Kredit Microfinance Institute
KREDIT is one of the leading microfinance institutions (MFIs) in Cambodia. KREDIT was established by World Relief US in 1993 to provide financial services and primary health to Cambodia's poor women in the urban and rural. Since its transition to professional MFI in 2004, KREDIT has shown its solid growth with quality, good profit, and also strong contribution to clients and community development. In late 2010, KREDIT got Micro Deposit Taking Institution (MDI) license from National Bank of Cambodia (NBC). Rating agency, Microfinanza, in 2012 conducted rating to KREDIT and showed that KREDIT has moved up another step: financial side got BBB- and social BB+. 2012 was also a remarkable year of KREDIT that we got a new shareholder "Phillip MFIs Pte Ltd", an arm of PhilipCapital (www.phillip.com.sg) based in Singapore which is a leading Integrated Asian Financial Institution with network offices around the world, offering a comprehensive suite of innovative financial products and services to retail, institutional and corporate clients. The institution has a triple-bottom lines embracing sustainability, enabling its clients to achieve socio-economic development, and following guidance of GOD.
To maximinze the impact on poor clients, KREDIT has continued expansion of Vulnerable Service Unit (VSU) by working through integration mode with some development partners to provide poor clients other complementary services: finance-related training (debt management, savings, and budgeting), special agriculture training1, child education, primary health care and HIV/AIDS trainings, and character building to their clients. Some training provided directly by KREDIT's staff and some by the partners based on topics.
As of Jun 2013, KREDIT has provided USD63.57 mil loan outstanding to 63,578 clients through about 65 serving offices and 897 staff members. Regarding saving performance, as of the same date, KREDIT has collected USD13.35 mil from 4,691 savers. Total clients received finance-related training is 18,989, received special agriculture training 3,180, received child education training 4,606. Regarding our education loan, many schools and universities have cooperated and signed agreement with KREDIT and many workshops were arranged for the students to know and use the services. We are in the process of study the possibility to expand the partnership with PATH and IDE in terms of latrine loan.