Message from CEO
Industry Competition Environment

With average economic growth for the last five years of around 7%, Cambodia has reached Olympians growth in the global context, supporting the microfinance industry to achieve rapid growth in previous years as well as the prosperous results of 2015. Industry has welcomed new MFIs and newly formalized MFIs to the existing robust market. However, HKL has maintained its market share position of loans at around 12% for the five years up to 2015. HKL has grown loans by 45%, alongside industry growth.

Performance Achievement

HKL’s total financial incomes rose by 41% to USD 64 million from USD 45 million with the support of loan growth and effective loan quality management. Gross loan portfolios grew by 45% to USD 363 million from USD 250 million.

•  The non-performing loan ratio has been maintained at 0.09% in 2015, following the good result in loan quality in most of the branches and management of loan quality at all branches with a non-performing loan ratio of less than 1%.
•  HKL has increased its savings and deposit portfolio by 37% from USD 173 million to USD 236 million. HKL ensures the privacy of client’s data, and protects clients, businesses, and the industry as a whole.
•  HKL surpassed the headline key performance indicator with a return on equity of 23.59%, exceeding the budget of 19.52%.
•  Net interest income rose 38% to USD 39 million from USD 28 million. Operating expenses rose by 23% from USD 20 million to USD 24 million, and were well managed upon the budget on the back of the financial and operational constant growth plan. They were also the result of acquiring and supporting professional staff, training, staff capacity development and performance-based incentives to support higher productivity and profitability.
•  With its stable growth plan and performance achievement as the backbone of its operations, HKL has achieved Net Profit after Tax of USD 11 million, exceeding budget estimates by 15.76%.

Service Quality and Client Satisfaction

HKL continues to improve its service quality from time to time. On an annual basis, regular client satisfaction surveys have been conducted. A number of findings have led to the introduction of prioritized focuses, such as on loan procedures to accelerate the service, service improvement at the counter, and product pricing reviews. Client protection principles through smart campaigns have been incorporated into operations to ensure that clients are well informed and protected for their sustainability. Along with the satisfied clients that HKL has nurtured through the years, HKL has thoroughly acknowledged the engagement of our staff members through various staff benefits as well as the survey on staff satisfaction to provide HKL’s resources to the appropriate group.

Office Network and Product Development

In 2015, HKL’s office network grew to 150 offices, from 143 offices in 2014, bringing our financial services closer to the population and substantially increasing our catchment area. HKL has been offering a comprehensive range of financial products loans (loans to individual businesses, Small & Medium Enterprises, Green Loans, Student Loans) Savings & Deposits, Local Money Transfers, ATM and Mobile Banking.

HKL has installed 30 more ATMs in 2015, bringing our total number of ATMs by the end of 2015 to 102 ATMs across 25 provinces and the capital city, able to serve customers 24 hours per day, seven days per week and 365 days a year, including on national holidays and public holidays. With HKL ATMs, customers can make transactions at any time. These include balance inquiries, mini statements; inter account transfers, remittance/transfers, loan repayments, collection services and mobile phone top-ups. HKL has rolled out micro insurance in partnership with PKMI to 27 branches and test piloted consumption loan products to determine what clients need in terms of personal consumption for their household and family following our market and research findings.

Industry Prospect

With the stable economic growth forecast for 2016 of 0.1% higher than 2015, and Cambodia reaching towards becoming a lower middle income country in 2016, HKL has prospects for continuing growth in loans with its quality and savings portfolio; an increase in the numbers of savers and depositors, user friendly ATMs, and mobile banking subscribers, strong internal control, compliance with regulations, and improved client satisfaction.

Key Focus Goals in 2016

• Adopt and improve the financial accounting system of IFRS.
• Strengthen the capacity of SME lending and upgrade the credit scoring system for SME loans.
• Deliver quality and convenient services to customers through enhancing the facilities of Mobile Banking applications and ATMs, providing services 24 hours a day and 365 days a year.
• Improve the information management system.
• Introduce Financial Leasing.

Giving Thanks

Everything we achieved last year, everything we are today, and everything we stand for is a tribute to the commitment of our stakeholders. We are profoundly grateful for the dedication of all our staff and the loyalty of our customers, the trust of our partners and associates, and the support of the National Bank of Cambodia and the other regulatory authorities that have guided us over the years. My heartfelt thanks to our Chairman, board members, and shareholders for their guidance and support, and for entrusting me to continue to lead HKL. Similarly, my thanks also to my fellow management colleagues for their support and commitment in steering HKL forward.


Hout Ieng Tong
President & CEO

Annual Report 2016
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ATM Network
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Achievement YTD 30 September, 2017
Welcome to Achievement
Number of Office 163
Headquarter 1
Branches Office 59
Sub-Branches Office 104
Total Number of Staff 2,983
Male 2,017
Female 966
Loan Outstanding 519 M USD
Number of Active Borrower 118,697
Deposit 369 M USD
Active Customer 221,012
Business Partnership (%)
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