Focus on e-banking as Acleda profits soar

[geovalin]

Sor Chandara

On the back of a 28 per cent increase in profits last year, the country’s largest bank Acleda Bank said it would increase its focus on development of its electronic banking infrastructure in the ASEAN region, but had no plans of going public yet, according to the bank’s CEO In Channy.

The bank’s unaudited financial results show that the bank increased profit after tax from $82 million in 2014 to $105 million last year. Bank deposits grew 18 per cent to $2.6 billion in 2015, whereas outstanding loans saw a 23 per cent uptick and stood at $2.4 billion, Channy told the Post.

“The factor contributing to profit growth is the efficient management of our expenditure last year,” Channy said. “And if you look at the loan growth, we see that it has not increased as much as it had in 2014, when we had 30 per cent growth.”

read more: http://www.phnompenhpost.com/business/focus-e-banking-acleda-profits-soar