Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, has announced that it is the source of a six-percent equity stake in Cambodian commercial bank Acleda that was purchased by Orix Corporation, a Japan-based financial services group. The deal was initiated in December 2013, as was reported by MicroCapital at the time, and recently was finalized. The parties involved have not disclosed the purchase price. Triodos is maintaining a minority stake of approximately 6.25 percent in Acleda.
As of December 2012, Acleda reported a gross loan portfolio of USD 1.2 billion, deposits of USD 1.5 billion, assets of USD 1.9 billion, and return on equity (ROE) of 25.2 percent from its domestic operations. Acleda also has operations in Laos and Myanmar. As of 2013, Orix reported USD 85.4 billion in total assets and had operations in 34 countries. As of 2012, Triodos Investment Management managed 19 funds and had EUR 2.2 billion (USD 2.9 billion) in total assets under management.
By Meraj Husain, 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 December 2012, Acleda reported a gross loan portfolio of USD 1.2 billion, deposits of USD 1.5 billion, assets of USD 1.9 billion, and return on equity (ROE) of 25.2 percent from its domestic operations.
About Orix Corporation
Orix Corporation is a Japan-based financial services group that provides financial products including leasing, life insurance, and banking and loan services. As of 2013, Orix reported USD 85.4 billion in total assets and had operations in 34 countries.
About Triodos Investment Management
Triodos Investment Management is subsidiary of Dutch Triodos Bank that manages funds in a range of areas including financial-sector development in developing countries, renewable energy finance and venture capital. As of 2012, Triodos Investment Management managed 19 funds and had EUR 2.2 billion (USD 2.9 billion) in total assets under management. Combined, these funds provide finance to approximately 100 microfinance institutions (MFIs) in approximately 45 countries.
Sources and Additional Resources
[1] Triodos Investment Management: “Triodos Investment Management completes sale of equity stake in ACLEDA Bank Plc, Cambodia,” http://www.triodos.com/en/investment-management/who-we-are/news/press-releases/tim-sells-equity-stake-acleda/
[2] ACLEDA Bank Plc: “Financial Hightlights,” http://www.acledabank.com.kh/kh/eng/fi_financialhighlight.php
MicroCapital, December 14, 2013, “Orix of Japan Buys 6% Stake in Acleda Bank of Cambodia,” https://www.microcapital.org/microcapital-brief-orix-of-japan-buys-6-stake-in-acleda-bank-of-cambodia/
MicroCapital, November 16, 2013, “Triodos Investment Management of the Netherlands Sells Stake in Mongolian Tenger Financial Group to Orix, International Finance Corporation (IFC), Mongolyn Alt Group,” 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, April 19, 2013, “Acleda Begins Microfinance Operations in Myanmar,” 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 Corporation https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Orix
MicroCapital Universe Profile: Triodos Investment Management https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management
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