National Bank of Cambodia

ForewordIn 2011, many developed and emerging economies wereaffected by a series of crises, including severe public debtcrisis in European regions, high unemployment rate, and lowpublic confidence, while recovery from natural disaster is still in progress.According to the International Monetary Fund (IMF), the global economicgrowth in 2011 is 4% , a drop of 1.1% as compared to 2010.Cambodia managed to make a satisfactory progress in its development andstabilized its macroeconomic condition despite the impacts of the globaleconomic crises and, especially, flood that affected some parts of the country in2011. With the National Bank of Cambodia’s efforts in improving access tofinance, banking intermediation showed noticeable improvement as reflected inthe increasing numbers of banks and their branch networks over the last year.The performance of banking institutions was satisfactory in 2011. The capital baseof banking sector was strengthened through the injection of paid-up capital frombanks, while liquidity was maintained over the regulatory requirement. Inaddition, assets and profitability of banking institutions displayed a trend ofgradual increment since 2009. Furthermore, micro-finance institutions (MFIs)continue to play significant roles in improving access to finance in the rural areaand contribute to the economic growth. In 2011, total lending by MFIs increasedby approximately 50%, while saving in microfinance deposit taking institutions(MDIs) tripled compared to 2010.As Cambodian financial sector is still at its early stage of development, there issignificant room for improvement both at the industry level as well as at theregulatory and supervisory level. The Royal Government of Cambodia under theleadership of Samdech Akka Moha Senapadei Techo Hun Sen, developed in theyear 2000, Cambodia’s first financial sector blueprint to serve as a 10-years planand guidance for important infrastructure, capacity and legal and regulatorydevelopment in the financial sector in the country. Since then, the Blueprint hasbeen updated to reflect the changes in domestic as well as global financialsystem landscape. In 2011, the National Bank of Cambodia, Ministry of Economicand Finance, and other relevant ministries and authorities reviewed anddiscussed the Financial Sector Development plan 2011-2020. The updatedblueprint is expected to be launched in 2012.-i-

In order to achieve efficiency in its supervisory and regulatory function, theNational Bank of Cambodia restructured and upgraded the Banking SupervisionDepartment into a Banking Supervision General Directorate which consists of 4departments: Off-site Supervision, On-site Supervision, Legal and LicensingDepartment. The total staff has also increased from 64 in 2009 to 82 in 2011including both new recruitment and internal transfer. All staff have receivedregular trainings from international experts in Cambodia and oversea.In line with international best practices and to keep up with the fast changingfinancial environment, the National Bank of Cambodia has been reviewing theexisting prudential regulations and issuing new ones to ensure that banking andfinancial institutions are operating in a safe and sound manner. The adoption ofthese regulations is expected to strengthen the development of banking andfinancial institutions as Cambodia is progressively integrating into the regionaland world market.In collaboration with International Financial Corporation, the National Bank ofCambodia, Association of Banks in Cambodia (ABC) and CambodiaMicrofinance Association (CMA) established a private credit bureau company(CBC). The establishment of this company is an important milestone in our effortto promote the quality of lending, transparency, and, especially, prevent creditrisk resulting from excessive lending to one borrower by different institutions.In conclusion, the performance and accomplishment of banking institutions in2011 has contributed to the development of Cambodia’s financial system as wellas economic growth. However new challenges continue to emerge and willrequire close monitoring from supervisors. As such the National Bank ofCambodia will continue its supervisory and regulatory function in a prudentmanner incorporating risk-based and forward looking approach. As thesefunctions required skills and experiences, building the capacity of our supervisorscontinues to be our top priority. To this end, the National Bank of Cambodiaactively engages in bilateral cooperation with various supervisory authorities toshare information and exchange knowledge. Despite the constraints andchallenges, we remain poised and resolute in our commitment to ensure a safeand vibrant banking system.Phnom Penh, April 4, 2012-ii-CHEA CHANTOGovernorNational Bank of Cambodia

CONTENTS1. Structure of the Banking System ........................................................................................ 12. Banking Sector Performance ............................................................................................. 13. Operation in the Microfinance Sector............................................................................... 24. Development in the Banking Supervision ......................................................................... 34.1. Regulatory Development ....................................................................................... 34.2. Supervisory Development ...................................................................................... 44.3. Financial Products and Services Development .................................................... 44.4. Infrastructure Development.................................................................................... 45. Risks and Vulnerabilities................................................................................................. 55.1. Credit Risk ................................................................................................................ 55.2. Liquidity Risk ............................................................................................................ 65.3. Operational Risk ...................................................................................................... 75.4. Profitability ............................................................................................................... 75.5. Capital ..................................................................................................................... 86. Issues and Challenges ................................................................................................... 87. Conclusion ...................................................................................................................... 9Appendix 1: Data of Banks and Microfinance Institutions 2011........................................ 10Appendix 2: Interest Rates Trends ....................................................................................... 47Appendix 3: Banking System in Cambodia ....................................................................... 49-iii-

1. Structure of the Banking SystemBy the end of 2011, the banking sector in Cambodia consisted of 31 commercial banksof which 22 local incorporated banks and 9 foreign bank branches, 7 specialized banksincluding one state owned bank, 32 licensed microfinance institutions where 7 eligible tocollect customer deposits, and 29 registered microfinance institutions. Under the bankinglaw, banking institutions in Cambodia are subject to the same regulatory and prudentialrequirements irrespective of their legal status as local incorporated banks or foreign bankbranches.2. Banking Sector PerformanceBanking sector grew significantly in 2011. Total assets increased by 24.39% from theprevious year, at the same time credit grew by 33%, or USD 1,085 million. This creditgrowth was made possible as a result of deposit growth of 20% or USD 880 million andgrowth in the capital base of 9.85% or USD 112 million. The level of intermediationincreased from 75% in 2010 to 83% in 2011. Total assets to gross domestic products (GDP)reached 63% in 2011 from 56% in 2010. Total credits and total deposits to GDP bothincreased to 34% and 41% respectively, from 28% and 37% previous year.Assets to GDP (Banks)In Million of USD14,00012,00010,0008,0006,0004,0002,000-6,2934,6565,31521% 22% 22%955 1,16922% 16% 1,35412%7,27526% 40%1,90277%10,337 10,3358,63148%39% 40%4,9964,1653,35924%20%11,34456%6,38728%12,67663%7,94524.39%90%80%70%60%50%40%30%20%10%0%2003 2004 2005 2006 2007 2008 2009 2010 2011Total assets GDP Growth of total assets Total assets to GDPIn term of outreach, performance in the banking sector presented substantial progress.Though the number of borrowers increased slightly by only 3% to 294,533 accounts, thenumber of depositors jumped by 19% reaching 1,266,412 accounts by the year end 2011.The number of branches network and service posts for banks increased by 7.1% in 2011to 421 offices in the country wide. Other platforms of modern banking services such asAutomate Teller Machine (ATM), Debit Card, and Credit Card also expanded rapidly.The number of ATM terminals rose by 17%, totaling of 588 terminals. New credit cards anddebit cards issued in 2011 increased by 53% to 21,364 cards, and 29% to 761,876 cardsrespectively compared to 2010. As of year end 2011, total number of money changerscountry wide was 1,296 of which 47 licensed money changers and 1,249 registeredcounters.- 1 -

