Phnom Penh, 06 January 2018 — PRASAC, the largest financial institution in Cambodia, held its annual workshop at InterContinental Hotel in Phnom Penh. About 500 management of the institution from all over the country attended this remarkable event of the year.
The annual workshop was held with the objectives to celebrate the achievement in 2017 and to activate business planning for 2018. This annual event also provides chance to all management to strengthen relationship and collaboration and to study best practice to improve work performance through excellence experience shared by best performers.
Mr. SIM Senacheert, PRASAC’s President & Chief Executive Officer, summed up the institution’s progress, “PRASAC has concluded 2017 a landmark year by achieving more than USD 1,548 million of loan portfolio with 390 thousand active borrowers, and increasing deposit balance up to USD 915 million with 538 thousand depositors.”
Mr. Senacheert added, “We are quite proud of this year’s achievement. We’ve faced many challenges yet at the same time we’ve made quite remarkable growth. I would like to take this opportunity to sincerely thank our valued clients for always choosing PRASAC as their financial partners; to staff, management team, and board of directors who have been working hard to make PRASAC enjoy success as a sustainable microfinance institution in Cambodia.”
Mr. Senacheert also expressed his sincere thanks to the Royal Government of Cambodia (RGC), National Bank of Cambodia (NBC), and all stakeholders such as shareholders, regulators and lenders which always show their strong support and trust in PRASAC.
With the remarkable economy growth and the maintaining of political stability, safety social security, and macro-economic stability especially the stability in financial sector, as the end of 2017, PRASAC achieved excellent results:
1. Total assets of over USD 1.75 billion
2. Loan portfolio reached more than USD 1,548 million with total of 390 thousand clients
3. Balance of savings and deposits USD 915 million with total of 538 thousand depositors
4. Office network up to 176 branches
5. Installed 127 ATMs
6. Employed more than 7,000 staff.