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ACLEDA Bank posts $120M annual net profit

Sok Chan / Khmer Times Share:
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ACLEDA Bank Plc. Headquarters located on Preah Monivong Blvd, Phnom Penh.

ACLEDA Bank Plc. – Cambodia’s largest commercial bank – recorded a net profit of almost $120 million in 2019, representing a 1.3 percent increase compared to 2018, according to the bank’s audited annual report.

The report stated, that the bank’s gross income was $550 million last year, and the profit before income tax was $153 million with net profit after tax at $120 million.

Total assets reached $6.17 billion in 2019, compared with $5.68 billion in 2018. Total loans was worth $3.84 billion in 2019, up around 7 percent from $3.59 billion in 2018.

Deposits increased by 13 percent to $4.36 billion and shareholders’ equity values at 13.09 percent from $852.84 million to $964.46 million.

Non-Performing Loans were contained at 1.24 percent and the bank has 316 offices operating across Cambodia, Lao PDR, and  Myanmar.

ACLEDA became the first public listed bank on the Cambodia Securities Exchange on Monday raising around $17.6 million, with the number of IPO shares at 4,344,865 in the primary market.

According to the Cambodia Stock Market, the banks trading value hit 5.11 billion riel ($1,242,297) on Wednesday.

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