Number of Debit and Credit Cards (Banks)Number of Depositors and Borrowers (Banks)800,000700,000600,000500,000400,000300,000200,000100,000-5,279 4,95336,013150,5469,146322,33910,576453,47114,003592,31721,364761,87625,00020,00015,00010,0005,000-Thousands1,4001,2001,000800600400200-149124286206145 1654561977002301,2661,067928263 286 2952006 2007 2008 2009 2010 20112004 2005 2006 2007 2008 2009 2010 2011Number of Debit cardNumber of Credit cardNumber of DepositorsNumber of Borrowers3. Operation in the Microfinance SectorCambodian Microfinance Sector continues to grow rapidly in term of number, size, andoperation, providing financial services to Small and Medium Enterprises as well as topeople in the remote area who do not have access to financial services fromcommercial banks. As of year end 2011, there are 32 licensed microfinance institutions,of which 7 are microfinance deposit taking institutions. This development is shownthrough the increase of total assets of the whole sector of 47.97% from KHR 2,051,484million (USD 506.16 million) at the end of 2010 to KHR 3,025,083 million (USD 748.97 million)at the end of 2011. Microfinance sector not only contributes to poverty reduction of thepoor in rural areas through microfinance services, but also provides job opportunities tomany Cambodian graduate students. As of December 2011 the total number of staffemployed in the microfinance sector was 9,744, of which 2,617 were women.Growth of Total Assets (MFIs)Share of Paid-up Capital (MFIs)Million of KHR3,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,00073%726,35887%1,524,9831,361,44912%35%2,051,48447%3,025,083100%90%80%70%60%50%40%30%20%10%120%100%80%60%40%20%27% 26% 23% 23% 23%73% 74% 77% 77% 77%-0%0%2007 2008 2009 2010 20112007 2008 2009 2010 2011Total AssetsAsset GrowthForeign ShareCambodian Share- 2 -

With favorable business, regulatory and policy environment, the microfinance sector hasgained significant confidence from the public including both debtors and creditors,particularly from the poor in rural areas and foreign investors. As of 31 December 2011, 23%and 77% of total registered capital is owned by Cambodian and foreign shareholdersrespectively.Total loans increased by 50% from KHR 1,724,841 million (USD 426 million) at the end of2010 to KHR 2,591,263 million (USD 641.53 million) at the end of 2011. The number ofborrowers rose by 17% from 978,077 to 1,141,913. Aggregate amount of deposits, on theother hand, surged by 180% from KHR 164,014 million (USD 41 million) to KHR 459,473million (USD 114 million) in the same period.Loans and Deposits (MFIs)Loans and Non-Performing Loans (MFIs)3,000,0002.80%3%2,591,2632,500,0002,591,2633%In Million KHR1,724,8411,244,5971,108,225617,907459,473164,01421,211 22,082 39,627Million of KHR2,000,0001,500,0001,000,000500,000-616,953 1,130,216 1,244,597 1,724,8410.19%0.42%1.18%2%2%1%1%0.22%0%2007 2008 2009 2010 20112007 2008 2009 2010 2011LoansDepositsLoansNPL RatiosThe average delinquency ratio is 0.22%, decreasing from 1.18% in 2010 despite thesevere flooding in the country in the third quarter. In compliance with the regulations ofthe National Bank of Cambodia, the average solvency ratio is 21.25 % and the liquidityratio is 398.66%. MFIs’ profitability continues to increase. In 2011, total net profit isKHR 110,117 million (USD 27.26 million), a 63% increased from the end of 2010. Return onasset and return on equity ratios were 3.64% and 15.10% respectively.4. Development in the Banking Supervision4.1 Regulatory DevelopmentThe National Bank of Cambodia revised many of its regulations and circulars to achievea more effective supervision and be in line with recent developments in financial sector.During 2011, the National Bank of Cambodia issued a circular related to net worthcalculation, and 5 other regulations, including Prakas on risk based and forward lookingsupervision, Prakas on credit information sharing system, Prakas on transparency ingranting credit facilities of banks and financial institutions, Prakas on financial leasingbusiness, and Prakas on licensing of financial lease companies.- 3 -

4.2 Supervisory DevelopmentAs the supervisory authority, the National Bank of Cambodia, regularly conducts off-siteand on-site examination on banking and financial institutions to protect depositors’money, maintain safety and soundness, and promote fair competition in the bankingsector. The supervisory approach is progressively moving from rule-based supervision torisk-based and forward-looking supervision. To enhance data and information flow, theNational Bank of Cambodia has also revised and updated supervisory reporting systemfor both banking institutions and microfinance institutions. This new reporting system is anonline based submission that would provide timely and accurate information on thecondition of the banking and financial institutions. It also helps to reduce burden andcost related to reporting submission by banking and financial institutions and alsoexemplify the development in Cambodia’s banking sector in response to rapidtechnological advancement and the fast changing environment of the industry.4.3 Financial Products and Services DevelopmentAs the banking sector’s growth continues to accelerate and increase in sophistication,new banking products and services also develop. Leasing and hire purchase productshave been increasingly prevalently used mainly for consumer goods financing. Bothbank centric and mobile banking centric models are operating Cambodia. Regardlessthe models are forms mobile banking business are strictly and subjected to theregulation and supervision of the National Bank of Cambodia to ensure the protection ofcustomers.4.4 Infrastructure DevelopmentThe National Bank of Cambodia has recognizes the importance of enhancing theexisting infrastructure in the banking sector in order to further facilitate the role ofbanking sector in promoting economic growth. As a result, the National Bank ofCambodia has undertaken extensive work to upgrade its national payment system,creating regulatory platform for an interbank market and has supported the creation ofa private-owned credit bureau expected to be launched early in 2012 to enhanceintermediary function and risk management function of regulated entities. This creditbureau is expected to facilitate credit flow in the economy by reducing informationasymmetry between banking institutions and their customers.Strengthening accounting practices within banking institutions is also recognized as animportant milestone for banking sector development and for the banking sectorintegration in the region. Cambodia banks are expected to implement the InternationalFinancial Reporting Standard (IFRS) by 2016. The roadmap toward full adoption of theIFRS for banking institutions is in the study process. The roadmap would provide areas forimprovement of current practices for both authority and market players. This will lead tochanges of accounting policy, information system, personals/skills set, and prudentialregulations. Enhancing cooperation among financial regulators within the country is alsorecognized as a crucial step to ensure sustainable development. As demonstrated by- 4 -

the global financial, there is a need for closer coordination between on site supervisorsand off site regulators in order to avoid regulatory arbitrage.5. Risks and Vulnerabilities5.1 Credit RiskDespite relatively high credit growth as of year-end 2011 of 33.5% and the flood disasteraffecting agriculture sector, nonperforming loans in the banking sector declined to2.43% from 3.05% in 2010. Net nonperforming loans decreased from 1.37% to only 1.09%,while total provisioning reserves remained stable at 55% of the nonperforming assets.Nonperforming Loans Ratio12%10%9.64%9.87%8%7.26%6%4%2%0%1.60%4.84%3.44% 3.68%3.05%4.07%0.83%2.43%1.61% 2.52%1.72% 1.37% 1.09%2004 2005 2006 2007 2008 2009 2010 2011NPL/LoansNPL Net-off Provision/LoansRelated party lending is reported to be within prudential limit of 10.7% of net worth. Totallarge exposure loans in proportion of the net worth surged to 97% from 80% in 2010.Fixed Assets Ratio, Real Estate to Net Worth, and Related Lending Ratio25.0%18.7%16.8%22.7%20.0%20.0%15.0%15.0%18.0%11.9%19.0%15.9%17.9%17.0%17.0%18.6%15.4%16.0% 12.0%10.7%15.0%10.0%10.0%7.6%1.2% 1.2% 1.7% 1.3% 1.8%9.8%5.0%5.0%1.4%0.0%0.0%2004 2005 2006 2007 2008 2009 2010 2011Fixed Assets Ratio Loans to Real Estate to Net Worth Related Lending-5.0%- 5 -

