ACLEDA first full bank with custodian services
ACLEDA first full bank with custodian services
Public-listed ACLEDA Bank Plc has become the first company to receive the Certificate of Custodian Agent in the Security Sector from the Securities and Exchange Regulator of Cambodia (SERC).
In Channy, ACLEDA president and group managing director, said the certificate meant that it is the first commercial bank in Cambodia to provide custodian services in the securities sector.
“The securities market is seen as an indicator of economic growth, and we have observed that the securities sector in Cambodia has grown markedly, which is a crucial factor in the decision to develop such services,” he said at a ceremony to receive the certificate on May 12.
Through its custodian agent service provider, ACLEDA offers four services, which are cash custody account, securities custody account, and services of custodian agent, Channy said.
As an agent, the bank will play a pivotal role in attracting investors, particularly foreign investors to invest in the securities sector in Cambodia, he added.
Foreign entities wishing to invest in Cambodia have to be made through a custodian agent, Channy said, adding that ACLEDA will make more effort to make the local securities market more active.
The CSX has a total market capitalisation of $2.43 billion. The total trading volume of the exchange increased by 386 per cent in 2021, with the daily trading volume increasing 382 per cent compared to 2020.
As at end-February, the CSX had nine listed stocks – seven listed on the Main Board and two on the secondary Growth Board. Additionally, six companies have issued eight corporate bonds on the exchange.
By March, ACLEDA’s total assets amounted to $8.16 billion, with total credit balance of $5.79 billion and 3.44 million current and savings accounts holding around $5.90 billion.
