Annual Report 2013

ANNUAL REPORT 2013 CONTENTS HIGHLIGHT ON KEY ACHIEVEMENTS ......................................................................................................................................................................... 1 MESSAGE FROM CHAIRPERSON ...................................................................................................................................................................................... 3 MESSAGE FROM CHIEF EXECUTIVE OFFICER ......................................................................................................................................................... 4 CHAMROEUN AT A GLANCE ............................................................................................................................................................................................ 5 VISION, MISSION, AND CORE VALUES ..................................................................................................................................................... 8 OPERATIONAL PERFORMANCE ....................................................................................................................................................................................... 9 OPERATIONAL COVERAGE ............................................................................................................................................................................. 9 SCALING UP OUTREACH TO MORE POOR HOUSEHOLDS ................................................................................................. 10 NEW FINANCING INITIATIVES TO HELP THE POOR ADDRESS THEIR VULNERABILITIES ................................. 11 NEW MICROINSURANCE SCHEME FOR BETTER HEALTH TREATMENT ...................................................................... 13 SOCIAL PERFORMANCE ........................................................................................................................................................................................................ 14 SOCIO-ECONOMIC SERVICES FOR MORE MEANINGFUL IMPACTS ............................................................................... 14 SOCIAL PERFORMANCE MONITORING ............................................................................................................................................... 16 EXTENDING CHAMROEUN’S ACTIVITIES BEYOND SOCIAL MICROFINANCE ....................................................... 17 REVISED STRATEGIC PLAN FOR 2013-2017 ............................................................................................................................................................. 18 GOVERNANCE .............................................................................................................................................................................................................................. 19 SHAREHOLDERS AND SHAREHOLDING STRUCTURE .............................................................................................................. 19 BOARD OF DIRECTORS ...................................................................................................................................................................................... 21 KEY ACTIVITIES OF OUR SPECIALIZED COMMITTEES ................................................................................................................. 22 EXECUTIVE TEAM .................................................................................................................................................................................................... 23 EXPANDING STRUCTURE FOR BETTER SERVICE QUALITY AND INNOVATIONS ............................................... 24 STAFF DEVELOPMENT ............................................................................................................................................................................................................. 26 BUILDING UP OUR HUMAN CAPITAL: A KEY PRIORITY ........................................................................................................... 26 MOTIVATION, INSPIRATION, AND EMPOWERMENT THROUGH REWARDS AND - SUCCESSION PLANNING ................................................................................................................................................................................. 27 RECOGNITION AND AWARDS ........................................................................................................................................................................................ 28 AUDITED FINANCIAL STATEMENTS ............................................................................................................................................................................. 29 REPORT OF BOARD OF DIRECTORS ....................................................................................................................................................... 29 REPORT OF THE INDEPENDENT AUDITORS ..................................................................................................................................... 33 BALANCE SHEET ..................................................................................................................................................................................................... 35 INCOME STATEMENT .......................................................................................................................................................................................... 36 STATEMENT OF CASH FLOW ........................................................................................................................................................................ 37 STATEMENT OF CHANGES IN EQUITY .................................................................................................................................................. 38 RATIONALE BEHIND OUR CHOSEN CORPORATE “PINK” COLOR AND LOGO ...................................................................... 39 NETWORKS AND PARTNERSHIPS ................................................................................................................................................................................... 41 OFFICE ADDRESSES ...................................................................................................................................................................................................................... 42 HIGHLIGHT ON KEY ACHIEVEMENTS OPERATIONAL PERFORMANCE 2011 2012 2013 Operating Provinces 9 13 14 Operating Districts 51 72 83 Operating Communes 341 505 577 Operating Villages 1,936 2,969 3,620 Main Branches 12 14 15 District Branches 3 7 24 7EXIPPMXI3J½GIW 914 - Active Borrowers 27,900 41,480 52,419 Gross Loan Portfolio (KHR’Million) 12,980 20,269 25,199 Average Loan Disbursed (KHR) 667,300 727,300 784,100 Staff 163 213 333 0SER3J½GIVW 84 102 164 &SVVS[IVWTIV0SER3J½GIV 332 407 320 Portfolio at Risk (30 Days) 0.05% 0.05% 0.33% Write-off Ratio 0.06% 0.02% 0.05% ANNUAL REPORT 2013 1 SOCIAL PERFORMANCE 2011 2012 2013 Female Borrower Ratio 81.2% 85.4% 83.5% Average Loan Portfolio as % GNI per Capita 12.6% 12.6% 12.4% Partner Loyalty Rate 75.2% 70.8% 72.3% % Female Staff 19.0% 26.3% 22.4% % Female Management 22.2% 18.2% 23.3% % Staff with Disability 0.6% 1.9% 1.7% Staff Turnover Ratio 9.9% 10.8% 16.5% Participants to Financial Literacy and Business Training 44,663 44,148 11,080 Participants to Training on Social Topics. 49,701 37,933 1,952 FINANCIAL PERFORMANCE 2011 2012 2013 Total Asset (KHR’Million) 17,627 24,874 31,041 Total Equity (KHR’Million) 2,914 5,535 7,034 2IX4VS½XEJXIV8E\IW (KHR’000) 465,826 149,790 373,486 Porfolio Yield 49.8% 43.5% 47.1% 3TIVEXMSREP7IPJWYJ½GMIRG]2 108.1% 103.5% 104.2% Return on Assets2 2.4% 0.4% 1.6% Return on Equity2 11.6% 2.2% 6.8% 2)\GPYHMRKKVERXW*<GSRZIVWMSRERHRSRSTIVEXMRKI\TIRWIW 2 ANNUAL REPORT 2013 MESSAGE MS. HÉLÈNE KERAUDREN FROM CHAIRPERSON Chamroeun continued to serve strong social objectives in All these developments and achievements will be further 2013 by combining growth in outreach with new products consolidated in 2014 as Chamroeun remains committed and services to better address its Ipartners’ needs. By XSTVSZMHMRKMRRSZEXMZIWSGMEPQMGVS½RERGIWIVZMGIWXSMXW I\TERHMRK MXW RIX[SVO GPSWIV XS XLI GSQQYRMXMIW MX partners to help them succeed in their ventures. serves, the institution now reaches out to more than 52,000 active borrowers in 14 provinces of Cambodia. -[SYPHPMOIXSI\XIRHQ]XLEROWXSXLIXIEQJSVXLIMV The focus remains, as always, on poorer households, with I\IQTPEV]GSQQMXQIRXERHXSEPPWXEOILSPHIVWJSVXLIMV a range of affordable and adapted products and services. active support; I trust that the strong social values shared at all levels of the organisation will continue to make New developments in 2013 have allowed Chamroeun to 'LEQVSIYREOI]WSGMEPQMGVS½RERGITPE]IVMR'EQFSHME bring innovative and ever more complete services to its partners: access to a microinsurance provider to cover YRI\TIGXIH LIEPXL I\TIRWIW ERH VIHYGI ZYPRIVEFMPMX] ½RERGMRKERHEHZMGIJSVGPIERIRIVK]WSPYXMSRWXSEHHVIWW Yours sincerely daily lighting and cooking needs; access to USD loans to save on transaction and conversion costs. Socio-economic services have also been further developed with a community based approach, bringing training to the doorsteps of our partners. More socio- IGSRSQMG SJ½GIVW ERH MRXIVEGXMZI XVEMRMRK QSHYPIW have boosted the outreach of these services, as well as HÉLÈNE

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