Retail and wholesale sector captured one-third of the total portfolios. Manufacturing,nonfinancial services, and agriculture sector each absorbed around 9% of the portfolios.Tourism and construction accumulated the same shares of 7.4%. Though all indicatorsprovide satisfactory outlook on credits performance, vigilance is exercised to closelymonitor credit’s growth and concentrated in the real estate sector.Credit by Economic SectorsMining and QuarryingCredit CardsRental and Operational Leasing ActivitiesOther LendingUtilitiesFinancial InstitutionsTransport and StorageOwner-Occupied Housing onlyInformation Media and TelecommunicationsReal Estate ActivitiesAgriculture, Forestry and FishingPersonal LendingConstructionOther Non-Financial ServicesManufacturingHotels and RestaurantsWholesale TradeRetail Trade0% 5% 10% 15% 20%2011 20105.2 Liquidity RiskBank liquid assets remained relatively stable while stress coverage within one monthperiod increased. Off-balance sheet commitments doubled from previous year.Development of money market and capital market is expected to provide more roomfor liquidity management in banking institutions.Liquidity & Uses of Funds Ratio160%140%120%100%80%60%40%20%0%117% 118%123% 121% 120%108% 104% 136%91%91%108% 81%83%104% 100% 100%2004 2005 2006 2007 2008 2009 2010 2011Liquidity RatioUses of Funds Ratio- 6 -

Maturity Mismatch5,0004,0003,0002,0001,000-(1,000)(2,000)(3,000)(4,000)Maturity GapCumulative GapUp to 1 M >1 M up to 3Ms >3 Ms up to 6 Ms >6 Ms up to 12 Ms>1 Y up to 2 Ys >2 Ys up to 5 Ys >5 Ys up to 10 Ys >10 YsInterest Rate Trend20%18%16%14%12%10%8%6%4%2%0%18.8%18.2%17.3%16.2% 16.7%17.2%16.0% 16.4%15.8%15.4%6.3%4.8% 4.9%4.2% 4.0% 3.6% 4.0%5.3%4.4% 4.3%1.6% 1.4%0.9%1.1% 1.0% 1.0% 1.1% 0.7% 0.6% 0.6%2002 2003 2004 2005 2006 2007 2008 2009 2010 2011Saving Deposits Fixed Deposits Loans5.3 Operational RiskNumbers of prudential measures have been adopted to address the issue of operationalrisk including the regulation on governance, fit and proper test, and internal control.Progress to date proved satisfactory in term of risk management including operationalrisk. Despite such progress, additional prudential measures especially capital charge foroperational risk is under consideration for adoption in response to the growing scopeand scale of operation of banking institutions.5.4 ProfitabilityProfitability in the banking sector showed significant improvement compared to previousyear’s performance. Average return on assets increased to 1.89% while average returnon equity was 9.02% by the end of 2011.- 7 -

Banks – Return on Assets and Return on Equity14.18%16.58%13.11%0.58%1.73%1.06%3.92%0.93%3.83%1.20%5.73%1.76%7.87%2.84%2.83%2.88%1.25%5.63%1.44%6.63%1.89%9.02%2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 201118%16%14%12%10%8%6%4%2%0%Return on AssetsReturn on Equity5.5 CapitalSolvency ratio dropped from 31.38% by year end 2010 to 26.23% by the end of 2011 butstill remained above the prudential limit and the early-warning threshold. This decrease ismainly due to rapid credit expansion thus an increase in risk weighted asset. Tier I Capitalis 24.96% showing a strong stable capital base of banks in 2011.Tier I CAR and Tier I + Tier II CAR34.50%31.89%26.46%23.57%27.64%32.28% 31.38%26.23%32.01%29.56%25.25%22.81%26.03%30.85%30.80%24.96%2004 2005 2006 2007 2008 2009 2010 2011Tier I CARTier I + Tier II CAR6. Issues and ChallengesDespite significant progresses achieved, numerous challenges remain for thedevelopment and stability within the banking sector. Currently, the National Bank ofCambodia conducts review on existing regulations to minimize possibility of regulatoryarbitrage and, at the same time, assesses on the need for introducing additionalprudential regulations. Key regulations related to credit and liquidity risk need to bereviewed whereas regulations related to market risk and operational risk need to be putin place.- 8 -

Capacity building continues to be the National Bank of Cambodia top priority. TheNational Bank of Cambodia recognizes the need to have sufficient human resources inplace and the time needed to build the right skills and expertise. Institutionalized thecapacity building program, in this context, is a priority in order to improve and optimizethe quality and qualification of our human resources.7. ConclusionVulnerabilities within the banking sector remains at manageable level despite someconcerns on credit and liquidity risk. Banking sector’s performance returns back on trackwith all signs indicating a positive outlook for both the speed and depth of growths.Intermediary function keeps expanding rapidly, resulting in greater depth and outreachof the financial system.- 9 -

Appendix 1Data of Banks and Microfinance Institutions 2011Note: All figures are unaudited and as reported by Banks and MFIs- 10 -

Number of Offices of Cambodian banksAs of December 31, 2011Table 12011 2010TotalPhnomPhnomPenh 1 Provincial TotalPenh 1 ProvincialCommercial Banks1 Acleda Bank Plc. 3 234 14 220 234 14 2202 Canadia Bank Plc. 33 13 20 27 13 143 Cambodian Public Bank 23 14 9 21 13 84 ANZ Royal Bank (Cambodia) Ltd. 19 11 8 19 11 85 Singapore Banking Corporation 3 16 10 6 15 10 56 May Bank, Phnom Penh Branch* 11 7 4 9 6 37 Advanced Bank of Asia Ltd. 10 7 3 8 6 28 OSK Indochina Bank Ltd 9 5 4 9 5 49 CIMB Bank 7 5 2 1 1 -10 Cambodia Mekong Bank Public Ltd. 6 4 2 6 2 411 Bank for Investment and Development of Cambodia PLc 2 6 2 4 4 2 212 Union Commercial Bank Plc. 5 2 3 5 2 313 Cambodian Commercial Bank Ltd. 4 1 3 4 1 314 Foreign Trade Bank of Cambodia 4 3 1 4 3 115 Vattanac Bank Ltd. 4 3 1 3 2 116 Saigon Thuong Tin (Cambodia) Plc 4 4 - 2 2 -17 First Commercial Bank, Phnom Penh Branch* 3 3 - 3 3 -18 HwangDBS Commercial Bank Plc. 3 3 - 3 3 -19 Phnom Penh Commercial Bank 3 3 - 2 2 -20 Krung Thai Bank Public Co. Ltd., P.P. Branch* 2 1 1 2 1 121 Agri Bank Cambodia Branch* 1 1 - 1 1 -22 Bank of India Phnom Penh Branch* 1 1 - 1 1 -23 Booyong Khmer Bank 1 1 - 1 1 -24 Cambodia Asia Bank Ltd. 1 1 - 1 1 -25 Kookmin Bank Cambodia Plc 1 1 - 1 1 -26 Maruhan Japan Bank Plc 1 1 - 1 1 -27 Shinhan Khmer Bank 1 1 - 1 1 -28 Bank of China Phnom Penh Branch* 1 1 - - - -Sub-total 414 123 291 388 109 279Specialized Banks29 First Investment Specialized Bank 1 1 - 1 1 -30 Anco Specialized Bank 1 1 - 1 1 -31 Tomato Specialized Bank 1 1 - 1 1 -32 CAMKO Specialized Bank Ltd. 1 1 - 1 1 -33 Rural Development Bank 1 1 - 1 1 -34 Angkor Capital Specialized Bank 1 1 - 1 1 -35 PHSME Specialized Bank 1 1 - 1 1 -Sub-total 7 7 - 7 7 -Total 421 130 291 395 116 279* Foreign branches1 Including head office2 Incuding Branches in Vietnam3 Including Sevices Post- Excluded Mega Bank*, ICBC*, MB*-11-

