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Message From Chairperson


Amret’s operational and financial performance in 2013 was excellent, and this success was complemented by the further evolution and consolidation of the institution. The MFI continued its mission to serve its clientele responsibly and sustainably, increasing its outreach to 116 branches and more than 335,000 clients by the end of December 2013.

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ClaudeFalgonSiteAdvans

The loan portfolio recorded strong but cautious growth over the year, with a 37% increase in the outstanding portfolio and continuously good portfolio quality. These accomplishments resulted in enhanced profitability in 2013, with net income at the end of the year up 44.48% over 2012 figures.


Moreover, Amret continued to introduce new products to better serve its target clientele. The wide range of credit products on offer ranges from solidarity loans for low-income rural populations to business loans for SMEs; the institution offers credit for agribusinesses and commercial farmers as well as individual short and medium-term loans for microenterprises.


On the deposits side, Amret offers current accounts, savings accounts and term deposits, enabling its clients to optimize their liquidity management. In addition, the institution has continued to develop a number of financial services including bill payment and cash collection services. Mobile banking is slated for introduction in 2014.


Amret is progressively improving its organization and practices in preparation for its transformation into a bank. The MFI is especially focused on strengthening its internal audit and risk management, and developing dynamic human resources policies to become a lead employer. In 2014, it will pursue its mission to become a market frontrunner in serving MSMEs and the low- and middle-income inhabitants of Cambodia with a focus on rural areas, agriculture and district and provincial cities.


In closing, on behalf of the Board of Directors, I would like tothank Amret’s management and staff; without their commitment and loyalty, the institution would not have been able to succeed and progress in 2013.

 

Dr. Claude FALGON,
Chairperson