CEO’s Message 2013:

 

Lee Yong Man 

               I am pleased to share that Cam Capital Specialized Bank Plc attained its best financial results and record growth since the bank’s inception. In the year 2013, we continued to make significant progress in all areas of banking operations. This was exemplified in the realization of the milestone of upgrading its banking status to that of a licensed Specialized Bank in the second quarter of 2013, with paid-in capital increased to US$8 million. 

The bank grew its net profit in 2013 by 58%, from US$516,000 in the year 2012 to US$815,000 in the year 2013. The bank’s total assets grew by 52%, from US$21 million in the year 2012 to US$32 million in the year 2013. We continue to emphasize credit quality in our business, and 2013 was no different. Both the careful underwriting of loans, and strong recovery efforts throughout the year contributed significantly in reducing classified loans to 0.7% of the loan portfolio. As per the guidelines of the National Bank of Cambodia, we have made adequate provisions against the various categories of loans. These strong results demonstrate our ability to compete in a challenging financial sector. We continue to grow in a steady and prudent manner, ensuring that profit and growth is finely balanced against risk and liquidity considerations. We also paid close attention to calibrating the growth of both the bank’s assets and liabilities, ensuring that both grow in-sync with one another.

We are thankful for the continued strong support and commitment from our shareholders. This is demonstrated by the increase in shareholder loans from US$15 million in the year 2012 to US$17 million in the year 2013. Our strong operating performance is made possible only with the well-executed and timely processing of loans, the diligent and close follow-up on problem loans, and most importantly the dedication of our hardworking staff. 

We believe that highly skilled and capable employees are our greatest asset, and therefore always strive to attract and retain talent. To achieve this, we have implemented incentives that are in line with employee’s individual performance and the bank’s overall profitability. Fostering of teamwork and the upgrading of skills are given a high level of importance. As an example, we provided the following activities and training for our staff in 2013:

  • Continuous in-house training for all staff.
  • In-house English language classes.
  • External banking course for two of our staff members.
  • External English language classes for four of our managers.
  • Mbwin system training for all department managers, branch general managers, branch operations managers, chief cashier, and all tellers.
  • Social activities such as Cam Capital Football Club for our male staff; our female staff enjoyed personal make-up classes, swimming, and movies outings.
  • Local workshop in Kampot Province (Customer Service and Business Development) for all staff.
  • Overseas workshop in Thailand in November 2013 which was attended by all 110 staff members.

 For the year 2014, we aim to continue our exceptional performance with a target loan portfolio of US$42 million and non-performing loan percentage not exceeding 1.0%. We strive to continue serving our customers at a competitive price, and ensure that customer satisfaction is maintained at the highest level. 

Finally, we would like to thank our Board of Directors for their tireless efforts in guiding the bank’s strategies, and we are grateful to our regulatory authorities, esteemed shareholders, and valued customers for their continued support.

 

Sincerely yours,

 

Lee Yong Man, CEO

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CUSTOMER SERVICE LINE
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