Number of staffAs of December 31, 2011Table 22011 2010% Change2011 over 2010Commercial Banks1 ACLEDA Acleda Bank Plc. 7,038 6,982 0.8%2 CNB Canadia Bank Plc. 1,191 1,041 14%3 ANZR ANZ Royal Bank (Cambodia) Ltd. 536 577 -7%4 CPB Cambodian Public Bank 479 449 7%5 CAB Cambodia Asia Bank Ltd. 281 86 227%6 ABA Advanced Bank of Asia Ltd. 243 196 24%7 BIDC Bank for Investment and Development of Cambodia Plc 222 132 68%8 SBC Singapore Banking Corporation 214 223 -4%9 VB Vattanac Bank Ltd. 207 165 25%10 UCB Union Commercial Bank Plc. 176 170 4%11 MYB May Bank, Phnom Penh Branch* 164 120 37%12 OSK OSK Indochina Bank Ltd 154 153 1%13 FTB Foreign Trade Bank of Cambodia 136 121 12%14 CMB Cambodia Mekong Bank Public Ltd. 129 125 3%15 Sacomb Saigon Thuong Tin (Cambodia) Plc 110 64 72%16 CIMB CIMB Bank 95 39 144%17 CCB Cambodian Commercial Bank Ltd. 78 77 1%18 PPCB Phnom Penh Commercial Bank 67 40 68%19 MJB Maruhan Japan Bank Plc 58 55 5%20 FCB First Commercial Bank, Phnom Penh Branch* 53 49 8%21 BOC Bank of China Phnom Penh Branch* 52 - 0%22 HDBS Hwang DBS Commercial Bank Plc* 48 37 30%23 KBC Kookmin Bank Cambodia Plc 28 27 4%24 SKB Shinhan Khmer Bank 25 24 4%25 AGRI Agri Bank Cambodia Branch* 24 23 4%26 KTB Krung Thai Bank Public Co. Ltd., P.P. Branch* 18 18 0%27 BKB Booyong Khmer Bank 12 15 -20%28 BIPP Bank of India Phnom Penh Branch* 9 9 0%11,847 11,017 8%Specialized Banks29 FISB First Investment Specialized Bank 47 49 -4%30 RDB Rural Development Bank 46 48 -4%31 PHSME PHSME Specialized Bank 45 48 -6%32 ACSB Angkor Capital Specialized Bank 19 20 -5%33 ASB Anco Specialized Bank 18 15 20%34 TSB Tomato Specialized Bank 15 14 7%35 CKSB CAMKO Specialized Bank Ltd. 14 18 -22%204 212 -4%Total 12,051 11,229 7%* Foreign branches- Excluded Mega Bank*, ICBC*, MB*1,2001,0008001,191Total Employees of all banks 1as of December 2011600536479400200281243222214207176164154136129110957867585352484746452825241918181514129-1Excluding total employees of ACLEDA Bank Plc (7,038)-12-

Table 3COMPARISON OF TOTAL ASSETSAs of December 31, 2011(millions of KHR)2011 2010 Growth Rate (%)Commercial BanksShare Share 2011 over 20101 Acleda Bank Plc. 6,063,681 18.9% 4,745,962 18.3% 27.8%2 Canadia Bank Plc. 5,279,836 16.5% 4,351,832 16.8% 21.3%3 Cambodian Public Bank 4,093,420 12.8% 4,087,116 15.8% 0.2%4 ANZ Royal Bank (Cambodia) Ltd. 2,840,347 8.9% 2,462,684 9.5% 15.3%5 Bank for Investment and Development of Cambodia Plc 1,820,359 5.7% 1,050,562 4.1% 73.3%6 Foreign Trade Bank of Cambodia 1,654,958 5.2% 1,355,408 5.2% 22.1%7 May Bank, Phnom Penh Branch* 1,290,251 4.0% 949,967 3.7% 35.8%8 Union Commercial Bank Plc. 1,025,197 3.2% 822,285 3.2% 24.7%9 Bank of China Phnom Penh Branch* 833,832 2.6% - 0.0% 0.0%10 Advanced Bank of Asia Ltd. 817,998 2.5% 616,791 2.4% 32.6%11 Vattanac Bank Ltd. 763,629 2.4% 828,402 3.2% -7.8%12 First Commercial Bank, Phnom Penh Branch* 578,187 1.8% 415,759 1.6% 39.1%13 Maruhan Japan Bank Plc 501,262 1.6% 354,099 1.4% 41.6%14 Cambodian Commercial Bank Ltd. 474,833 1.5% 426,485 1.6% 11.3%15 Phnom Penh Commercial Bank 413,934 1.3% 237,535 0.9% 74.3%16 OSK Indochina Bank Ltd 413,896 1.3% 255,773 1.0% 61.8%17 CIMB Bank 363,255 1.1% 167,575 0.6% 116.8%18 Saigon Thuong Tin (Cambodia) Plc 353,082 1.1% 458,965 1.8% -23.1%19 Agri Bank Cambodia Branch* 274,034 0.9% 171,250 0.7% 60.0%20 Cambodia Asia Bank Ltd. 271,189 0.8% 233,705 0.9% 16.0%21 Singapore Banking Corporation 256,538 0.8% 225,497 0.9% 13.8%22 Krung Thai Bank Public Co. Ltd., P.P. Branch* 229,641 0.7% 212,170 0.8% 8.2%23 Shinhan Khmer Bank 198,916 0.6% 186,445 0.7% 6.7%24 Hwang DBS Commercial Bank Plc 198,540 0.6% 201,562 0.8% -1.5%25 Kookmin Bank Cambodia Plc 187,653 0.6% 142,801 0.6% 31.4%26 Cambodia Mekong Bank Public Ltd. 183,550 0.6% 172,594 0.7% 6.3%27 Booyong Khmer Bank 152,422 0.5% 148,690 0.6% 2.5%28 Bank of India Phnom Penh Branch* 67,478 0.2% 55,778 0.2% 21.0%Sub-total 31,601,920 98.5% 25,337,692 97.9% 24.7%Specialized Banks29 Rural Development Bank 209,828 0.7% 164,650 0.6% 27.4%30 First Investment Specialized Bank 61,268 0.2% 68,595 0.3% -10.7%31 CAMKO Specialized Bank Ltd. 55,480 0.2% 114,385 0.4% -51.5%32 Angkor Capital Specialized Bank 54,824 0.2% 94,969 0.4% -42.3%33 Anco Specialized Bank 38,350 0.1% 34,851 0.1% 10.0%34 PHSME Specialized Bank 34,659 0.1% 32,752 0.1% 5.8%35 Tomato Specialized Bank 34,601 0.1% 34,214 0.1% 1.1%Sub-total 489,010 1.5% 544,414 2.1% -10.2%Total 32,090,929 100% 25,882,106 100% 24.0%* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*Growth of Total AssetsIn Billion of KHR35,000.0030,000.0025,000.0020,000.0015,000.0010,000.0039%7,71674%13,44516,99626%32,09125,88820,83023% 24% 24%80%70%60%50%40%30%20%5,000.0010%-2006 2007 2008 2009 2010 2011Total AssetsGrowth of Total Assets0%-13-

