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PRASAC achieves new high

Khmer Times staff / Khmer Times Share:
A customer conducting a transaction at a PRASAC branch in Phnom Penh. KT/Chor Sokunthea

PRASAC, a licensed microfinance deposit-taking institution (MDI) from the National Bank of Cambodia and a listed microfinance institution (MFI) on the  Cambodia Securities Exchange (CSX), has recently achieved a new milestone with a deposit outstanding balance of $2 billion and 800,000 deposit accounts.

This adds to the institution’s solid performance list: total assets of $3.39 billion, loan portfolios of more than $2.96 billion with 440,000 borrowers and more than 9,000 staff nationwide, according to statistics as of October 2020.

The company says its deposit portfolio has grown year-by-year thanks to the trust of valued customers and the institution’s commitment to providing the best customer-service experiences.

“Deposits mobilised by MDI play a vital role not only as an important source of funds for the institution to lend to rural and urban borrowers but also as instrument for promoting a savings and banking habit among the people,” said Say Sony, executive vice-president of PRASAC.

“This also contributes to a healthy and sustainable national economy .”

Sony continued: “This great achievement comes from the strong support of all our valued valued customers, the institution’s offer of a high return, excellent customer experience and easy access to banking services through the deployment of   a state-of-the-art core banking system, ATM, cash deposit machine, mobile banking, internet banking, POS [point of service] and QR code or merchant payments, water and electricity bill payments and interbank fund transfer within Cambodia.”

Sony added: “On behalf of PRASAC’s management, we would like to thank all customers, and stakeholders including regulators for feedback and advice since our inception until we became the biggest and most-trusted institution [that we are] today.”

He said: “It is an additional encouragement for us to continue our commitment in providing excellent customer service and user experiences through our  banking channels.”

To cater to the needs of customers, PRASAC provides various types of deposit and savings services,  namely  savings accounts, unfixed deposit accounts, savings plan accounts, flexi growth savings accounts, term deposit accounts, kid growth savings accounts and financial institution business accounts.

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