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ACLEDA capitalises for growth

ACLEDA capitalises for growth

ACLEDA Bank, the largest locally owned commercial bank in Cambodia, said it has raised its current registered capital by $72.5 million, to $185.6 million, for business expansion domestically and internationally. It is the tenth time the bank has done so.

In Channy, president and group CEO said in a statement that the continuous capital injections are intended to enhance the bank’s operations and to sustain growth.

“As Cambodia’s leading commercial bank for all sectors, ACLEDA Bank always focuses on its customers’ needs and is determined to meet their needs in all segments with more than 21 years of experience with 238 branches and offices throughout Cambodia, 32 in Laos and one office in Myanmar, with the total assets over $2 billion by the end of April 2013,” added Channy.

The additional capital injection will come from stock dividends paid by the bank of $32.5 million, with an additional $40 million in cash injected by shareholders.

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