Phillip Bank
Partner Description:
Philip Bank (formerly known as Kredit MFI) transitioned into a professional MFI in 2004, since then it has been able to scale its operations and outreach while continuing to contribute to client and community development. The institution maintains a real commitment to developing the rural economy in Cambodia. In 2010, Philip Bank received a Micro Deposit Taking Institution (MDI) license from National Bank of Cambodia (NBC) allowing it to offer a savings service to their clients.
In December 2017 Kredit MFI was acquired by an arm of PhilipCapital group, the parent company of Philip Bank, a Singaporean owned Commercial Bank operating in Cambodia since 2009. Following a two-year long merger process, in January 2020, Kredit MFI was formally merged with Philip Bank and since then continues its operations under the name of Phillip Bank Plc. Philip Bank remains committed to its social values, together with banking operations it keeps its focus on enhancing and developing its Microfinance portfolio and other financial services related to financial inclusion.
Beyond the variety of credit products (loans, savings/deposits, local money transfer, currency exchange etc.) offered to the customers, Philip Bank delivers a number of non-financial services to its clients. This includes training on financial literacy, practical agriculture, parenting and other fields according to the needs of the communities. Philip Bank has fully endorsed the SMART campaign for client protection principles (CPP) and has developed Social Performance Management (SPM) system in order to measure the impact of its work. Its membership of a number of local and international associations/groups is allowing the institution to further learn and share experience.
Currently Philip Bank ’s sole shareholder is Phillip MFI Pte Ltd, an arm of PhillipCapital Group which is an entity established in 1975 and headquartered in Singapore. The Group operates financial hubs in over 15 countries globally.
Awards:
Philip Bank has received numerous awards/recognition, from national and international organizations, for their work. These include:
• STAR Award from Mix Market
• “Most Innovative Non-Profit / Social Enterprise” from Singapore Venture Capital and Private Equity Association (SVCA)
• Seal of Pricing Transparency from MFTransparency
• Financial Transparency Award from CGAP in 2005 and 2006
Loan Alert Note
Repayment Performance on Kiva
This Field Partner | All Kiva Partners | ||
Start Date On Kiva | May 3, 2006 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $17,262,775 | $1,495,032,325 | |
Amount of raised Inactive loans | $1,250 | $347,250 | |
Number of raised Inactive loans | 1 | 149 | |
Amount of Paying Back Loans | $1,299,750 | $153,404,400 | |
Number of Paying Back Loans | 1,032 | 187,447 | |
Amount of Ended Loans | $15,961,775 | $1,341,280,675 | |
Number of Ended Loans | 16,827 | 1,759,156 | |
Delinquency Rate | 0.53% | 20.67% | |
Amount in Arrears | $4,934 | $20,066,413 | |
Outstanding Portfolio | $801,324 | $97,093,255 | |
Number of Loans Delinquent | 23 | 70,029 | |
Default Rate | 0.26% | 1.73% | |
Amount of Ended Loans Defaulted | $41,725 | $23,256,208 | |
Number of Ended Loans Defaulted | 80 | 57,822 | |
Currency Exchange Loss Rate | 0.00% | 0.40% | |
Amount of Currency Exchange Loss | $0 | $6,269,289 | |
Refund Rate | 0.44% | 0.62% | |
Amount of Refunded Loans | $75,700 | $9,331,075 | |
Number of Refunded Loans | 96 | 8,663 |
Loan Characteristics On Kiva
This Field Partner | All Kiva Partners | ||
Loans to Women Borrowers | 89.06% | 76.90% | |
---|---|---|---|
Average Loan Size | $670 | $393 | |
Average Individual Loan Size | $878 | $606 | |
Average Group Loan Size | $1,273 | $1,777 | |
Average number of borrowers per group | 3 | 7.9 | |
Average GDP per capita (PPP) in local country | $2,600 | $5,710 | |
Average Loan Size / GDP per capita (PPP) | 25.77% | 6.89% | |
Average Time to Fund a Loan | 5.88 days | 7.8 days | |
Average Dollars Raised Per Day Per Loan | $113.89 | $50.45 | |
Average Loan Term | 16.63 months | 11.37 months |
Journaling Performance on Kiva
This Field Partner | All Kiva Partners | ||
Total Journals | 5,782 | 931,594 | |
---|---|---|---|
Journaling Rate | 33.07% | 43.17% | |
Average Number of Comments Per Journal | 0.08 | 0.03 | |
Average Number of Recommendations Per Journal | 3.65 | 0.69 |
Borrowing Cost Comparison (based on 2016 data)
This Field Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 23% PY | 30.00% PY | 26.45% PY | |
---|---|---|---|---|
Profitability (return on assets) | 1.82% | 4.6% | -0.68% | |
Average Loan Size (% of per capita income) | 93.60% | 184.00% | 12.07% |
Country Fast Facts
- Country:
- Cambodia
- Capital:
- Phnom Penh
- Official Language:
- Khmer
- Population:
- 15,458,332
- Avg Annual Income:
- $2,600
- Labor Force:
- agriculture: 55.8%, industry: 16.9%, services: 27.3%
- Population Below Poverty Line:
- 20.00%
- Literacy Rate:
- 73.90%
- Infant Mortality Rate (per 1000):
- 51.36 deaths
- Life Expectancy:
- 63.78 years
Field Partner Staff
Joshua Benadummach Chan
socheata Chao
Santiago Cortes
Sothea Dith
Team Editing
Soung Engchhay
Anjali Fleury
Alexander Groeneveld
Vanhom Hay
Vibol HIM
Thyda HOT
Sopheap Khiev
Sambo Lim
Sokroeun Lim
Sokroeun Lim
Da Lin
Chanvannak Long
Marjorie Marasigan
Vichet Ouch
Chhayna Phan
Yort PO
Riphin San
Mark Schmeissing
Isadora Tang
Sokly Thav
Ek Thida
Sambath Thida
David Weber
Jeff Zira