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). The institution has a triple-bottom lines embracing sustainability, enabling its clients to achieve socio-economic development, and following guidance of GOD.
As of Dec 2012, KREDIT has provided USD53.49 million loans to 59,840 clients through about 60 serving offices and 848 staff members. Regarding saving performance, as of the same date, KREDIT has collected USD8.95 mil from 3,358 accounts. 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. Within the year 2012, KREDIT has also set up partnership with PATH and IDE to provide loan to poor family so that they can have a simple set of latrine for their family use. With support from Kiva, Vittana, and Eriks, Education Loan is also a new product that which was successfully developed and planned to be launched in beginning of 2013. With this new product, KREDIT will have broader scope to provide impact on the lives of more poor people. 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+. Result of impact assessment and client's satisfaction in 2012 also show that majorities of clients improved their standard of living, business, asset, and saving. Majority of clients also mentioned their high levels of satisfaction with our services and products.
In addition to above performance and to maximize 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.
You can study more about KREDIT through: www.kredit.com.kh
