Krungsri pumps $15 million into Cambodian microfinance subsidiary

The voluntary capital increase reaffirms Krungsri’s commitment to the company and strong confidence in the growth of the Cambodian economy, the bank said on Monday.
Dan Harsono, Krungsri head of retail and consumer banking and chairman of HKL’s board of directors, said: “Krungsri is ready to support HKL in serving the financial needs of customers in Cambodia, particularly those who are currently not served by commercial banks and other microfinance institutions while Cambodia’s economy continues to perform strongly.”
“Given the vast wealth of opportunities in the Cambodian market, especially in the segments that are currently underserved, the new capital injection will not only assure continued momentum of HKL’s robust growth path, but also provide additional funds for HKL in growing businesses into new products and customer segments.
“This voluntary capital increase reaffirms Krungsri’s commitment to HKL and strong confidence in the growth and development of the Cambodian economy. HKL’s aspiration is to be a leading player in the Cambodian financial system with a commercial banking licence one day,” he added.
HKL, which is the third-largest microfinance deposit-taking institution in Cambodia, operates a nationwide branch network and its products and services include loans, savings, deposits, ATMs, mobile banking, payroll, money transfer, collection service, and insurance services to meet the varied needs of customers.