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Managing Director & CEO's Report


Mr. Kim Bunsocheat, Managing Director & CEO

Myanmar has made efforts to boost investment and tackle the country's macroeconomic challenges through a series of reforms aimed at opening up more of the economy to foreign participants. The financial sector has been a key focus, with wide ranging interest in liberalization efforts following the decision to allow foreign banks to provide financial services direct to Myanmar firms for the first time. The insurance industry is particularly poised for expansion, following the decision to allow international players to fully participate in the market in the coming financial year.

Performance in 2018/19

Competitive Environment

In March 2019, the Financial Regulatory Department (FRD) announced that the total number of microfinance institutions increased by seven compared to the same period last year, up from 170 to 177. In spite of this, ACLEDA MFI Myanmar Co., Ltd. has maintained its position as market leader in terms of assets, loans, deposits, and profitability. We also have an interest in expanding our branch network to other Regions and States.

Operational Highlights in 2018/19

  • The total loans portfolio increased by 26.94% from MMK 33,021,514,673 to MMK 41,918,562,968, and the number of active clients increased by 17.28% from 68,564 to 80,412 active borrowers in comparison to the previous year 2017/18.
  • Total deposits increased by 88.47% from MMK 3,151,022,902 to MMK 5,938,685,840, and the number of depositors increased by 28.22% from 98,374 to 126,238 depositors in comparison to the previous year.
  • The total assets of ACLEDA MFI Myanmar Co., Ltd. increased by 43.51% from MMK 34,749,152,915 to MMK 49,868,396,243 in comparison to the previous year.
  • As of March 31, 2019, ACLEDA MFI Myanmar Co., Ltd. Has a branch network with nine offices (9), seven (7) of which are branch offices (Yangon and Bago Region) and two (2) are sub-branch offices in Yangon and Bago Region.
  • As of March 2019, the number of employees of ACLEDA MFI Myanmar Co., Ltd. had increased by 96% in comparison to same period in March 2018, from 226 to 443 employees which included 6 Cambodian expatriates.

Strategic Priorities for 2019/20

  1. Strengthen ACLEDA MFI's capital position.
  2. Reduce overall operational costs.
  3. Continue to build good rapport with all levels of government and to sustain their ongoing support for ACLEDA MFI Myanmar Co., Ltd.
  4. Explore opportunities to expand the branch operations network in 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 the capacity of management and staff 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 an effective way that complies with all relevant authorities and regulatory agencies.

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 2018/19 and in anticipation of a happy and prosperous 2019/20.


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

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