Statement of Chairwoman
In 2024, the global economy sustained stable growth, reflecting cautious optimism despite escalating geopolitical tensions, slowing momentum in China, and tightening international financial conditions. As inflation gradually from two years prior, many central banks began lowering interest rates. Despite facing challenges stemming from the implementation of monetary policies in developed countries, particularly in terms of rising interest rates and exchange rate volatility, the global economy remains stable thus has opened up trade and investment opportunities in Cambodia.
Cambodia’s economy grew 6% driven by external demand, through increased demand for garment products, some emerging non-garment products, and agricultural products. Cambodia’s economic growth has been further supported by foreign direct investment inflows and tourism through an increase in foreign tourists despite low growth in the construction and real estate sectors.
In this dynamic environment, CAMMA adopted an adaptive strategy achieved by the credit portfolio growth of 18%, client base growth of 44%, a positive return of asset ratio, portfolio at risk remained below the industry average, and many significant achievements as illustrated in the Annual Report 2024.
Technology and innovation are the foundations of CAMMA’s strategic plan. Last year, CAMMA launched Loan Origination System (LOS) as a credit service expediter, Human Resources Management System (HRMS) for fostering productivity, enhanced the digital learning platform for user-friendliness, and expanded digital marketing activities. E-complaint System was developed and successfully launched in Q1 2025 to enhance the efficiency of the customer complaint handling mechanism, reinforce accountable service delivery, fulfill the institution’s prior commitment to customer protection, and provide a measurable performance benchmark.
Client protection remained a cornerstone of our operations. Through the Cambodia Microfinance Association and Association of Banks in Cambodia’s initiative, CAMMA and 30 other financial institutions voluntarily participated in the Client Protection Harmonized Tool Assessment which will be conducted in 2025. This marks a significant milestone in our commitment to client protection standards. In addition, the BFIs Code of Conduct and the 8 Client Protection Standards have been widely disseminated within the institution, a complaint management system has been implemented, and the dissemination of financial literacy has been taken great care.
Our commitment to inclusive and sustainable finance was evident through the performance of our Green Loan and WASH Loan products, launched in late 2023. These offerings, in partnership with Water.org and rural credit institutions, have positively impacted community well-being and the environment, aligning with national strategy and the Cambodian Sustainable Finance Principles.
Looking ahead to 2025, CAMMA will develop more potential products, improve the operational and financial ratios for operational resilience, continue digitalizing its operations to better serve clients, increase productivity, and focus on complying with client protection standards before applying for an official customer protection certificate from an international rating company next year. The institution will launch a customer complaint management system “E-complaint”, and develop a mobile application “Camma Mobile App” to meet customers’ needs for digital financial services. Further develop a document management system, digital reporting, additional functions of the Human Resource Management System (HRMS), and the HRMS Mobile Application to improve the capacity and efficiency of employees. The institution will also continue to build strategic partnerships with stakeholders and continue to comply with the Cambodian International Financial Reporting Standards (CIFRS for SMEs).
The robust growth in the client base, particularly in micro and small loans, reflect the execution of a well-targeted market share strategy, serving as a key driver in unlocking the full potential of branch operations. Moving forward, the institution will continue develop new, high-potential financial products to expand its market reach, while enhancing operational efficiency and financial ratios to reinforce resilience amid ongoing economic uncertainties.
These remarkable accomplishments are a testament to the unwavering commitment of our management team and staff, with professionalism, and integrity to customers and the institution. The clear definition of the vision, mission, core values, and strategic plan have pushed the institution to achieve new success continuously.
Finally, I would like to express my deepest gratitude to the management team and staff members at all levels for their dedication and commitment to providing highly responsible financial services, which is the mission of Camma. I would also like to thank the Royal Government of Cambodia, the National Bank of Cambodia, our clients, and partners for their cooperation and support.
