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201Chairman’s Review – Business Operations ReviewInternational OperationsCampu <strong>Bank</strong>’s good overall performance was recognisedduring the year with the receipt of two awards, namely“Domestic Retail <strong>Bank</strong> of the Year 2012 – Cambodia” byAsian <strong>Bank</strong>ing & Finance for its outstanding achievementand “Straight-Through-Processing USD 2011 ExcellenceAward” by Deutsche <strong>Bank</strong> for operational excellence.To further enhance profitability, Campu <strong>Bank</strong> stepped upefforts to grow fee-based in<strong>com</strong>e from its card, tradefinance and remittance businesses by introducing newproducts and services. In the consumer financing segment,Campu <strong>Bank</strong> launched Platinum Visa and MastercardPlatinum to serve the more discerning needs of high networth customers. In May 2012, Campu <strong>Bank</strong> also launchedthe Gold Investment Account, which allows individualcustomers to invest in gold, making Campu <strong>Bank</strong> the firstbank in Cambodia to launch such a product.As at the end of 2012, Campu <strong>Bank</strong> has an extensivebranch network of 24 branches and has been grantedapproval by the National <strong>Bank</strong> of Cambodia to open fourmore branches in the next one year which will furtherexpand Campu <strong>Bank</strong>’s customer reach in Cambodia.CLIP which began operations in 2007 remains a majorplayer in the Cambodian insurance sector, with market shareof 16.6% as at the end of September 2012. CLIP recordedsatisfactory results in 2012, with an increase of 29.6% and6.1% respectively in gross premium and pre-tax profits toUSD5.5 million and USD0.9 million respectively.Campu Securities Plc <strong>com</strong>menced its securities underwriting,dealing and trading operations when the CambodianSecurities Exchange started operations on 18 April 2012.Going forward, Campu Securities is expected to contributepositively to the earnings of the Campu <strong>Bank</strong> Group whenthe momentum for new listings of <strong>com</strong>panies and sharetrading picks up.VIETNAMDuring the year, Vietnam faced significant macro-economicuncertainties. Despite the difficult economic environment inVietnam, the <strong>Public</strong> <strong>Bank</strong> Group’s joint venture bank inVietnam, VID <strong>Public</strong> <strong>Bank</strong>’s (“VPB”) pre-tax profits grew byUSD1.9 million or 41.6% to USD6.6 million in 2012.Customer deposits also increased by USD6.8 million or3.1% to USD225.1 million as at the end of 2012.Total gross loans grew by USD14.3 million or 6.3% toUSD242.3 million as at the end of 2012. Currently, VPB hasseven branches in Vietnam.LAOSAs a result of robust economic growth in Laos, <strong>Public</strong><strong>Bank</strong>’s Laos branches achieved double-digit growth in totalloans and customer deposits of 26.3% and 18.5%respectively to USD105.3 million and USD102.5 millionrespectively as at the end of 2012. Pre-tax profits of <strong>Public</strong><strong>Bank</strong>’s Laos branches also grew impressively by 31.7% toUSD8.1 million in 2012. In order to capitalise on thefavourable economic conditions and growth opportunities inthe country, <strong>Public</strong> <strong>Bank</strong> opened another branch in Pakse,Champasak Province in December 2012, bringing the totalnumber of branches in Laos to four.SRI LANKASri Lanka’s economy continued to show signs of improvementduring the year. Buoyed by the stronger economy andhigher investors’ confidence in the country, total loans grewby 24.9% to LKR2,676.6 million as at the end of 2012whilst pre-tax profits increased by LKR77.2 million or 46.2%to LKR244.2 million in 2012. To further penetrate the marketin this developing country, an extension office was openedin Nawala, Colombo in December 2012.
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