Five bond-listed firms log strong Q1 growth
Five bond-listed firms log strong Q1 growth
Five corporate-bond listed financial institutions posted very positive growth in the first quarter of the year despite Cambodia’s ongoing battle against the spread of Covid-19 following the February 20 community outbreak.
In its filing to the Cambodia Securities Exchange (CSX) on May 17, microfinance firm LOLC (Cambodia) Plc said its deposit balance and gross loan portfolio reached 2.272 trillion riel ($568 million) and 3.625 trillion riel at quarter-end, both increasing by five per cent over end-2020.
CEO Sok Voeun said the government has responded quickly to the recent spike in cases linked to the latest outbreak.
“We expect the economy to return to growth in 2021. This will help increase household incomes, but not all sectors and regions will benefit equally, so it will be essential to closely monitor household welfare and the need for additional support,” he said.
Meanwhile, Hattha Bank Plc, wholly-owned by Bangkok-listed Bank of Ayudhya Pcl (Krungsri), announced “satisfactory results” in the first quarter, ending with a loan portfolio and deposit balance of $1.412 billion and $821 million, up by seven and five per cent quarter-on-quarter.
Chairman Dan Harsono said: “Krungsri planned to provide additional funding and capital to further strengthen Hattha Bank’s liquidity and capital base in the second quarter. This will ensure the bank continues to perform well in this volatile environment.”
As of end-March, Hattha Bank had restructured about $140 million in loans for more than 14,000 borrowers since the National Bank of Cambodia (NBC) on issued a circular on loan restructuring during Covid-19 back in March 27, last year.
Prasac Microfinance Institution Plc, reported 482.284 billion riel in net revenue in total interest income, up by 13.91 per cent year-on-year from 423.385 billion riel, and 145.978 billion riel in net profit, up by 46.72 per cent year-on-year from 99.496 billion riel.
As of March 31, Prasac had total assets of 15.153425 trillion riel, up by 525.384 billion riel or 3.59 per cent quarter-on-quarter, and total equity of 2.244175 trillion riel, up by 145.475 billion riel or 6.93 per cent quarter-on-quarter.
Advanced Bank of Asia Ltd (ABA) reported 11,453 loans disbursed in the first quarter, worth $505.1 million, increasing its gross loan portfolio by 10 per cent to $4.2 billion.
Its deposit portfolio stood at $5.2 billion, up by seven per cent quarter-on-quarter, while net profit was to the tune of $47.5 million.
Chairman Yves Jacquot was quoted in ABA’s May 17 filing to the CSX as saying: “To play its essential part in supporting borrowers severely affected by the pandemic crisis, ABA continued restructuring the loans following the guidelines from the National Bank of Cambodia.
“As of the first quarter of 2021, there are 10,498 restructured loans with $537 million outstanding. The share of restructured loans in the total portfolio is 13 per cent.”
South Korean-owned Phnom Penh Commercial Bank Plc (PPCBank) reported $726 million in loans outstanding at quarter-end, up from $722 million at end-2020, an $806 million deposit balance, and an 2.15 per cent increase in total equity from $156 million at end-2020 to $159 million at March 31.