SHARE OF PAID-UP CAPITALAs of December 31, 2011Table 4(millions of KHR)Foriegn share Cambodian share Total Paid-upShare(%) Amount paid Share(%) Amount paid CapitalMarket ShareCommercial Banks1 CNB Canadia Bank Plc. - - 100.0% 444,290 444,290 8.8%2 CPB Cambodian Public Bank Plc 100.0% 363,510 - - 363,510 7.2%3 ACLEDA Acleda Bank Plc. 49.0% 155,108 51.0% 161,439 316,547 6.3%4 MJB Maruhan Japan Bank 100.0% 298,886 - - 298,886 5.9%5 ANZR ANZ Royal Bank (Cambodia) Ltd. 55.0% 157,723 45.0% 129,046 286,769 5.7%6 BIDC Bank for Investment and Development of Cambodia Plc 100.0% 282,730 - - 282,730 5.6%7 OSK OSK Indochina Bank Ltd 100.0% 161,560 - - 161,560 3.2%8 HDBS Hwang DBS Commercial Bank Plc 100.0% 161,560 - - 161,560 3.2%9 AGRI Agri Bank Cambodia Branch* 100.0% 157,521 - - 157,521 3.1%10 PPCB Phnom Penh Commercial Bank 100.0% 157,521 - - 157,521 3.1%11 FTB Foreign Trade Bank of Cambodia - - 100.0% 155,502 155,502 3.1%12 Sacomb Saigon Thuong Tin (Cambodia) Plc 100.0% 153,482 - - 153,482 3.0%13 UCB Union Commercial Bank Plc. 11.4% 17,312 88.6% 134,151 151,463 3.0%14 VB Vattanac Bank Ltd. - - 100.0% 151,463 151,463 3.0%15 CIMB CIMB Bank 100.0% 149,443 - - 149,443 3.0%16 CMB Cambodia Mekong Bank Public Ltd. - - 100.0% 149,443 149,443 3.0%17 CAB Cambodia Asia Bank Ltd. 100.0% 147,424 - - 147,424 2.9%18 BKB Booyong Khmer Bank 100.0% 145,404 - - 145,404 2.9%19 ABA Advanced Bank of Asia Ltd. 100.0% 145,404 - - 145,404 2.9%20 MAYB May Bank, Phnom Penh Branch* 100.0% 121,170 - - 121,170 2.4%21 FCB First Commercial Bank, Phnom Penh Branch* 100.0% 113,092 - - 113,092 2.2%22 CCB Cambodian Commercial Bank Ltd. 100.0% 100,975 - - 100,975 2.0%23 KTB Krung Thai Bank Public Co. Ltd., P.P. Branch* 100.0% 82,194 - - 82,194 1.6%24 SKB Shinhan Khmer Bank 100.0% 80,780 - - 80,780 1.6%25 SBC Singapore Banking Corporation 100.0% 68,663 - - 68,663 1.4%26 KBC Kookmin Bank Cambodia Plc 100.0% 64,624 - - 64,624 1.3%27 BOC Bank of China Phnom Penh Branch* 100.0% 60,585 - - 60,585 1.2%28 BIPP Bank of India Phnom Penh Branch* 100.0% 52,507 - - 52,507 1.0%Sub Total 3,399,177 1,325,333 4,724,510 93.6%Specialized Banks29 RDB Rural Development Bank - - 100.0% 82,284 82,284 1.6%30 CKSB CAMKO Specialized Bank Ltd. 100.0% 52,507 - - 52,507 1.0%31 FISB First Investment Specialized Bank - - 100.0% 48,468 48,468 1.0%32 ACB Angkor Capital Bank 100.0% 40,370 0.1% 20 40,390 0.8%33 TSB Tomato Specialized Bank 71.7% 23,467 28.7% 9,380 32,716 0.6%34 ASB Anco Specialized Bank - - 100.0% 32,716 32,716 0.6%35 PHSME PHSME Specialized Bank - - 100.0% 31,282 31,282 0.6%Sub Total 116,344 204,149 320,362 6.4%Total 3,515,521 1,529,482 5,044,872 100.0%* Foreign BranchNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*Minimum paid up capital of commercial bank and specialized bank is 150,000 million riel and 30,000 million riel respectively.MARKET SHARES OF PAID-UP CAPITAL9.0%8.0%7.0%6.0%5.0%4.0%3.0%2.0%1.0%0.0%8.8%7.2%6.3%5.9%5.7%5.6%3.2%3.2%3.1%3.1%3.1%3.0%3.0%3.0%3.0%3.0%2.9%2.9%2.9%2.4%2.2%2.0%1.6%1.6%1.4%1.3%1.2%1.0%1.6%1.0%1.0%0.8%0.6%0.6%0.6%100%50%0%FOREIGN AND CAMBODIAN SHARE OF PAID-UP CAPITAL54% 53% 58% 52% 56% 67% 71% 73% 70%46% 47% 42% 48% 44% 33% 29% 27% 30%2003 2004 2005 2006 2007 2008 2009 2010 2011Foreign Share (%)Cambodian Share (%)-14-

Table 5COMPARATIVE STATEMENT OF CONDITIONAS AT DECEMBER 31, 2011Cash, Loans, Deposits with NBC and BanksLoans and Advances to Customers(millions of KHR)Total Assets Cash GoldDeposits withNBCDue fromBanksDeposits with,Loans andadvances to,BanksLoans andadvances tostateenterprisesLoans andadvances toprivate sectorAccruedinterestreceivableSecuritiesClaims ongovermentPrepaidExpensesFixed assetsOther assetsCommercial Banks1 Acleda Bank Plc. 6,063,681 490,351 - 961,628 336,057 10,882 - 4,061,344 37,145 - - 17,400 132,591 16,2832 Canadia Bank Plc. 5,279,836 370,566 - 1,182,801 286,526 95,375 - 2,977,665 41,538 - - 17,588 193,226 114,5513 Cambodian Public Bank Plc 4,093,420 149,331 - 871,529 54,657 404,042 - 2,417,590 22,880 - - 9,322 165,270 (1,199)4 ANZ Royal Bank (Cambodia) Ltd. 2,840,347 139,389 - 959,695 23,617 276,181 - 1,301,854 105 - - 937 42,129 96,4415 BIDC 1,820,359 17,377 - 142,364 211,442 97,259 - 1,145,998 9,992 39,119 - 2,012 35,281 119,5176 Foreign Trade Bank of Cambodia 1,654,958 35,098 - 667,592 131,048 159,673 - 595,172 5,832 - - 2,317 57,589 6387 May Bank, Phnom Penh Branch* 1,290,251 64,251 - 412,394 115,919 20,201 - 656,117 3,815 - - 4,448 10,766 2,3408 Union Commercial Bank Plc. 1,025,197 208,114 - 143,561 43,468 14,250 - 586,079 1,202 873 - 1,258 22,286 4,1069 Bank of China Phnom Penh Branch* 833,832 12,873 - 379,679 57,520 353,023 - 24,618 8 - - 820 3,791 1,50010 Advanced Bank of Asia Ltd. 817,998 38,922 - 106,149 8,496 269,836 - 373,634 3,043 101 - 3,623 14,167 2711 Vattanac Bank Ltd. 763,629 97,846 - 166,415 27,476 74,672 - 342,187 822 - - 1,735 52,369 10812 First Commercial Bank, P.P Branch* 578,187 54,031 - 59,867 22,064 60,809 - 375,703 2,039 - - 1,318 1,599 75713 Maruhan Japan Bank Plc 501,262 9,335 - 232,685 11,767 111,783 - 122,495 481 - - 7,990 4,624 10314 Cambodian Commercial Bank Ltd. 474,833 22,022 - 280,530 28,973 - - 126,296 427 - - 250 10,842 5,49415 Phnom Penh Commercial Bank 413,934 17,195 - 47,042 15,244 152,719 - 173,301 1,036 - - 2,688 4,429 28216 OSK Indochina Bank Ltd 413,896 12,214 - 93,301 795 52,602 - 232,426 814 - - 1,718 20,023 417 CIMB 363,255 18,858 - 124,140 26,615 - - 171,173 752 - - 1,291 20,418 818 Saigon Thuong Tin (Cambodia) Plc 353,082 13,066 9,959 45,542 7,911 24,466 - 225,083 3,333 - - 19,965 3,757 -19 Agri Bank Cambodia Branch* 274,034 4,163 - 44,882 13,012 130,638 - 77,750 250 - - 340 2,952 4620 Cambodia Asia Bank Ltd. 271,189 85,074 - 28,833 15,064 2,467 - 134,392 1,394 - - 1,897 729 1,33921 Singapore Banking Corporation 256,538 41,501 - 39,040 9,439 1,766 - 137,411 729 - - 5,665 19,526 1,46022 Krung Thai Bank Public Ltd., P.P Branch* 229,641 4,455 28 46,197 2 64,810 - 111,329 678 - - 15 2,071 5723 Shinhan Khmer Bank 198,916 6,490 - 25,579 9,698 - - 152,566 438 - - - 3,685 46024 Hwang DBS Commercial Bank Plc. 198,540 3,361 - 22,475 3,284 62,332 - 74,118 736 7,173 - 250 24,306 50425 Kookmin Bank Cambodia Plc 187,653 8,214 - 24,119 24,366 26,443 - 98,147 854 - - 875 4,636 -26 Cambodia Mekong Bank Public Ltd. 183,550 16,980 - 46,687 11,632 2,032 - 80,175 399 - - 2,300 3,211 20,13427 Booyong Khmer Bank 152,422 590 - 15,587 2,661 130,954 - - - - - 2,223 407 -28 Bank of India Phnom Penh Branch* 67,478 357 - 8,255 1,441 39,974 - 16,698 71 - - 113 569 1Sub-Total 31,601,920 1,942,024 9,987 7,178,568 1,500,194 2,639,187 - 16,791,317 140,813 47,266 - 110,359 857,246 384,959Specialized Banks29 Rural Development Bank 209,828 3,255 - 62,552 4,664 8,331 - 127,320 1,400 - - 35 2,258 1330 First Investment Specialized Bank 61,268 22,573 - 8,205 3,601 - - 22,892 441 - - 842 2,098 61631 CAMKO Specialized Bank Ltd. 55,480 1,315 - 6,266 6,109 - - 39,838 1,525 - - 244 184 -32 Angkor Capital Bank 54,824 148 - 3,292 133 606 - 34,910 348 - - 295 15,092 -33 Anco Specialized Bank 38,350 2,289 - 1,639 - - - 33,677 654 - - 4 87 -34 PHSME Specialized Bank 34,659 6,283 - 4,204 27 - - 22,748 438 - - 38 922 -35 Tomato Specialized Bank 34,601 106 - 1,929 1,306 6,542 - 20,763 534 - - 240 2,970 210Sub-Total 489,010 35,969 - 88,087 15,841 15,479 - 302,148 5,339 - - 1,697 23,611 839Total 32,090,929 1,977,993 9,987 7,266,655 1,516,035 2,654,666 - 17,093,464 146,152 47,266 - 112,056 880,857 385,798* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-15-

