Message from Chairman​ and CEO

It is with great honor and satisfaction that we contribute a short address to this report. What an honor to share, every day, the important and challenging work we are trying to achieve, with all the exceptional staff at Chamroeun. Each person has been an essential actor in our rebuilding of the institution that Chamroeun is today. From strengthening its foundations as a leading social microfinance player, to reinforcing each department for these to be both leaner but also stronger, more efficient, and more integrated, and finally to the acquisition by ReNet Japan Group, a company where we found the uniqueness of our ethos as a social business resound, there is little in 2018 that has not undergone significant change, for the better. And these institutional changes have had significant impacts on our performance. The number of our partners grew by more than 9%, while at the same time our portfolio grew by close to 35%. This was accompanied by a reduction in PAR 30 from 3.4% to 1.6% and, maybe the most significant, an increase in our Loyalty Rate from 62.2% to 77.4%, a strong indication of our capacity to deliver products and services that are suited to the families we support, and in a way that is relevant to them.

 Of similar importance was our sharp reduction in staff turnover rates, now below 20%, and demonstrating that Chamroeun is able to attract and retain the highest quality of staff, and to create a work environment that is welcoming and supportive.

 All these great achievements have further been accomplished in a fast-moving environment, economically dynamic, but where there also lie uncertainties as to what the future holds. Regulators and the professional association have done important work in ensuring there is a framework to monitor risks inherent to the debt burden per family that some consider too high, and operators have, for many, taken these issues seriously and adjusted their strategies to address this. Yet many questions are still left unanswered as to how and if the current growth profile can be sustained.


Chamroeun’s answer is clear. We believe microfinance is first and foremost a tool to help families set up, expand, and improve their businesses – as a way to increase, diversify, and render resilient their income streams – as well as to facilitate their access to assets, services, and goods that improve the quality of their lives. We teach each loan officer – and all staff – to understand this, and train them to promote their products and services accordingly. We will continue to run our business on these foundations, using all the tools at our disposal in today’s new world of technology to reach those that still only have access to products and services that do not consider their wellbeing first. 

 At Chamroeun, our success is measured by our partners’ success, i.e. their capacity to improve their living conditions and the opportunities they can provide to their children and families, and by our seeing happy faces on all our staff, each morning, as they enter the office, getting ready for another challenging day ahead.

 2019 will not be a year where we look back on all these changes and sit back, enjoying the fruits of all this hard work. It will be a year of continued challenges, of continued adjustments and developments. We will reinforce our position as a leading social microfinance player, and will expand the access to our products and services to an increasing number of families, diversifying our products and services to better meet their needs.

We thank all of our supporters, our funding partners, our technical partners, board and committee members, our staffs, all the people who share our vision and whose belief in us was a catalyst to our closing this year in celebration and with the ability to look forward with confidence and determination.



   Yours sincerely,                                      Yours sincerely,

    Mr. Yannick MILEV                                  Mr. Chann Savoeung