Logo of Phnom Penh Post newspaper Phnom Penh Post - ACLEDA builds new HQ

ACLEDA builds new HQ

ACLEDA builds new HQ

121218 09
ACLEDA Bank president and chief executive In Channy (centre) sprinkles flower petals during a groundbreaking ceremony at the site of the new ACLEDA headquarters in Phnom Penh yesterday. Photograph: Vireak Mai/Phnom Penh Post

ACLEDA Bank president and chief executive In Channy (centre) sprinkles flower petals during a groundbreaking ceremony at the site of the new ACLEDA headquarters in Phnom Penh yesterday. Photograph: Vireak Mai/Phnom Penh Post

ACLEDA Bank, Cambodia’ leading commercial bank, held a ground-breaking ceremony yesterday for its new 20-storey headquarters, which will be located directly behind its present building.

The new headquarters will cover 43,000 square metres, with parking for 700 cars. Construction is scheduled for completion in two years.

ACLEDA Bank president and CEO In Channy said at the ceremony the bank had grown tremendously in the 12 years since it was granted its banking certificate by the National Bank of Cambodia.

Loan portfolios have grown on average by 47 per cent and average savings growth has been 98 per cent in that time.

In 2007, Acleda’s total loan portfolio was valued at US$15 million and savings totalled $344 million, but loan portfolios had grown to $1.2 bill-ion and savings had risen to $1.4 billion by late November 2012, Channy said. There are 338 branches and 7,611 staff members in Cambodia.

“We have met the challenge of serving our customers and increasing the number of customers from year to year, so we decided to build new headquarters with wide office spaces and upgraded safety features to complement the demand of our increasing customers,” he said.

The building will be on Preah Monivong Boulevard, in Phnom Penh’s Daun Penh district. Construction will be handled by Hyundai Amco, which has taken on construct-ion projects in South Korea and other countries.

Channy said the new headquarters would have a security system, energy conserving features and a centralised network monitor.

He did not disclose the budget for the project but did say: “We spent $6 million on the current six-storey headquarters, but we will spend several million dollars for a several-storey building.”  

Bu H W Son, the managing director of Hyundai Amco, said: “They will spend $45 million on this construction over two years.”

He added that the building would be built to internat-ional standards and have good-quality equipment.

MOST VIEWED

  • Hun Sen rejects ‘rift’ rumours spread by ‘stupid gangsters’

    Prime Minister Hun Sen on Wednesday denied a “rift” among top leaders of the Cambodian People’s Party (CPP), and rejected claims that Senate president Say Chhum and Interior Minister Sar Kheng were set to be removed from their positions as rumours spread by “gangsters”.

  • Huge 3.5-tonne ivory haul seized in capital

    Working with US officials, Phnom Penh Autonomous Port has uncovered almost 3.5 tonnes of elephant ivory hidden in a container, the US Embassy in Cambodia said on Facebook on Saturday. A tip-off provided to the General Department of Customs and Excise by a US Fish and

  • EU ambassador to Cambodia: Rights a ‘work in progress’

    The EU ambassador to Cambodia has called human rights “a work in progress” and said the 28-nation bloc has “carefully” noted last week’s statement by the government on taking further steps to strengthen democracy and the political sphere in the Kingdom. The EU marked

  • Assembly passes amendment to Political Party Law Article 45

    The National Assembly on Thursday unanimously approved a proposed amendment to Article 45 of the Law on Political Parties in a move that could pave the way for former senior opposition leaders banned for five years to return to the political stage. As expected, the 115 ruling