Message from Chairman​ and CEO


Empowered and bolstered by the continued success of its transformation in 2018, Chamroeun exceeded by most accounts the expectations of the organization for 2019. Chamroeun​ maintained its positioning as the institution offering the lowest average loan size for productive use amongst all Cambodian operators, a testament to its continued commitment to offering solutions for Cambodia’s entrepreneurial families, and it also reached a loyalty rate of 81.6%. Both these indicators demonstrate how effective the client-centric approach of Chamroeun has been in offering services that fit the needs of its partners, with a focus on low-income entrepreneurial families.


Growth for Chamroeun has been strong in 2019, and has been coupled with a similar positive trend in terms of portfolio quality. Year on year, workforce grew by 18% to reach 243 staff, Portfolio grew by 54% to reach 21.5 Million USD, and Active Borrowers grew by 26% to reach 33,060. We further saw a drop of our Operating Expense Ratio of 3.5% to reach 14.9%, and of our Portfolio Yield by 0.8% to reach 30.16%. PAR30 plus write-off further dropped by 1.65% to reach 1.46%. From a financial performance perspective, we registered close to 1.2 Million USD of net profit.


Cambodia’s economy showed continued strong growth in 2019, at 7.1% GDP growth, 5.6% GDP per capita and stable inflation at 1.9%. GDP growth in Cambodia has increasingly been driven by the tourism sector, with garment, construction and trade other strong contributors. It is argued that these foci open Cambodia to some level of risk, with the need to diversify to higher value products and services, as well as strengthening of the agricultural sector which still represents more than 20% of its GDP. The overheating that has been mentioned in the construction sector, the threat of withdrawal of the preferential trade agreement with the EU and other sectoral dependencies on shifting global dynamics have been raised as issues of significant concern moving forward.


Chamroeun’s focus will be to continue developing and adapting services for the needs of low-income entrepreneurial families. This will include an increased focus on the agricultural sector, as Cambodia continues to see increasing income gaps in favor or urban areas, and the continued need to strengthen value chains and financing for these. Chamroeun will aim to continue its work with increased efficiencies, focus on staff retention and development, digital transformation, and continued ambitious growth focusing on the small productive loan market.



   Yours sincerely,                                      Yours sincerely,


Mr. Kuroda Takeshi                             Mr. Yannick Nicolas MILEV

CHAIRPERSON                                  CHIEF EXECUTIVE OFFICER