Hattha Bank (previously Hattha Kaksekar Limited) (HKL) (translated literally from the Khmer, "A Helping Hand for Farmers") is a Cambodian bank and microfinance institution (MFI) in Cambodia.
| Company type | Microfinance institution |
|---|---|
| Industry | Financial services |
| Predecessor | Hattha Kaksekar |
| Founded | 2001 as a Limited company |
| Founder | Food security project |
| Headquarters | |
Number of locations | 177 branches (2020) |
Area served | Cambodia |
| Products | Loans, Savings and deposits, money transfer, ATMs, mobile banking and Payroll services |
| Owner | MUFG Bank |
| Parent | Krungrsi Bank of Ayudhya |
| Website | www |
As of 2014[update], its loan portfolio was ranked fourth and it had the third largest saving portfolio among Cambodia microfinance institutions.[1] In 2016 it was acquired by Krungrsi, a major bank in Thailand and in 2020 it converted to a full commercial bank.
History
editHKL is a former food security project launched in the Pursat Province in Cambodia by OCSD/Oxfam–Quebec in 1994. It was registered as an NGO with the Ministry of Interior in 1996. In 2001, Hattha Kaksekar Limited was born after it registered to the Ministry of Commerce with an overall capital of $77,850 and was offered a three-years MIcro-finance Instituation (MFI) license. When it reached sustainability, the National Bank of Cambodia granted a permanent license to HKL in 2007 and a Micro-finance deposit-taking institution license in 2011.[2]
In 2016 Krungrsi is a subsidiary of Bank of Ayudhya, a commercial bank in Thailand, and a member of MUFG Bank of Japan acquired Hattha Kaksekar.[3]
In 2020 Hattha Kaksekar became a registered commercial bank when it obtained a banking license by the National Bank of Cambodia and was renamed as Hattha Bank.[4]
In July 2023, a bank employee was arrested for allegedly stealing more than $600,000 from a customer.[5]
Demographics
editAs of 2011[update], the banks customer base were 66% rural. According to a Microfinanza rating report, 40% of its lending activities funded agricultural projects.[6][7]
In 2013, women clients represented between 60% and 80% of overall customers.[8]
By 2014, HKL had launched products for Small and Medium Enterprises (SMEs) and Micro-Small and Medium Enterprises (MSMEs).[9]
Capital structure
editIn September 2016, Krungsri entered Cambodia with the acquisition of Hattha Kaksekar, the country's fourth largest microfinance institution.[10]
HKL has previous eight shareholders:
- Oikocredit is the first private investor in microfinance. It funds trade cooperatives and SMEs and it bolsters small businesses through MFIs.
- ANM Fund[11] is a Dutch-based mutual fund for microfinance.
- Norfund, Norwegian state-owned fund, invests in financial institutions, SME investment funds, renewable energies and agriculture.
- HK NGO is the former food security project that was restructured and became a shareholder of HKL.
- responsAbility Participations AG[12] is an investment stock corporation from Switzerland. It invests mostly in financial institution in the developing world.
- responsAbility Investments AG[13] is an asset manager specialized in sectors related to development.
- HKL staff is an association that gathers all staff members who bought HKL shares.
- Dr. Dy Davuth is a personal investor who has experience in microfinance, administration and business development.
Branch network
editIn December 2014, HKL office network accounted for 151 offices mainly in rural areas spread among 25 provinces.[14]
Products
edit- Loans - Creditworthiness, loan size and loan currency are the criteria on which interest rates setting is based. Concerning the use of the loan, supporting business activities or personal consumption can both be funded. In 2013, new products were launched: Green loans and Khmer Student loans.[15]
- Savings and Deposit - The MFI developed three types of accounts: Voluntary savings: savings accounts and VIP accounts, Recurrent savings: Planned savings accounts, Kid and retirement accounts, and Fixed deposits: a form of capitalization designed for high income. Clients can also use this product for charity purpose.
- Money Transfer - National money transfers to family, relatives or business partners transit via HKL branch network.
- ATMs - Launched at the end of 2012, ATM network accounted for 38 machines in Cambodia in August 2013.[16] It allows customers to perform cash and non-cash transactions.
- MyMobile Banking - Mobile banking services allow customers to perform transactions such as inquiries about an account balance, look-up for an ATM location, mobile top up, bill payments and transfer funds. In addition, HKL has launched SMS notifications.
- Payroll Service
References
edit- ^ NIX Data, March 2014, CMA website
- ^ នាំខ្លួនអតីត ប្រធាន ផ្នែក ត្រួតពិនិត្យ និង ប្រតិបត្តិការ នៃ ធនាគារ ហត្ថា ម្នាក់ - People News Asia (in Khmer), retrieved 2024-02-23
- ^ "Krungsri's Cambodian Subsidiary Hattha Kaksekar Obtains Commercial Banking License" (PDF). Mitsubishi UFJ Financial Group. September 8, 2020.
- ^ "Hattha Bank receives greenlight to raise $25 million in capital". Khmer Times. May 5, 2021.
- ^ នាំខ្លួនអតីត ប្រធាន ផ្នែក ត្រួតពិនិត្យ និង ប្រតិបត្តិការ នៃ ធនាគារ ហត្ថា ម្នាក់ - People News Asia (in Khmer), retrieved 2024-02-23
- ^ "HKL, Hattha Kaksekar Ltd - Développement économique de l'un des pays les plus pauvres du monde - Oikocredit France". Oikocredit.fr. Retrieved 2014-07-23.
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 2014-08-08. Retrieved 2014-07-31.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Hattha Kaksekar Limited - MFTransparency.org Truth In Lending Tables". Mftransparency.org. 2013-03-20. Retrieved 2014-07-23.
- ^ "Hattha Kaksekar Ltd. | MFIs in Cambodia". Mixmarket.org. Retrieved 2014-07-23.
- ^ "Bank of Ayudhya evolving into first tier regional player under Japan's BTMU". Nikkei Asian Review. Retrieved 2019-11-17.
- ^ "Triple Jump.eu: Microfinance Investment Management and Advisory Services - ASN-Novib Microcredit Fund". Archived from the original on February 9, 2014. Retrieved July 31, 2014.
- ^ "Media releases - Media releases - responsAbility Participations AG - Capital increase successfully completed". responsAbility. Retrieved 2014-07-23.
- ^ "Investing - responsAbility news". responsAbility. 2014-07-14. Retrieved 2014-07-23.
- ^ "Hattha Kaksekar Limited". Hkl.com.kh. Archived from the original on 2014-08-03. Retrieved 2014-07-23.
- ^ "Hattha Kaksekar Ltd. | MFIs in Cambodia". Mixmarket.org. 1994-05-01. Retrieved 2014-07-23.
- ^ "Hattha Kasekar Limited (HKL) added more 16 ATMs in Cambodia | The Association of Banks in Cambodia". Abc.org.kh. Archived from the original on 2014-08-08. Retrieved 2014-07-23.