ACLEDA Bank continues to post record gains earning $81M in half-yearly net profit

[cirmedia]

ACLEDA Bank Plc, the only bank trading equities on the Cambodia Securities Exchange (CSX) posted a record first half-yearly profit of $81 million, an increase of 27.4% compared to the same six-month period last year. The bank stated the increase was mainly due to an increase in net interest income of 12.6% over the same period, according to the company’s interim financial report.

Read more: https://cambodiainvestmentreview.com/20 ... et-profit/

[Expatissimo]

I personally do not read much of these Bank Profit reports. They're mostly designed for their own CEO's and shareholders to masturbate on.
Cambodia Public Bank prints annual brochures claiming to be the NO 1 each year but the service is so shit that i really couldn't trust the bank anymore and consequently shut my account down. The real interesting piece is that they said they can only shut down the account entirely after a period of 6 month. That was 2 years ago and they still hold the account as registered. Getting a Visa Card to pay for online purchase of a flight ticket was a nightmare cause none of the staff really knew why it didn't work although there was about a balance of 10 k USD on the account. Much later i found out that Visa had a restriction on the length of the telefone no. they send their code to in order to complete the payment. Next hurdle was that without ever telling me they put a max of 1 k USD for online purchase on the card but 2 k for daily atm withdrawls. Communication with their hotline was miserable until i finally got hold of the Visa Card guy.

Now , being in the NEW NORMAL i keep the balance of my account at the absolute minimum. I simply don't trust any of the Banks here (or elswhere for that matter) because the income of most is shrinking and credits will go belly up in bigger numbers.