Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Outstanding loans by microlenders down

Outstanding loans by microlenders down

Outstanding loans by microlenders down

THE Cambodian Microfinance Association last week reported outstanding loans have dropped 2.7 percent, or US$11.9 million, in the second quarter of this year compared with first quarter results.

"Outstanding loans dropped to $426.1 million at the end of the second quarter from $438 million in the first quarter, stated the CMA report released Thursday, noting that the number of borrowers remained stable at 1.03 million.

The report also noted, however, that non-performing, or at-risk, loans had risen 1.75 percent to 3.39 percent during the same period.

Hout Ieng Tong, president of CMA, said on Friday that the report's data was compiled from 18 MFI institutions as well as from micro-finance loans issued by ACLEDA bank.

"The decline is due to a drop in business activity and reluctance to invest in the wake of the global financial slump," he said, adding that further declines of up to 4 percent could be expected in the third quarter.

He said the fourth quarter would likely see a rebound of about 5 percent coinciding with the end of the rice harvest.

Paul Luchtenburg, CEO of micro-lender AMK, said Friday the lender's outstanding loans were down 6 percent to nearly $22 million at the end of the second quarter compared with first quarter loans but that he expected a bump in coming months.

"We hope that in the second half of the year we will be able to disburse an additional $3 million to $4 million," he said.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which