Orix Corporation, a Japanese financial services conglomerate, reportedly has purchased a 6-percent stake in Acleda Bank Public Limited Company, a microfinance bank in Cambodia [1]. The parties involved have not released further information on the transaction such as the purchase price. Among other investors in Acleda are Jardine Matheson, a Hong Kong-based multinational financial and property asset conglomerate that purchased a 12.25-percent stake in the bank in 2010.
As of December 2011, Acleda reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 1.5 billion, return on assets of 3.73 percent and return on equity of 32.03 percent. As of September 2012, the bank reported a gross loan portfolio of USD 1.2 billion, 306,000 active borrowers, deposits of USD 1.4 billion and 920,000 depositors. As of 2013, Orix reported USD 85.4 billion in total assets and has operations in 34 countries.
By Megan McGowan, Research Associate
About Acleda Bank:
Acleda Bank is a public limited company based in Cambodia. It was originally founded in January 1993 as the Association of Cambodian Local Economic Development Agencies (ACLEDA), a non-governmental organization aiming to raise the standards of living of poor people by promoting economic activities ranging from self-employment to medium-sized business. It was licensed by the National Bank of Cambodia as a “specialized bank” in October 2000 and as a “commercial bank” in December 2003, when it was renamed Acleda Bank. It provides a range of banking services including deposits, loans, cash management and trade services. Acleda also works in Laos through is subsidiary, Acleda Laos, and in Myanmar. As of September 2013, Acleda reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 1.9 billion, return on assets of 3.75 percent and return on equity of 29.52 percent. As of September 2012, the bank reported a gross loan portfolio of USD 1.2 billion, 306,000 active borrowers, 918,000 depositors and deposits of USD 1.4 billion.
About Orix Corporation:
Orix Corporation is a Japan-based financial services group that provides corporate products including leases, loans, automobile operations, retail operations, real estate, life insurance, and banking and loan services. As of 2013, Orix reported USD 85.4 billion in total assets and has operations in 34 countries.
Sources and Additional Resources:
[1] Cambodia Daily Article, http://www.cambodiadaily.com/business/japanese-company-purchases-stake-in-acleda-46911/
MicroCapital: “Triodos Investment Management of the Netherlands Sells Stake in Mongolian TenGer Financial Group to Orix, International Finance Corporation (IFC), Mongolyn Alt Group,” November 16, 2013, https://www.microcapital.org/microcapital-brief-triodos-investment-management-of-the-netherlands-sells-stake-in-mongolian-tenger-financial-group-to-orix-international-finance-corporation-ifc-mongolyn-alt-group/
MicroCapital: “Cambodia Post Bank Opens, Targets Micro-, Small and Medium-sized Enterprises (MSMEs),” October 14, 2013, https://www.microcapital.org/microcapital-brief-cambodia-post-bank-opens-targets-micro-small-and-medium-sized-enterprises-msmes/
MicroCapital: “Acleda Begins Microfinance Operations in Myanmar,” April 9, 2013, https://www.microcapital.org/microcapital-brief-acleda-begins-microfinance-operations-in-myanmar/
MicroCapital Universe Profile: Acleda Bank, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Acleda+Bank
MicroCapital Universe Profile: Orix, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Orix
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