PRASAC and Kookmin Bank Cambodia merged as new commercial bank under the brand name “KB PRASAC Bank Plc.”

• PRASAC increased its registered share capital to KHR 1,600 billion (equivalent to USD 400 million). It is distributed among 2 shareholders namely Kookmin Bank Co., Ltd and Kookmin Bank Cambodia Plc.
• PRASAC reached USD 4 billion in outstanding loans.

• The registered share capital of PRASAC KHR 1,200 billion of 4 shareholders is distributed among 2 shareholders such as Kookmin Bank Co., Ltd and Kookmin Bank Cambodia Plc.
• PRASAC reached USD 4 billion of Total Assets.
• PRASAC increased its registered share capital to KHR 1,200 billion (equivalent to USD 300 million).

• The registered share capital of PRASAC KHR 920 billion (equivalent to USD 230 million) of three shareholders is distributed among four shareholders such as KB Kookmin Bank , Bank of East Asia (BEA), LOLC International Private Limited, and PRASAC Staff Company (PSCo).
• PRASAC changed its legal identity and brand name from PRASAC Microfinance Institution Limited “PRASAC MFI LTD” to PRASAC Micofinance Institution Plc. “PRASAC MFI PLC” which was approved by the National Bank of Cambodia (NBC) and Ministry of Commerce (MoC).
• PRASAC obtained securities listing certificate from Cambodia Securities Exchange (CSX).

• Early in the year, PRASAC increased its registered share capital to KHR 672 billion (equivalent to USD 168 million).
• In August, PRASAC increased its registered share capital from KHR 672 billion to KHR 920 billion (equivalent to USD 230 million); it is distributed among three shareholders including Bank of East Asia (BEA), LOLC International Private Limited, and PRASAC Staff Company (PSCo).
• PRASAC’s Cash Deposit Machines (CDM) are available for clients to top-up their account balance anytime 24/7.

• PRASAC reached more than USD 1 billion in its deposit balance.
• PRASAC earned “A & Stable” on Financial Performance from MicroFinanza Rating.

• The registered share capital of PRASAC KHR 440 billion (equivalent to USD 110 million) of the five shareholders above is distributed among three shareholders such as the Bank of East Asia (BEA), Lanka ORIX Leasing Company (LOLC), and PRASAC Staff Company (PSCo).

• PRASAC increased its registered share capital up to KHR 440 billion (equivalent to USD 110 million) for the five shareholders namely the Belgian Investment Company for Developing Countries (BIO), the Dragon Capital Group (DCG), the Netherlands Development Finance Company (FMO), and the Lanka ORIX Leasing Company (LOLC), and PRASAC Staff Company (PSCo).
• PRASAC partners with Phnom Penh Water Supply Authority (PPWSA) to provide the water bill payment service to clients.
• PRASAC launched POS to provide a better service to target clients.
• PRASAC achieved USD 1 billion of loans outstanding in its portfolio.

• PRASAC increased its paid-up capital to KHR 288 billion (equivalent to USD 72 million).
• PRASAC’s total assets increased to more than USD 1 billion.
• PRASAC awarded three MFI awards from International Data Group (IDG) namely Outstanding Retail Banking, Financial Performance, and Security Initiative.
• PRASAC partners with Electricite Du Cambodge (EDC) to offer electricity bill payments service to the market.
• PRASAC earned “A & Stable” on Financial Performance and “4” on Social Performance from Planet Rating.
• PRASAC gained Client Protection Certification from Smart Campaign.

• PRASAC increased its registered capital to KHR 188 billion (equivalent to USD 47 million).
• PRASAC launched new financial service, namely mobile banking and internet banking, to serve other segments of the market.

• PRASAC was awarded the Seal of Transparency from MFTransparency.
• PRASAC received the Outstanding Innovative Microfinance Product Award from International Data Group (IDG).

• PRASAC increased its registered capital from KHR 15.4 billion to KHR 80 billion (equivalent to USD 20 million) after Oikocredit divested.
• The shares of Oikocredit were distributed among the existing five shareholders such as the Belgian Investment Company for Developing Countries (BIO), the Dragon Capital Group (DCG), the Netherlands Development Finance Company (FMO), the Lanka ORIX Leasing Company (LOLC), and PRASAC Staff Company (PSCo).
• PRASAC became the Kingdom’s first microfinance institution with serving ATMs, foreign exchange, fund transfer and payroll services.
• PRASAC also opened a new eco-friendly head office to provide a better services to clients.

• PRASAC earned a grade of “A-” with a “stable outlook” from Planet Rating.

• PRASAC obtained a microfinance deposit taking institution (MDI) license from the National Bank of Cambodia.

• PRASAC engaged in the provision of microfinance services to the rural population of Cambodia through its head office in Phnom Penh and various provincial and district offices.
• PRASAC adopted Oracle Flexcube Universal Banking as its core banking system to ease banking transactions, build a competitive advantage, help better serve the customers across Cambodia, and effectively manage its information systems.
• PRASAC earned a grade of “BBB+” from MicroFinanza Rating.

• Ministry of Commerce and National Bank of Cambodia certified the amended memorandum and articles of association following shareholder changes.
• PRASAC has the registered capital of KHR 15.4 billion (equivalent to USD 3.75 million).

• PRASAC completed its transformation by replacing CRDF with five new shareholders namely Belgian Investment Company for Developing Countries (BIO), Dragon Capital Group (DCG), Netherlands Development Finance Company (FMO), Lanka Orix Leasing Company (LOLC), and Oikocredit. PRASAC thereby had six shareholders including PRASAC Staff Company (PSCo).
• PRASAC received a permanent license from the National Bank of Cambodia.

• With two initial shareholders, PRASAC MFI Ltd., was established and registered with the Ministry of Commerce (MoC) as a private limited liability company. PRASAC received a license from the National Bank of Cambodia to provide financial services to rural communities and micro-enterprises.

• PRASAC project steering committee decided to transform its credit component into a licensed MFI. A trust fund, called the Cambodia Rural Development Foundation (CRDF), and PRASAC Staff Company (PSCo) were established to facilitate the transformation.

• Transformation of the project started through the creation of PRASAC Credit Association as a credit operator registered with the National Bank of Cambodia.

• Began as a development project, funded by the European Union (EU), aiming towards rehabilitating and supporting the agricultural sector in six provinces around Phnom Penh, namely Kampong Cham, Kampong Chhnang, Kampong Speu, Takeo, Prey Veng, and Svay Rieng.