LOLC Cambodia
Native name
LOLC Cambodia
TypePrivate
IndustryBanking and finance
Founded1994; 29 years ago
FounderBrindley De Zylva (Chairman of Board of Directors)
Headquarters
Phnom Penh, Cambodia
Number of locations
83 branches (25 Provinces)
Key people
Sok Voeun, Chief Executive Officer
Productscredit, deposit, finance lease/leasing, local fund transfer, mobile banking and payment services.
USD 58.70 million (2022)
Total assetsUSD 1.48 billion (2022)
Number of employees
3,535+
Websitehttps://www.lolc.com.kh

LOLC Cambodia (Khmer: អិលអូអិលស៊ី (ខេមបូឌា) ភីអិលស៊ី) is the Cambodian subsidiary of Sri Lankan financial services company LOLC Finance, providing services including credit, deposit, finance lease/leasing, local fund transfer, mobile banking and payment services. It is also a Microfinance Deposit-Taking Institution registered with the National Bank of Cambodia (NBC).[1]

History

LOLC Cambodia was established by the Catholic Relief Services (CRS) in 1994, and incorporated as Thaneakea Phum (Cambodia) Ltd. (TPC) in 2002. The National Bank of Cambodia licensed TPC as a Microfinance Deposit-Taking Institutions in 2003. In 2007, TPC-ESOP was set up and became part of the shareholding structure.[2] In 2014, LOLC Micro Investment Ltd. (LOMI) participated as one of the shareholders. In 2015, the company rebranded to LOLC (Cambodia) Plc. and obtained a microfinance deposit-taking license from the National Bank of Cambodia at the same time. From 2018, LOLC Asia Private Limited (formerly LOLC Private Limited) bought all stakes in DWM and LOMI, controlling 96.97% of LOLC Cambodia's total shares, with the remaining 3.03% owned by TPC-ESOP.

LOLC Cambodia originally offered loan services, launching deposit mobilization from 2015, along with mobile banking, internet banking, and local fund transfer, both within LOLC Cambodia and interbank transfer via NBC projects such as FAST, RFT and Bakong.

LOLC Cambodia also issued a CSS ATM Card, connected to a network of over 3,000 ATM machines at CSS-affiliated banks and financial institutions. From 2017, LOLC Cambodia obtained permission from the National Bank of Cambodia to offer a finance lease/leasing service, and in 2022 permission to conduct bancassurance business (Corporate Agent Model).[3]

See also

References

  1. ↑ "Microfinance Deposit-Taking Institutions". www.nbc.gov.kh.
  2. ↑ "TPC - ESOP CO., LTD". opencorporates.com.
  3. ↑ "An Overview". Retrieved 2023-08-22.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.