need, and from the international funding institutions such as CDB to support long term growth of the Bank. With this USD130,000,000 long term facility from CDB, the Bank expects to reach out to at least other 5,000 small and medium enterprises.

Mr. Lyu Zhinan, Deputy General Manager of CDB Guangxi Branch, said that ACLEDA Bank is the main bank supporing the development of SMEs in Camdodia. CDB firmly believes that this credit cooperation will help more Cambodian SMEs to fight the epidemic and resume production, and will play a positve effect in promoting economic recovery of Cambodia. CDB is willing to develop further cooperation with ACLEDA Bank, undertaking a more important role in promoting rapid economic growth and releasing development potential in Cambodia.

As at the end of March 2020, ACLEDA Bank Plc. had total assets of KHR25.01 trillion (or USD6.15 billion), total loan outstanding of KHR16.22 trillion (or USD3.99 billion) and total deposits at KHR17.69 trillion (or USD4.35 billion).

For more information, please contact:

Mrs. Mar Amara
Title: Executive Vice President & Group Chief Financial Officer (Public Relation Officer)
Tel: 015 900 126
Email: amara@acledabank.com.kh

Mrs. Buth Bunsayha
Title: Executive Vice President & Group Chief Legal Officer and Corporate Secretary (Disclosure Officer)
Tel: 015 600 532
Email: buth.bunsayha@acledabank.com.kh

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