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Aclida bank in cambodia?

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Aclida bank in cambodia?

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Your spelling is is incorect it is ACLEDA

The Association of Cambodian Local Economic Development Agencies (ACLEDA) was initially established in January 1993, as a non-profit national NGO for micro and small enterprises' development and credit. It resulted from the institutionalisation process of an earlier ILO/UNDP project targeting vulnerable populations. In October 2000, ACLEDA Bank Ltd. was licensed by the National Bank of Cambodia as a Specialized Bank, able to take public deposits and seek commercial funding to support the expansion of its core business. ACLEDA Bank was granted a full commercial banking license on 1st December 2003, to become ACLEDA Bank Plc., allowing the organisation to expand the range of services offered to customers.

Under the transformation process, the original NGO transferred its assets and liabilities to the new ACLEDA bank, receiving 45% of the bank capital of US$4 million, while the ACLEDA Staff Association purchased a 6% equity share. The remaining 49% was taken in equal part by the IFC, DEG, FMO and Triodos Bank. With the increase of capital to US$13 million, through conversion of staff pension to share capital, ASA raised its stake to 11%, while the ACLEDA NGO share decreased to 40%. In addition, the four foreign investors have all provided additional capital to maintain their shareholding position.

ACLEDA is now Cambodia鈥檚 leading provider of microcredit, holding almost half the national market, and one of its largest commercial banks, with US$84 million in assets.