ACLEDA Bank Plc. Changes Its Logo

ACLEDA Bank Plc, a well-known commercial bank in Cambodia, has changed its current logo to a new one in order to avoid the public confusion, according to the bank’s announcement.

In response to Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen’s reaction in the weekly cabinet meeting last Friday, the bank released the announcement to notify its customers and the public at large about the change of its logo.

The bank further underlined that it is a private owned institution and its does not belong to the Royal Government of Cambodia at all.

According to the Ministry of Commerce’s news release, after the premier’s reaction, an urgent meeting was held between Minister of Commerce H.E. Pan Sorasak and Dr. In Channy President & Group Managing Director of ACLEDA Bank Plc.

ACLEDA Bank was ordered to change its logo because ‘Hang’ (swan) – kind of Khmer mythological bird – used in its logo is also used in the logo of the Ministry of Economy and Finance. With the new logo, Hang was replaced by the word “ACLEDA” in Khmer and English.

The order was made after some people still confused and misunderstood that private banks and microfinance institutions (MFIs) operating in the country belong to the state.

ACLEDA Bank is a public limited company, formed under the Banking and Financial Institutions Law of Cambodia.

Originally, it was founded in January 1993, as a national NGO for micro and small enterprises’ development and credit, then it was licensed by the National Bank of Cambodia as a Specialised Bank on Oct. 7, 2000, and became a commercial bank on Dec. 1, 2003.

The bank has five subsidiaries – ACLEDA Bank Lao Ltd., ACLEDA Securities Plc., ACLEDA Institute of Business, ACLEDA Properties Ltd., and ACLEDA MFI Myanmar Co., Ltd.

At the end of January 2017, ACLEDA Bank has extended to 259 branches located in the provinces and towns across the country.

Source: Agency Kampuchea Press