Net profit at Acleda Bank rose 189 percent to $26.63 million last year, unaudited figures released by the bank last week show. That amount is 30.76 percent above 2008’s profits before the spillover effects of the global economic crisis reached Cambodia John Brinsden, vice chairman of Acleda Bank, said the increase in profit was due to a significant rise in lending activity in the second half of the year, was well as a lowering of the interest rates in deposits.
“In 2010, we decided the situation was looking a lot better,” he said. “We quite sharply reduced our liquidity, or should I say, we started to lend more.” The result from Acleda follow an announcement by Cambodian Public Bank last week that gross profit at the bank had increased about 14 percent to $18.8 million.
According to Acleda’s unaudited results, deposits at the bank totaled $884.88 million at the end of 2010, while the bank’s loan portfolio had reached $735.27 million.
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