Table 6PERCENTAGE DISTRIBUTION OF ASSETS OF INDIVIDUAL BANKSAS AT DECEMBER 31, 2011Cash, Loans, Deposits with NBC and BanksLoans and Advances to CustomersTotal Assets Cash GoldDeposits withNBCDue fromBanksDeposits with,Loans andadvances to,BanksLoans andadvances tostateenterprisesLoans andadvances toprivate sectorAccruedinterestreceivableSecuritiesClaims ongovermentPrepaidExpensesFixed assetsOther assetsCommercial Banks1 Acleda Bank Plc. 100 8.1 - 15.9 5.5 0.2 - 67.0 0.6 - - 0.3 2.2 0.32 Canadia Bank Plc. 100 7.0 - 22.4 5.4 1.8 - 56.4 0.8 - - 0.3 3.7 2.23 Cambodian Public Bank Plc 100 3.6 - 21.3 1.3 9.9 - 59.1 0.6 - - 0.2 4.0 (0.0)4 ANZ Royal Bank (Cambodia) Ltd. 100 4.9 - 33.8 0.8 9.7 - 45.8 0.0 - - 0.0 1.5 3.45 BIDC 100 1.0 - 7.8 11.6 5.3 - 63.0 0.5 2.1 - 0.1 1.9 6.66 Foreign Trade Bank of Cambodia 100 2.1 - 40.3 7.9 9.6 - 36.0 0.4 - - 0.1 3.5 0.07 May Bank, Phnom Penh Branch* 100 5.0 - 32.0 9.0 1.6 - 50.9 0.3 - - 0.3 0.8 0.28 Union Commercial Bank Plc. 100 20.3 - 14.0 4.2 1.4 - 57.2 0.1 0.1 - 0.1 2.2 0.49 Bank of China Phnom Penh Branch* 100 1.5 - 45.5 6.9 42.3 - 3.0 0.0 - - 0.1 0.5 0.210 Advanced Bank of Asia Ltd. 100 4.8 - 13.0 1.0 33.0 - 45.7 0.4 0.0 - 0.4 1.7 0.011 Vattanac Bank Ltd. 100 12.8 - 21.8 3.6 9.8 - 44.8 0.1 - - 0.2 6.9 0.012 First Commercial Bank, P.P Branch* 100 9.3 - 10.4 3.8 10.5 - 65.0 0.4 - - 0.2 0.3 0.113 Maruhan Japan Bank Plc 100 1.9 - 46.4 2.3 22.3 - 24.4 0.1 - - 1.6 0.9 0.014 Cambodian Commercial Bank Ltd. 100 4.6 - 59.1 6.1 - - 26.6 0.1 - - 0.1 2.3 1.215 Phnom Penh Commercial Bank 100 4.2 - 11.4 3.7 36.9 - 41.9 0.3 - - 0.6 1.1 0.116 OSK Indochina Bank Ltd 100 3.0 - 22.5 0.2 12.7 - 56.2 0.2 - - 0.4 4.8 0.017 CIMB 100 5.2 - 34.2 7.3 - - 47.1 0.2 - - 0.4 5.6 0.018 Saigon Thuong Tin (Cambodia) Plc 100 3.7 2.8 12.9 2.2 6.9 - 63.7 0.9 - - 5.7 1.1 -19 Agri Bank Cambodia Branch* 100 1.5 - 16.4 4.7 47.7 - 28.4 0.1 - - 0.1 1.1 0.020 Cambodia Asia Bank Ltd. 100 31.4 - 10.6 5.6 0.9 - 49.6 0.5 - - 0.7 0.3 0.521 Singapore Banking Corporation 100 16.2 - 15.2 3.7 0.7 - 53.6 0.3 - - 2.2 7.6 0.622 Krung Thai Bank Public Ltd., P.P Branch* 100 1.9 0.0 20.1 0.0 28.2 - 48.5 0.3 - - 0.0 0.9 0.023 Shinhan Khmer Bank 100 3.3 - 12.9 4.9 - - 76.7 0.2 - - - 1.9 0.224 Hwang DBS Commercial Bank Plc. 100 1.7 - 11.3 1.7 31.4 - 37.3 0.4 3.6 - 0.1 12.2 0.325 Kookmin Bank Cambodia Plc 100 4.4 - 12.9 13.0 14.1 - 52.3 0.5 - - 0.5 2.5 -26 Cambodia Mekong Bank Public Ltd. 100 9.3 - 25.4 6.3 1.1 - 43.7 0.2 - - 1.3 1.7 11.027 Booyong Khmer Bank 100 0.4 - 10.2 1.7 85.9 - - - - - 1.5 0.3 -28 Bank of India Phnom Penh Branch* 100 0.5 - 12.2 2.1 59.2 - 24.7 0.1 - - 0.2 0.8 0.0Sub-Total 100 6.1 0.0 22.7 4.7 8.4 - 53.1 0.4 0.1 - 0.3 2.7 1.2Specialized Banks29 Rural Development Bank 100 1.6 - 29.8 2.2 4.0 - 60.7 0.7 - - 0.0 1.1 0.030 First Investment Specialized Bank 100 36.8 - 13.4 5.9 - - 37.4 0.7 - - 1.4 3.4 1.031 CAMKO Specialized Bank Ltd. 100 2.4 - 11.3 11.0 - - 71.8 2.7 - - 0.4 0.3 -32 Angkor Capital Bank 100 0.3 - 6.0 0.2 1.1 - 63.7 0.6 - - 0.5 27.5 -33 Anco Specialized Bank 100 6.0 - 4.3 - - - 87.8 1.7 - - 0.0 0.2 -34 PHSME Specialized Bank 100 18.1 - 12.1 0.1 - - 65.6 1.3 - - 0.1 2.7 -35 Tomato Specialized Bank 100 0.3 - 5.6 3.8 18.9 - 60.0 1.5 - - 0.7 8.6 0.6Sub-Total 100 7.4 - 18.0 3.2 3.2 - 61.8 1.1 - - 0.3 4.8 0.2Total 100 6.2 0.0 22.6 4.7 8.3 - 53.3 0.5 0.1 - 0.3 2.7 1.2* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-16-

