Message from the Chairman

Message from the Chairman

Chairman of the Board of Directors


As a Bank that is constantly on the move, we are effecting deep-rooted transformation intending to realize our ambition of becoming Cambodia’s leading digital bank. We are a fairly well-capitalized business, which positions us strongly to achieve our goals in the highest growing economy in Southeast Asia markets today.

During 2019, we embraced a frontline position to equip them with tools and training that is extensive, strategic and well-defined. Of course, any kind of change-driven reinvention cannot be achieved in a week or a span of a few months. Rather, it is all about making incremental impacts every day to achieve transformation at an aggregate level over a period. So in 2019, we laid out our strategic roadmap to build a leading financial services institution of Cambodia that is agile, highly-responsive, opportunistic and digital-driven. The year 2019 was when we planted this seed. What gives me the confidence that we’ll achieve success over the long-term is the fact that today, we have a balance sheet of over USD 824M and we are fairly well-capitalized. We serve 100,000+ customers in 19 provinces of the country, even as we believe that there is the substantive scope of expanding the coverage of the Bank on the back of our strong brand equity and robust technological backbone.

Cambodia’s economy has now experienced ~7 percent growth for the fifth consecutive year. Nonetheless, maintaining and accelerating this has been a challenge amid growing vulnerabilities and mounting uncertainties. However, CPBank demonstrated both strength and resilience to deliver value to all of its stakeholders. In 2019, we achieved admirable progress in building a simpler, safer and more customer-focused bank largely thanks to the bank’s dynamic leadership that played a catalytic role in maneuvering the bank through numerous challenges.

Taking into account the emergence of digital banking, upgrading some of our IT infrastructure and Loan Origination systems is a key focus of the bank’s continual efforts to transform and improve. During the year 2019, CPBank experienced notable improvements in key fundamentals with our countrywide network of 51 branches, 60 ATMs and diversified service delivery channels. We also maintained a comfortable liquidity and capital position throughout the year.

As a responsible financier in Cambodia, we are also committed towards the environment and sustainability. We have already implanted Environment and Social Management policy for sustainability in our operations.

In a year characterized by various challenges, we delivered a decent set of results, demonstrating the strength and resilience of our franchise. This proves that our strategy is working. CPBank has generated modest growth in portfolios along with strong profitability ratios in 2019. CPBank’s consolidated total asset size stood at US$ 824 million as of 31st December 2019. With 23% growth in consolidated operating income over 2018, CPBank’s consolidated Profit before Tax stood at US$ 26 million registering a growth of US$ 5 million (25%) over 2018.

Bank’s subsidiary Funan Microfinance also delivered modest growth in 2019 where their loan portfolio has grown to US$ 56 million by 31st December 2019(20% growth over 2018). Funan’s net operating income also grown 19% in 2019 where net profit increased to US$ 3 million from its previous year’s US$ 2 million.

With CPBank’s vision “to be the best mass-market bank that enriches lives and fulfills the growing aspirations of the people of Cambodia and creates sustainable value for shareholders, employees, and society” we are always committed to the society we are operating in.

In my view, the advances the bank made recently, are testaments to our well-equipped Board and our staff, all of whom anticipate and embrace changes. I express my sincere gratitude to my colleagues on the Board for their learned advice which has contributed to impressive results for the bank in 2019. Bearing this in mind, I am thankful to the regulatory bodies of the Kingdom of Cambodia, especially National Bank of Cambodia, General Department of Taxation, Ministry of Economy and Finance, for all of their continued support. I thank every customer of the bank for his/her unwavering trust and support. Finally, I want to applaud the bank’s employees for another year of exceptional performance.

Standing at the edge of an inflection point, our ambition to be Cambodia’s leading financial services provider remains reinforced now than ever before. We remain committed to the success of our operations across the nation and will continue to focus on supporting our people and serving our customers, bringing the best to them at all times.