19 June 2014
Acleda Bank has reinvested $39
million of profits back into its operations instead of paying out dividends to
shareholders.
It is the 11th time Alceda has
opted to increase registered capital, with the latest top-up taking the bank’s
total capital to more than $225 million, according to the statement. Acleda CEO
is quoted in the statement as saying that the capital increase will fund the
opening of an additional 21 branches by the end of the year. Acleda executive
vice president and chief operating officer, said the decision to inject the
profits, which equals more than 50 % of the firm’s $77 million recorded at the
end of 2013, was agreed to by all major company shareholders.
Acleda is 51 % owned by Cambodian
interests. The remaining 49 % is owned by the World Bank’s International
Finance Corporation, Dutch-owned banking firm Tridos, Hong Kong-based JSH Asia
Holding Limited, COFIBRED a subsidiary of France-based company BRED Banque
Populaire, and Japanese financial conglomerate Orix.
Source:
http://www.phnompenhpost.com/business/acleda-sets-aside-39m-branch-expansion
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