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ACLEDA Bank FY'17 net income drops amid higher provisions

ACLEDA Bank Plc reported a year-over-year decline in net income for the full year ended Dec. 31, 2017 on the back of higher provisions.

The bank said March 27 that profit attributable to equity holders fell to 370.13 billion Cambodian riel from 512.24 billion riel in the year-ago period.

Net interest income for 2017 slipped to 1.113 trillion riel from 1.160 trillion riel while net fee commission income rose to 226.05 billion riel from 194.29 billion riel.

The bank's net provision for loan losses and off-balance sheet commitments surged year over year to 145.59 billion riel from 55.13 billion riel in 2016.

As of March 27, US$1 was equivalent to 3,992.40 Cambodian riel.