Phnom Penh, December 16, 2016: PRASAC, Cambodia’s leading finance institution which provides sound financial solutions for growth, has achieved a new significant milestone in its 20-year operations by reaching USD 1 billion of loan outstanding portfolio as of end of November 2016.
This is another landmark in the history of PRASAC after the institution reached total assets of over USD 1 billion last year, and increased its registered share capital up to USD 110 million in August this year.
“With the loan portfolio worth of USD 1 billion, we have served and provided better livelihood to more than 340 thousand active borrowers throughout the nation. These loans are healthy since we have strong policy in evaluating loans and repayment capacity of our clients,” said Mr. Say Sony, SVP & Chief Marketing Management.
“We are so happy to play an important role in providing financial solution for the growth of Cambodian families. We firmly believe that the growth on loan disbursement is the reflection of the growth of Cambodia’s economy,” added Mr. Sony.
He continued, “On behalf of PRASAC Management and staff, I would like to express my heartfelt thanks to all clients for their strong support in PRASAC as financial partner. Without them, PRASAC cannot be what it is today. In this sense, we would like to thank to all of our diligent borrowers for their trust and loyalty with PRASAC. I do hope that our borrowers are still with us and use other banking services of PRASAC as well.”