A Successful Case Study: ACLEDA
It is a success story of ACLEDA bank. I happened to meet Mr. In Channy, founder and CEO of ACLEDA, for the first time in 1996 in his small and narrow office south of Tuol Tumpung market, when ACLEDA was still an NGO providing credits and basic trainings to small borrowers. He was then young and thin. We met him to learn more about his NGO’s work and its beneficiaries. I have since then followed up success stories of ACLEDA when it developed itself to Micro Finance Institution (MFI), later a specialized bank and then a commercial bank. I have read a great deal of what has been written about ACLEDA. Since then, I have met Mr. In Channy from time to time during official receptions, conferences or other gatherings. He is soft-spoken and is a very nice guy to talk to. I openly admire his achievement and great contribution to the financial sector in Cambodia, especially during a reception at the German Embassy and recently at the airport when he was on his way to Myanmar in 2012.
By December 31, 2012; ACLEDA has around 238 branches across Cambodia and employs more than 7,000 employee, with total assets reached U$ 1,982,742,950 (PPP, 08.04.13). In Laos, the bank has opened few years ago the first office and now has 31 branches and is reaching north towards China. It develops itself from a micro-credit project in 1991 to the biggest bank in Cambodia. It has recently opened first MFI office in Yangon. It is transparent, well-managed and is one of the first banks, which publishes balance sheets and income statements regularly in local newspapers. Some other banks are reluctant to do so. It is also well-known for its principle of “zero tolerance” to corruption.