Hattha Kaksekar Limited (HKL) and Angkor Mikroheranhvatho Kampuchea (AMK), two microfinance institutions (MFIs) located in Cambodia, have received a deposit-taking license from the National Bank of Cambodia, the central bank of Cambodia.These are now the third and fourth MFIs in Cambodia to have such licenses. HKL applied for a license in December of 2008 and has spent USD 500,000 to prepare its facilities, staff, hardware and software, thus allowing the MFI to begin taking deposits almost immediately. AMK applied a year and a half ago. It will offer the services to six provinces in mid-February of 2010 and to its entire network by May of 2010. AMK has also stated that it will offer interest rates of 11 percent for fixed-term deposits in local currency and 8 percent for fixed-term deposits in USD, rates that are higher than those offered by commercial banks. HKL will offer rates for one-year deposits of 9 percent in local currency and 8 percent in USD.
About:
Hattha Kaksekar Limited (HKL)
Description:
Hattha Kaksekar Limited is a microfinance institution (MFI) based in Phnom Penh, Cambodia. It was founded in 1994 by two charitable organizations, the Organisation Canadienne pour la Solidarité et le Développement (OCSD) and Oxfam International. It was transformed into a non-governmental organization (NGO) in 1996 and a private liability company in 2001. Its financial supporters have included Oikocredit, Norfund, Triple Jump, the French Development Agency (AFD), and Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ).
Microfinance Information Exchange (MIX) Profile:
http://www.mixmarket.org/mfi/hkl
Organization’s Website:
http://www.hkl.com.kh/
Just the Facts:
-Country of Incorporation: Cambodia
-Year Founded: 1994
-Legal Status: Private Liability Company
-Total Assets : USD 36.1 million (as of 31/Dec/08)
-Gross Loan Portfolio: USD 29.1 million (as of 31/Dec/08)
-Number of Active Borrowers: 44,467 (as of 31/Dec/08)
-Return on Assets: 6.86%
-Return on Equity: 39.72%
-Participant(s)/Backer(s)/Investor(s): Oikocredit, Norfund, Triple Jump, the French Development Agency (AFD), Deutsche Gesellschaft für Technische Zusammenarbeit (GTZ)
-Products and Services: Loans, Savings
-Main Funding Sources: Loans, Savings, Shareholder Capital
-General Manager: Hout leng Tong
Contact Information:
Address:
No.239, Trasak Paem Blvd (St.63, Sangkat Beung Keng Kang I, Khan Chamkamorn
Phnom Penh
Pursat
Cambodia
Phone: +855 23 994 304
Email: info@hkl.com.kh
About:
Angkor Mikroheranhvatho Kampuchea (AMK)
Description:
Angkor Mikroheranhvatho Kampuchea (AMK) is a microfinance institution (MFI) located in Cambodia. It was originally founded in 1999 by Concern Worldwide, a charitable organization located in Ireland. It became an independent company in 2003, and was licensed as an MFI in 2004. It offers loans and was granted a deposit-taking license in February of 2010 and will thus offer deposits to all clients by May of 2010.
Microfinance Information Exchange (MIX) Profile:
http://www.mixmarket.org/mfi/amk
Organization’s Website:
http://www.amkcambodia.com/
Just the Facts:
-Country of Incorporation: Cambodia
-Year Founded: 1999
-Total Assets: USD 29.5 million (as of 31/Dec/08)
-Gross Loan Portfolio: USD 23.4 million (as of 31/Dec/08)
-Number of Active Borrowers: 188,696 (as of 31/Dec/08)
-Return on Assets: 4.28%
-Return on Equity: 12.69%
-Participant(s)/Backer(s)/Investor(s): KIVA, Unitus, International Finance Corporation (IFC)
-Products: Loans, Voluntary Savings
-Main Funding Sources: Loans, Shareholder Capital
-Chief Financial Officer: Borann Kea
-Chief Executive Officer: Paul Luchtenburg
Contact Information:
Address:
#191- Block F, Phnom Penh Center, Tonle Bassac, Chamkarmon, P.O. Box 480
Phnom Penh
Phnom Penh
Cambodia
Phone: +855-23 993 062
Email: info@amkcambodia.com
Additional Resources:
Phnom Penh Post article entitled ‘HKL gets green light to receive deposits’: http://www.phnompenhpost.com/index.php/2010021232004/Business/hkl-gets-g…
Phnom Penh Post article entitled ‘National bank grants AMK deposit licence’: http://www.phnompenhpost.com/index.php/2010021031875/Business/national-b..
MicroCapital’s Microfinance Universe profile: Hattha Kaksekar Limited (HKL)
MicroCapital’s Microfinance Universe profile: Angkor Mikroheranhvatho Kampuchea (AMK)
Similar Posts:
- MICROCAPITAL BRIEF: BIO Loans $15m to AMK Microfinance of Cambodia
- MICROCAPITAL BRIEF: AMK of Cambodia Borrowing $7.5m for Green Microfinance via Bond Issue from BII, Symbiotics
- MICROCAPITAL BRIEF: First City Monument Bank of Nigeria Offers Asset Financing Starting at $600
- MICROCAPITAL BRIEF: Microfinance Institution PEBCo-Bethesda of Benin Borrows $2m from Incofin via Agricultural Liquidity Fund
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $1.9m to Mikra for Microfinance in Bosnia and Herzegovina