MICROCAPITAL BRIEF: Hattha Kaksekar Limited (HKL) and Angkor Mikroheranhvatho Kampuchea (AMK), Two Microfinance Institutions (MFIs) Located in Cambodia, Receive Deposit-Taking Licenses

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:

MICROCAPITAL.ORG STORY: Cambodian MFIs Cut Interest Rates: Observations From Phnom Penh-Based MFIs Hattha Kaksekar Limited, Prasac MFT Ltd and CHC Limited

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)

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