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