Table 7TotalLiabilitiesand EquityOwed toNBCOwed toBanksBorrowedFundsCOMPARATIVE STATEMENT OF CONDITIONAS AT DECEMBER 31, 2011DemanddepositsSavingdepositsCustomer's depositFixeddepositsAccruedinterestpayableOtherdepositsPaid upCapitalReservesShareholder's equitySubordinatedloans (afterNBC'sagreement)Generalprovisions &other(millions of KHR)Retained andCurrentProfit/LossCommercial Banks1 Acleda Bank Plc. 6,063,681 - 169,959 145,054 482,818 2,017,137 1,946,771 27,547 17,776 290,140 316,547 - 266,878 206,183 176,8732 Canadia Bank Plc. 5,279,836 - 405,036 - 233,685 1,336,694 2,343,246 51,139 9,658 201,237 444,290 - 28,596 - 226,2553 Cambodian Public Bank Plc 4,093,420 - 11,956 - 755,659 789,139 1,568,680 21,157 2,343 79,735 363,510 161,560 - - 339,6824 ANZ Royal Bank (Cambodia) Ltd. 2,840,347 - 50,476 - 948,425 923,735 431,112 2,821 - 148,286 286,769 - - - 48,7245 BIDC 1,820,359 - 1,019,875 - 129,125 11,387 287,840 11,989 24,199 33,171 282,730 - - 651 19,3936 Foreign Trade Bank of Cambodia 1,654,958 - 89,275 - 260,271 360,408 678,760 9,694 5,956 22,375 155,502 546 - 244 71,9287 May Bank, Phnom Penh Branch* 1,290,251 - 510,825 - 272,696 135,889 195,922 1,075 1,135 21,859 121,170 - - - 29,6818 Union Commercial Bank Plc. 1,025,197 - 48,868 - 135,947 213,732 405,333 21,470 2,157 22,702 151,463 - - 124 23,4019 Bank of China Phnom Penh Branch* 833,832 - 86,011 284 185,015 86,570 41,318 413 236,121 103,496 60,585 - 40,390 - (6,371)10 Advanced Bank of Asia Ltd. 817,998 - 15,087 - 20,145 375,141 255,721 5,866 2,818 5,506 145,404 - - - (7,690)11 Vattanac Bank Ltd. 763,629 - 440 - 149,756 117,380 308,540 3,704 956 8,171 151,463 - - - 23,22012 First Commercial Bank, P.P Branch* 578,187 - 139,756 - 42,400 151,596 90,297 8,764 993 4,315 113,092 - - - 26,97413 Maruhan Japan Bank Plc 501,262 - 17,153 - 6,373 125,170 77,969 1,799 1 3,417 298,886 - - - (29,507)14 Cambodian Commercial Bank Ltd. 474,833 - 81 - 67,581 245,079 23,524 41 1,445 6,669 100,975 - - - 29,43815 Phnom Penh Commercial Bank 413,934 - 158,311 - 3,564 31,259 50,726 827 1,459 3,083 157,521 - - - 7,18316 OSK Indochina Bank Ltd 413,896 - 71,680 - 53,047 23,165 110,317 1,719 377 4,894 161,560 - - - (12,862)17 CIMB 363,256 - 12,253253 - 45,696 18,995 135,072 570 - 16,647647 149,443443 - - - (15,421)18 Saigon Thuong Tin (Cambodia) Plc 353,082 - 120,154 - 7,848 27,316 21,978 168 - 11,523 153,482 - - - 10,61319 Agri Bank Cambodia Branch* 274,034 - - - 22,204 689 3,414 85 75,395 12,890 157,521 - - - 1,83520 Cambodia Asia Bank Ltd. 271,189 - - - 20,186 26,578 64,595 1,570 - 2,932 147,424 - - - 7,90621 Singapore Banking Corporation 256,538 - 20 - 61,317 77,455 53,443 1,052 539 5,092 68,663 - - - (11,043)22 Krung Thai Bank Public Ltd., P.P Branch* 229,641 - 9,170 55,149 5,253 58,386 391 0 0 2,487 82,194 - - 706 15,90623 Shinhan Khmer Bank 198,916 - 8,373 - 18,628 57,376 15,757 20 72 3,205 80,780 - - - 14,70424 Hwang DBS Commercial Bank Plc. 198,540 - 29,476 - 4,441 4,836 3,120 34 36 1,158 161,560 - - - (6,120)25 Kookmin Bank Cambodia Plc 187,653 - 59,148 - 8,603 42,850 13,055 75 1,151 2,073 64,624 - - - (3,925)26 Cambodia Mekong Bank Public Ltd. 183,550 - 47 - 42,860 23,835 - 58 8,626 1,889 149,443 - - - (43,207)27 Booyong Khmer Bank 152,422 - - - 51 3,425 - 0 - 380 145,404 - - - 3,16228 Bank of India Phnom Penh Branch* 67,478 - 8,089 - 533 1,266 1,551 33 0 649 52,507 - 4,039 - (1,189)Sub-Total 31,601,920 - 3,041,520 200,487 3,984,127 7,286,486 9,128,450 173,690 393,214 1,019,980 4,724,510 162,106 339,903 207,908 939,539Specialized Banks29 Rural Development Bank 209,828 - 534 96,983 3,018 858 1,441 25 0 5,047 82,284 - 6,325 - 13,31230 First Investment Specialized Bank 61,268 - - - - - - - - 508 48,468 10,837 - - 1,45531 CAMKO Specialized Bank Ltd. 55,480 - - - 30 138 - - - 286 52,507 - - - 2,51932 Angkor Capital Bank 54,824 - 22,426 - 442 4 - - - 5,660 40,390 - - - (14,099)33 Anco Specialized Bank 38,350 - - - - - - - - 1,500 32,716 - - - 4,13534 PHSME Specialized Bank 34,659 - - - 1,918 - - - - 841 31,282 - - - 61835 Tomato Specialized Bank 34,601 - - 1,616 8 - - - - 838 32,716 - - - (577)Sub-Total 489,010 - 22,960 98,599 5,415 1,001 1,441 25 0 14,681 320,362 10,837 6,325 - 7,362OtherliabilitiesTotal 32,090,929 - 3,064,480 299,086 3,989,543 7,287,487 9,129,892 173,716 393,214 1,034,661 5,044,872 172,943 346,228 207,908 946,901* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-17-

