International Expansion
In 2008 ACLEDA Bank expanded its business to Lao PDR, becoming the first Cambodian bank to begin operations within the country. ACLEDA currently manages 25 branches within Lao PDR, and is actively expanding its branch network nationwide. The bank is also taking steps to start operations in Myanmar in partnership with the National Bank of Cambodia, following the lifting of international sanctions in early 2012. The bank applied for a micro-finance license in Myanmar in June 2012. ACLEDA will provide deposit accounts and money transfers via micro-finance services. The first branch is expected to open by January 2013.
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“Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation’s press and platform. Free speech does not live many hours after free industry and free commerce die.”
—Herbert Hoover (1874–1964)