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ANNUAL REPORTS
Annual Report 2017
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BACKGROUND
LOLC (Cambodia) Plc. (“LOLC”) is a rapidly growing, regulated microfinance institution with a focus on serving entrepreneurs and families at the base of the socio-economic pyramid with the economic opportunities to transform the quality of their lives.
LOLC is currently the 4th largest in Cambodia by number of borrowers and GLP. Due to its commitment to responsibly serving clients, focus on customer service, innovative products, and fair and transparent pricing, LOLC has become a trusted provider of financial services for Cambodians.
Going forward, LOLC will continue its expansion in rural and urban areas and develop new, innovative financial products and services for its clients. With an experienced management team, strong governance, and social commitment, LOLC is well-positioned to further broaden its outreach and impact across Cambodia.
LOLC was established by Catholic Relief Services (“CRS”) in 1994 to enable rural women to gain access to financial services that they could use to finance their microenterprises. In 1999, LOLC was the first regulated microfinance institution in Cambodia, known as Thaneakea Phum (Cambodia), Ltd. In January 2010, Developing World Markets (“DWM”), a US-based, socially responsible emerging markets fund manager acquired a majority equity stake in TPC from CRS. With over 15 years of experience and approximately $760 million in assets under management, DWM's oversight and high standards have enabled TPC to greatly improve its operations and procedures.
As TPC grew very quickly, LOLC Micro Investment Ltd. (“LOMI”) became interested in investing in TPC, and acquired a majority equity stake in TPC. In 2015, Thaneakea Phum (Cambodia), Ltd. rebrands its name to LOLC (Cambodia) Plc. and got deposit taking license from the National Bank of Cambodia in the same year.In 2018, LOLC Private Limited, a business incorporated in Singapore, acquired the majority stake in LOLC (Cambodia) Plc. from DWM and LOMI. At present, LOLC Private Limited owns 96.97% of total shares, and the remainder is owned by LOLC staff through an Employee Stock Ownership Plan (TPC-ESOP).
Vision Statement
Families at the base of the socio-economic pyramid are empowered to live their lives with dignity, social and economic security and justice.
Mission Statement
LOLC (Cambodia) Plc. (“LOLC”) is a microfinance institution with a social vision and a business orientation that provides entrepreneurs and families at the base of the socio-economic pyramid with the economic opportunities to transform the quality of their lives and their communities through the provision of effective and sustainable client empowering financial services.
Head Office
#666B, Street 271, Sangkat Phsar Daeum Thkov, Khan Chamkar Mon, Phnom Penh, Cambodia
Tel: (+855) 23 991 991
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