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Cambodia Post Bank has built upon the progress we made last year by further strengthening our governance particularly in the areas of risk management, corporate culture, stakeholders relationship and engagement with shareholders. 

Today I feel privileged to be standing before you as the CEO of this Bank that has surely reached some new heights in the year 2017. When I assumed the role about 5 years ago with a vision to be the best mass market bank that enriches lives and fulfills the growing aspirations of the people of Cambodia and create sustainable value for shareholders, employees and society. At the very outset, Bank has set some objectives then, which consisted of: i) operate in the mass market ii) Design and provide innovative financial solutions and deliver the best in class services to our customers; and iii) Acquire and maintain better quality asset. The significance of those archetypical projections has got enhanced in recent years; and today it has become more important for the Bank and the industry as a whole than ever before.

Cambodia Post Bank is continuously growing with the strategic direction from the shareholders amidst of introduction of different new micro prudential regulations during the last year to control the credit growth. Bank could not only able to serve the customers with superior customer service quality but also able to manage the profitability despite introduction of interest Committee of the Board. So as our internal audit and internal control also directly reports to Audit Committee of the Board and completely independent of business. Bank follows the three line of defenses policy where (i) business as the first line (ii) integrated risk management function as the second line and (iii) internal audit as third line defense. Risk management function plays an independent role in checking and validating risk assessments, control activities, risk information, and monitoring activities for the whole bank.

In addition to our business, Bank also committed to corporate social responsibility activities and has contributed to social and economic development through education sector which is considered as the backbone of overall development of Cambodia. Bank always believe in financial inclusion and we are continuously enabling people to realize their dream even at the remote area which ultimately help in poverty alleviation.  The Bank continues to contribute to social development and grow together with our customers. We are also an equal opportunity employee with 1,419 staff and we have 27:73 ratio of female and male in our work force where we encourage local community people to work with us.   

Keeping the macro market conditions as a backdrop, I must say, we have generated modest growth in our portfolios along with strong profitability ratios. Our consolidation total asset size stood at US$ 571 million as of 31st December 2017 against US$ 416 I would like to take this opportunity to thank our most valued clients, well-wishers and most honorable shareholders, in whom we take pride. Without your continuous support and inspiration, we would not be standing where we stand today. Let me also acknowledge the contribution of the regulatory bodies National Bank of 




rate cap for lending early last year. Bank has introduced automated queue management system, revised account opening process to ensure a better customer experience and always at the forefront of technology. Bank has successfully introduced ATM which are already equipped with Central Shared Services to enhance its services further for our customers. Bank also has mobile banking services which enables our customers to use the basic banking needs on 24/7 basis at their own convenience.   

With introduction of 5 new branches in 2017, Bank to has now 42 branches to reach out to our customers. Moreover, Bank has recently acquired 100% stake share of Funan Microfinance and this has helped us to extend our services to more people through its 50 branches across Cambodia. Bank will be at its 5th Anniversary soon and by this period, the bank is well recognized as sustainable with measured fast growth, profitability and become the third largest banking network among commercial banks in Cambodia. Bank always very keen to maintain the international standard and has adopted best practices for organizational structure along with corporate governance, risk management, internal audit, and regulatory compliance. In 2017, we have achieved the Gold Category Award for Tax Compliance.

The Bank has a robust independent integrated risk management function who have direct reporting line to Risk Oversight  million as of 31st December 2016. In 2017, our consolidation loan book increased by US$ 121 million (50%) and deposit from customers rose by US$ 113 million (46%). Our consolidation operating income grown 36% over 2016 whereas Profit Before tax stood at US$ 10.7 million registering a growth of US$ 0.8 million (8.4%) over 2016.

We managed to bring down our Cost to Income ratio to 47.6% in 2017, compared to Cost of Credit % in 2016. This is an indicator of our effort to manage costs across the organization through efficient monitoring and awareness building. Without effective use of both human capital and technology driven tools, achieving this number would not have been possible. 

Capital is the base on which we built our sustainable growth platform, risk management framework and also our long term objectives in order to maximize the stakeholders’ wealth. Our paid-up capital as at 31 December 2017 is US$70.79 million and we have proper plan to reach minimum capital requirement of US$ 75 million by March 2018.

We are committed to build such a culture where ethical codes and standards will be given the highest value when, on the other hand, breach of such conduct will be dealt with utmost strictness. Additionally, we are constantly striving towards building a tighter security, both around and within our IT infrastructure. 

Toch Chaochek
Chief Executive Officer


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