HKL’s Customers to Be “Worry Free” about their Future Loan Repayment thru Credit Life Insurance by SVL

Phnom Penh 24th May 2018: Hattha Kaksekar Limited (HKL), the leading microfinance institution with more than 20 years of experience in providing a diverse range of financial services in Cambodia, partnered with Sovannaphum Life Assurance Plc. (SVL) to provide credit life insurance for all customers who have been using HKL’s loan products(s). 

It is noted that recently Ministry of Economy and Finance (MEF) and National Bank of Cambodia (NBC) have officially authorized HKL in partnership with SVL to introduce credit life insurance service for HKL’s customers.

Oknha Hout Ieng Tong, CEO of HKL said that the introduction of the credit life insurance was showing that HKL had been taking care of and providing a lot of benefit to customer in case of inability to earn income to permanent disability and death . More importantly, customer and their family will be “worry-free” about selling their properties for repaying loan anymore and they could be given a package of money from insurance company for supporting their daily living. Taking that opportunity, he expressed his sincere thanks to NBC & MEF authorizing HKL and SVL to be business party to offer this product to customer and Cambodian people.

Tan Jiak Hiang, CEO of SVL, said “as one of the local leading life assurance companies, we are really proud of being a partner with HKL to distribute credit life insurance and other life insurance services to HKL’s clients. We are strongly committed to providing products and services with benefits offered and quality for HKL’s clients. We are so glad to see HKL’s clients benefiting the credit life insurance and no longer worrying about their loan repayment. We are here for you; we are here for Cambodia.”

About Hattha Kaksekar Limited:  
HKL is the third largest microfinance institution in Cambodia, licensed by National Bank of Cambodian (Central Bank). Having been operating for more than 20 year in the market, HKL is one of the leading MDI providing diversified financial services to micro and small business, especially loan, deposit through more than 170 branches nationwide. As of April 2018, HKL deposit balance stood at USD 399 million  with 226,425 depositors, while credit portfolio accounted for USD 638 million with 130,974 borrowers. HKL is a wholly-owned subsidiary company of the fifth largest bank in Thailand, Bank of Ayudhya (Krungsri), and a member of Mitsubishi UFJ Financial Group (MUFG), Japan’s largest banking group and largest and most diversified financial groups in the world.

About Sovannaphum Life Assurance Plc.:  
Sovannaphum Life Assurance Plc. (SVL) is a joint venture Company between Canadia Investment Holding and Muang Thai Life Assurance PLC. from Thailand. With strong support from both shareholders, plus the use of “customer centricity” to understand the behavior of the Cambodian customers, SVL will be able to develop the right products and services to fulfill the specific need of Cambodian customers.

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Achievement YTD January 31, 2020
Number of Office 177
Headquarter 1
Total Number of Staff 4,568
Male 3,321
Female 1,247
Loan Outstanding USD 1,087 M
Number of Active Borrower 172,169
Deposit USD 591 M
Active Customer 262,498
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