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Annual Report 2012

PRASAC Annual Report 2012

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Remarks from President & CEO



2012 was a challenging year to serve customers. I am grateful that our customers have remained loyal to PRASAC and have continued to keep their trust in PRASAC. While being happy about our achievements, we are humbled by the thought that there is still a long way to go.


PRASAC, while being the market leader in microfinance with the largest branch network, highest productivity, efficiency, and profitability, and largest loan portfolio in Cambodia, continues to be a sustainable growing financial institution.


Some of the key operational highlights for 2012 are as follows:

  • Total assets at the year-end were USD252 million, up 61% from the end of 2011.
  • The total gross loan portfolio increased by 42% to USD215 million with a total of 134,146 clients.
  • Maintained its leading position in loan portfolio quality with non-performing loans at 0.20%.
  • Savings and deposits balance reached USD57 million with 131,920 depositors.
  • After-tax net profit increased by 33% to USD11.5 million.
  • Return on Equity was 39.5% and Return on Assets was 5.7%


PRASAC’s shareholders are local and international investors from private and international development financial institutions. Directors representing these institutions in the Board of PRASAC, bring with them extensive experience in finance, banking, social
and microfinance. They help establish and maintain a good balance between commercial and social objectives.


In year 2012, PRASAC successfully implemented several important projects. They included launching ATM services, moving new head office, installing of its data center, building two libraries. Over the past two decades of its existence, PRASAC has positioned itself as a leading financial institution with a strong infrastructure and a platform for offering a comprehensive package of financial services to rural and urban clients. In order to deliver these services efficiently, PRASAC has a nationwide office network covering all 24 provinces and city through 167 outlets and  operating  in  10,874  villages-76%  of  all  villages.

More than 100 offices are online, where transactions occur in real time, and 2,135 staff was employed to serve the clients.


PRASAC has many institutions as partners in supporting financial literacy and financial education. As part of its social objectives, PRASAC initiated a program for the constructing and equipping, at its own cost, of libraries for needy public primary schools located in the provinces. Under this program two libraries were built in two public primary schools in Kampong Cham and Kampong Thom provinces. It is expected that these libraries will help more than twenty thousand children cultivate the reading habit and have a better education, leading to a brighter future.


For 2013, PRASAC has priorities as follows:

  • Preparing for transformation to Commercial Bank;
  • Diversifying funding sources by increasing savings and deposits;
  • Further strengthening and improving customer service;
  • Maintaining strong loan portfolio growth by increasing our exposure to the SME segment;
  • Strengthening risk management by implementing and frequently reviewing our risk management policy and practices;
  • Continuing to strengthen our brand.


On behalf of PRASAC’s Management, I would like to thank the management team and all staff for their untiring efforts and commitment, the Board of Directors for their support and advice, the Royal Government of Cambodia, regulatory bodies, the National Bank, and local authorities, who have always supported PRASAC. A special thanks to our loyal clients for their continued patronage.


In conclusion, the management team and staff wish to reaffirm our commitment, to keep improving our services to all our existing and potential clients so that we will grow together in the year to come.

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