WB Finance sign Memorandum with Prevoir and Press Conference

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09 September 2016
The Official Grand Opening of WB Finance New Head Office

WB Finance, a leading microfinance in Cambodia and legally grandted a license by National Bank of Cambodia, is pleased to publicize about our New Head Office Building address: #398, Preah Monivong Blvd., Sangkat Boeng Keng I, Khan Chamkarmon, Phnom Penh, Cambodia. The Official Grand Opening are honorably participated by Her Excellency Neav Chanthana, Deputy Governor of the National Bank of Cambodia, His Exellency William A. Heidt, United States Ambassador and our distinguished local and international guests.

The movement of our Head Office is to provide a convenient wide space for our clients with the good working environment for our staffs and to earn an acknowledgement and attraction from public.

Mr.Adrian Merryman, Chief Executive Officer of WB Finance, said “As proud as we are of our growth and technical sophistication, with state of the art banking systems and risk management processes, we are most pleased with our mission focus, having purposely chosen to reduce profit in exchange for having greater social impact. We have augmented our state of the art banking system with a tablet based application suite that will give our staff in the field the ability to serve clients wherever they are, and will shortly be introducing a phone based mobile banking app that will enable clients to transfer funds on the go. Most exciting of all are our product innovation: Three years ago we introduced a child savings product, along with training to encourage parents to plan for their children’s future education from a very early age. Last year we began piloting a debt relief product which helps restore the well-being of clients who have become over-indebted, particularly to informal money leaders, by consolidating their loans at reasonable interest rates and over an extended term that matches their repayment capacity. This is now being carefully rolled out. This year, to help improve the availability and quality of rural healthcare, we began embedding a health and personal accident insurance product provided by our Micro Insurance partner PKMI in our loan products in three provinces. To date, over 20,000 of our clients have been covered at no cost to them. This insurance has paid for appendectomies, hysterectomies, back injuries and other serious maladies, and over time will be extended to all of our loan clients.”

Her Exellency Neav Chanthana, Deputy Governor of the National Bank of Cambodia, said “On Behalf of His Excellency Chea Chanto, Governor of the National Bank of Cambodia and I myself, would like to congratulate on this new achievement and to express my admiration the efforts made by the management and all the staff of WB Finance. We all are very proud to such progress which it comes from the effort and good cooperation between stakeholders, government, National Bank of Cambodia who is the regulatory and supervisory authority, banking and financial institutions, local and international investors and customers. Again, as representing for His Excellency Chea Chanto, I really appreciate and give high values to the effort of all share holders and all managers of WB Finance (Cambodia) Ltd. in spreading their business activities in financial sector that is the practice that involves in developing Cambodia Economy”.

WB Finance is a social leading Microfinance Institution (MFI) in Cambodia and the only licensed Microfinance institution that has a global network of more than 30 countries with mission to brighter future for children, empower families to create income and jobs, and unlock economic potential for communities to thrive.

Meanwhile, to celebrate the Grand Opening of our New Head Office, WB Finance would like to offer a deduction on interest rate for loan client up to 0.25% per month with abundant of benefits, this special promotion will start from today till 31 December 2016.

As of July 2016, WB Finance (Cambodia) Co., Ltd has total assets more than US$ 164 million, and serve more than 310,000 households with a loan portfolio of over US$ 137 million and total savings values of US$ 35 million. Operating in 120 provincial and district branches covering in 25 provinces, it employed over 1,600 highly trained employees. WB Finance (Cambodia) Co., Ltd stands as the top one among WB Finance International and the top four among Microfinance in Cambodia that have the highest number of clients.

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