Acleda Bank net profit, assets grow in 1H16

Acleda Bank, Cambodia’s largest financial institution, experienced sturdy year-on-year growth during the first half of the year, according to figures from its latest audited financial statement.

Net profit grew by 17 per cent in the first half of 2016, compared to the same period a year earlier, while total assets grew to over $4 billion, representing almost 10 per cent growth from the previous year.

Acleda Bank’s total liabilities grew due to an increase in the number of customer loans, pushing the loan-to-deposit ratio above 100 per cent. But the firm’s total assets remained greater than its total liabilities.

A previous version of this article mistakenly provided total assets as $4 trillion.

MOST VIEWED

Joy as Koh Ker Temple registered by UNESCO
Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in
Famed US collector family return artefacts to Cambodia
In the latest repatriation of ancient artefacts from the US, a total of 33 pieces of Khmer cultural heritage will soon return home, according to the Ministry of Culture and Fine Arts. In a September 12 press statement, it said the US Attorney’s Office for the
Cambodia set to celebrate Koh Ker UNESCO listing
To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable
Kampot curfew imposed to curb ‘gang’ violence
Kampot provincial police have announced measures to contain a recent spike in antisocial behaviour by “unruly’ youth. Officials say the province has been plagued by recent violence among so-called “gang members”, who often fight with weapons such as knives and machetes. Several social observers have
PM outlines plans to discuss trade, policy during US visit
Prime Minister Hun Manet is set to meet with senior US officials and business leaders during his upcoming visit to the US for the UN General Assembly (UNGA), scheduled for September 20. While addressing nearly 20,000 workers in Kampong Speu province, Manet said he aims to affirm
Manet touches down in Beijing for high-level meetings
Prime Minister Hun Manet arrived in Beijing on September 14 for his first official visit to China, where he is slated to attend the 20th China-ASEAN Expo and meet other leaders including Chinese President Xi Jinping. Upon his arrival, Manet laid a wreath at the Monument