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Managing Director & CEO's Report


Mr. KIM Bunsocheat, Managing Director & CEO

"Myanmar's economy is projected to stay on a steady growth track over the next two years, supported by economic reforms, global growth, and more significant efforts to attract foreign direct investment. Moreover, Myanmar continues to work on safeguarding economic development, financial stability, and the issuance of necessary and prudential regulations to upgrade the regulatory framework towards international standards. However, these efforts will take time to produce the desired results."

Performance in 2017/18

Competitive Environment

As of March 2018, the Government's Financial Regulatory Department (FRD) announced that the total number of microfinance institutions had reached 176. In spite of this, ACLEDA MFI Myanmar Co., Ltd. managed to maintain its position as market leader in terms of assets, loans, deposits, and profitability. Plans are also in place to expand the branch network to other Regions and States.

Operational Highlights in 2017/18

  • The total loans outstanding portfolio increased approximately 57.42% from US$15,712,714 to US$24,735,217, and the number of active clients increased about 41.28% from 48,531 active borrowers to 68,564 active borrowers in comparison to the previous year 2016/17.
  • The balance of deposits increased by 215% from US$749,212 to US$2,360,317, and the number of depositors increased about 43% from 68,758 to 98,374 depositors in comparison to the previous year 2016/17.
  • Profit before income tax increased about 69.18% from US$1,752,134 to US$3,024,233 and net profit after tax increased approximately 69.87% in comparison to the previous year 2017/18 from US$1,292,524 to US$2,240,037.
  • By the end of March 31, 2018, ACLEDA MFI Myanmar Co., Ltd. had a branch network comprising eight offices (8), three (3) of which are branch offices (Yangon and Bago Region) while five (5) are sub-branch offices in Yangon and Bago Region.
  • As of March 2018, the number of employees of ACLEDA MFI Myanmar Co., Ltd. had increased about 21% in comparison to the same period in March 2017 from 186 to 226 employees which included five Cambodian expatriates.

Strategic Priorities for 2018/19

  1. Strengthen ACLEDA MFI's capital position.
  2. Reduce operational risks through automation.
  3. Continue to build good rapport with all levels of government authorities.
  4. Explore opportunities to expand the branch operations network in the existing regions and to other new states and regions.
  5. Mobilize funding and utilize the low cost of funds by increasing and promoting savings products.
  6. Continue to invest in building management and staff capacities by providing regular training and workshops.
  7. Improve and enhance the customer service quality of ACLEDA MFI Myanmar Co., Ltd. to be a model of good customer service culture to all internal and external customers.
  8. Maintain and manage liquidity and other prudential financial directives in effective ways which comply with all relevant laws and regulatory authorities.

To all our valued customers, my colleagues on the Board of Directors, management and staff, our professional advisors and, not least the Financial Regulatory Department of the Ministry of Finance, I offer my sincerest thanks, both for your support in 2017/18 and in anticipation of a happy and prosperous 2018/19.


Mr. KIM Bunsocheat
Managing Director & CEO of ACLEDA MFI Myanmar Co., Ltd.

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