Logo of Phnom Penh Post newspaper Phnom Penh Post - Acleda: Net profit $39M in April-June

Acleda: Net profit $39M in April-June

Content image - Phnom Penh Post
Acleda Bank Plc said it made more than $39 million in net profit from business operations between April and June 2021, up by 27.66 per cent over the same period last year. Hong Menea

Acleda: Net profit $39M in April-June

The locally-listed Acleda Bank Plc posted more than $39 million in net profit from business operations in the second quarter of this year, an increase of 27.66 per cent year-on-year, despite the economic headwinds caused by the Covid-19 pandemic.

In a financial statement filed to the Cambodia Securities Exchange (CSX) on August 6, the locally-owned Acleda, the largest commercial bank in the Kingdom by assets, said the increase was mainly due to a 41.07 billion riel ($10 million), or 11.49 per cent, year-on-year surge in net interest income. This implies a net interest income of between 398.30 billion and 398.72 billion riel for the April-June period, accounting for rounding.

Acleda president and group managing director In Channy previously told The Post that the financial sector has a vital role to play in the national battle against the spread of the novel coronavirus, injecting liquidity to stimulate the economy.

“The government has prioritised this sector as a means of boosting economic activity and facilitating the daily living standards of the people in the capital and rural areas,” he said. “Under these circumstances, banks are still in operation to serve customers’ needs for financial services during the lockdown period.”

On June 15, Acleda announced that that ASA Plc, an institutional stakeholder, will divest 16.16 per cent of its holdings in the bank – or four per cent of total outstanding ABC shares – to be made available for trading on the CSX this year.

The move was revealed in a notice filed by Acleda to the bourse, addressing the 11,488 individual shareholders who currently hold ASA’s 107,204,547 shares, or 24.7492 per cent of the bank’s outstanding shares.

Acleda raised $17.5 million in its initial public offering (IPO) on the CSX in late May 2020.

The bank became the stock exchange’s sixth publicly-traded firm – and the first commercial bank to issue on the bourse – with a total of 4.34 million shares for sale, or one per cent of its more than 433 million total shares, it said in a previous CSX filing.

MOST VIEWED

  • Prince Norodom Ranariddh passes away at 77

    Prince Norodom Ranariddh, the second son of the late King Father Norodom Sihanouk and former First Prime Minister of Cambodia, has passed away in France at the age of 77. “Samdech Krom Preah Norodom Ranariddh has passed away this morning in France just after 9am Paris-time,”

  • Cambodia purchases 4 million Molnupiravir tablets

    Cambodia has arranged for the purchase of four million US-made Molnupiravir pills – enough to treat 100,000 Covid-19 patients – even though the current rate of daily infections in Cambodia remains low. The medicine will be distributed to state hospitals, pharmacies and private clinics, according to the Samdech

  • Rise in planned flights lifts travel hopes

    Six airlines have applied to resume flights in December, while two others have put in for additional flights and routes, according to State Secretariat of Civil Aviation (SSCA) head Mao Havannall on November 29. These account for 43 new weekly domestic and international flights in December, up 16

  • Is Cambodia’s travel sector in for another cheerless holiday season?

    The travel and tourism sector was heaving back to life as borders started to reopen, promising a festive vibe for the holidays and New Year. But Omicron and other Covid-related issues are threatening to close the year on a bleak note ‘Seems [like] Covid-19 won’

  • Cambodia, Thailand to discuss border reopening

    Cambodian authorities from provinces along the Cambodia-Thailand border will meet with Thai counterparts to discuss reopening border checkpoints to facilitate travel, transfer of products and cross-border trade between the two countries. Banteay Meanchey provincial deputy governor Ly Sary said on November 22 that the provincial administration

  • Cambodia planning new border checkpoint at Thma Da

    Cambodia is looking into the possibility of opening a new Thma Da Border Checkpoint with Thailand to boost trade and tourism. The Ministry of Public Works and Transport said on December 4 that Minister of Public Works and Transport Sun Chanthol led a technical working group