Table 8TotalLiabilitiesand EquityOwed toNBCPERCENTAGE DISTRIBUTION OF LIABILITIES & EQUITY OF INDIVIDUAL BANKSAS AT DECEMBER 31, 2011Owed toBanksBorrowedFundsDemanddepositsSavingdepositsCustomer's depositFixeddepositsAccruedinterestpayableOtherdepositsPaid upCapitalReservesSubordinatedloans (afterNBC'sagreement)Generalprovisions &otherRetained andCurrentProfit/LossCommercial Banks1 Acleda Bank Plc. 100.0 - 2.8 2.4 8.0 33.3 32.1 0.5 0.3 4.8 5.2 - 4.4 3.4 2.92 Canadia Bank Plc. 100.0 - 7.7 - 4.4 25.3 44.4 1.0 0.2 3.8 8.4 - 0.5 - 4.33 Cambodian Public Bank Plc 100.0 - 0.3 - 18.5 19.3 38.3 0.5 0.1 1.9 8.9 3.9 - - 8.34 ANZ Royal Bank (Cambodia) Ltd. 100.0 - 1.8 - 33.4 32.5 15.2 0.1 - 5.2 10.1 - - - 1.75 BIDC 100.0 - 56.0 - 7.1 0.6 15.8 0.7 1.3 1.8 15.5 - - 0.0 1.16 Foreign Trade Bank of Cambodia 100.0 - 5.4 - 15.7 21.8 41.0 0.6 0.4 1.4 9.4 0.0 - 0.0 4.37 May Bank, Phnom Penh Branch* 100.0 - 39.6 - 21.1 10.5 15.2 0.1 0.1 1.7 9.4 - - - 2.38 Union Commercial Bank Plc. 100.0 - 4.8 - 13.3 20.8 39.5 2.1 0.2 2.2 14.8 - - 0.0 2.39 Bank of China Phnom Penh Branch* 100.0 - 10.3 0.0 22.2 10.4 5.0 0.0 28.3 12.4 7.3 - 4.8 - (0.8)10 Advanced Bank of Asia Ltd. 100.0 - 1.8 - 2.5 45.9 31.3 0.7 0.3 0.7 17.8 - - - (0.9)11 Vattanac Bank Ltd. 100.0 - 0.1 - 19.6 15.4 40.4 0.5 0.1 1.1 19.8 - - - 3.012 First Commercial Bank, P.P Branch* 100.0 - 24.2 - 7.3 26.2 15.6 1.5 0.2 0.7 19.6 - - - 4.713 Maruhan Japan Bank Plc 100.0 - 3.4 - 1.3 25.0 15.6 0.4 0.0 0.7 59.6 - - - (5.9)14 Cambodian Commercial Bank Ltd. 100.0 - 0.0 - 14.2 51.6 5.0 0.0 0.3 1.4 21.3 - - - 6.215 Phnom Penh Commercial Bank 100.0 - 38.2 - 0.9 7.6 12.3 0.2 0.4 0.7 38.1 - - - 1.716 OSK Indochina Bank Ltd 100.0 - 17.3 - 12.8 5.6 26.7 0.4 0.1 1.2 39.0 - - - (3.1)17 CIMB 100.0 - 3.4 - 12.6 5.2 37.2 0.2 - 4.6 41.1 - - - (4.2)18 Saigon Thuong Tin (Cambodia) Plc 100.0 - 34.0 - 2.2 7.7 6.2 0.0 - 3.3 43.5 - - - 3.019 Agri Bank Cambodia Branch* 100.0 - - - 8.1 0.3 1.2 0.0 27.5 4.7 57.5 - - - 0.720 Cambodia Asia Bank Ltd. 100.0 - - - 7.4 9.8 23.8 0.6 - 1.1 54.4 - - - 2.921 Singapore Banking Corporation 100.0 - 0.0 - 23.9 30.2 20.8 0.4 0.2 2.0 26.8 - - - (4.3)22 Krung Thai Bank Public Ltd., P.P Branch* 100.0 - 4.0 24.0 2.3 25.4 0.2 0.0 0.0 1.1 35.8 - - 0.3 6.923 Shinhan Khmer Bank 100.0 - 4.2 - 9.4 28.8 7.9 0.0 0.0 1.6 40.6 - - - 7.424 Hwang DBS Commercial Bank Plc. 100.0 - 14.8 - 2.2 2.4 1.6 0.0 0.0 0.6 81.4 - - - (3.1)25 Kookmin Bank Cambodia Plc 100.0 - 31.5 - 4.6 22.8 7.0 0.0 0.6 1.1 34.4 - - - (2.1)26 Cambodia Mekong Bank Public Ltd. 100.0 - 0.0 - 23.4 13.0 - 0.0 4.7 1.0 81.4 - - - (23.5)27 Booyong Khmer Bank 100.0 - - - 0.0 2.2 - 0.0 - 0.2 95.4 - - - 2.128 Bank of India Phnom Penh Branch* 100.0 - 12.0 - 0.8 1.9 2.3 0.0 0.0 1.0 77.8 - 6.0 - (1.8)Sub-Total 100.0 - 9.6 0.6 12.6 23.1 28.9 0.5 1.2 3.2 15.0 0.5 1.1 0.7 3.0OtherliabilitiesShareholder's equitySpecialized Banks29 Rural Development Bank 100.0 - 0.3 46.2 1.4 0.4 0.7 0.0 0.0 2.4 39.2 - 3.0 - 6.330 First Investment Specialized Bank 100.0 - - - - - - - - 0.8 79.1 17.7 - - 2.431 CAMKO Specialized Bank Ltd. 100.0 - - - 0.1 0.2 - - - 0.5 94.6 - - - 4.532 Angkor Capital Bank 100.0 - 40.9 - 0.8 0.0 - - - 10.3 73.7 - - - (25.7)33 Anco Specialized Bank 100.0 - - - - - - - - 3.9 85.3 - - - 10.834 PHSME Specialized Bank 100.0 - - - 5.5 - - - - 2.4 90.3 - - - 1.835 Tomato Specialized Bank 100.0 - - 4.7 0.0 - - - - 2.4 94.6 - - - (1.7)Sub-Total 100.0 - 4.7 20.2 1.1 0.2 0.3 0.0 0.0 3.0 65.5 2.2 1.3 - 1.5Total 100.0 - 9.5 0.9 12.4 22.7 28.5 0.5 1.2 3.2 15.7 0.5 1.1 0.6 3.0* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-18-

Table 9Commercial BanksPROFIT AND LOSS STATEMENTFor the Year Ending December 31, 2011(millions of KHR)Interest Interest Net interest Non GOI Operating Provision Expenses Recoveries P&L Profit Extra gains or Net profitincome Expenses Income Interest (Gross Expenses Depreciation Bad debts & Before Tax Losses Prior & Loss forIncome Operating (Excluding Doubtful Tax year Adjustment 12 monthsInc or loss) depriciation) G/Reserves1 2 3=1-2 4 5=3+4 6 7 8 9 10=5-6-7-8+9 11 12 13=10-11+/-121 Acleda Bank Plc. 586,905 116,392 470,514 101,556 572,070 316,048 21,522 14,760 3,888 223,627 44,218 (2,536) 176,8732 Canadia Bank Plc. 268,698 118,023 150,676 59,605 210,280 65,492 11,562 26,659 35,963 142,531 - (34) 142,4973 Cambodian Public Bank Plc 251,654 85,507 166,147 51,090 217,236 51,351 10,523 39,211 3,413 119,565 22,824 (1,021) 95,7204 ANZ Royal Bank (Cambodia) Ltd. 114,919 19,168 95,751 64,044 159,794 85,651 10,426 2,622 - 61,095 12,233 72 48,9335 Foreign Trade Bank of Cambodia 72,392 34,352 38,040 10,182 48,222 14,780 836 3,353 6,463 35,717 - - 35,7176 First Commercial Bank, P.P. Branch 32,941 3,371 29,570 4,739 34,309 7,702 480 2,533 - 23,594 - - 23,5947 Bank for Investment and development of Cambodia Plc. 117,012 74,341 42,671 11,889 54,560 22,059 1,892 5,889 - 24,720 5,318 (9) 19,3938 Union Commercial Bank Plc. 57,965 26,936 31,029 17,648 48,677 18,221 1,796 5,036 355 23,979 5,477 123 18,6259 Vattanac Bank Ltd. 32,200 11,929 20,271 8,857 29,128 13,935 2,334 (2,809) - 15,667 3,146 61 12,58310 May Bank, Phnom Penh Branch* 49,584 6,098 43,486 8,479 51,965 15,919 4,088 13,653 - 18,305 6,990 129 11,44311 Saigon Thuong Tin (Cambodia) Plc 21,574 2,467 19,107 (276) 18,832 7,041 867 739 - 10,184 2,102 2,531 10,61312 Advanced Bank of Asia Ltd. 53,446 27,159 26,287 9,543 35,830 19,099 4,403 4,433 973 8,868 666 (29) 8,17313 Shinhan Khmer Bank 11,469 511 10,958 3,287 14,245 5,685 518 279 - 7,763 1,767 48 6,04414 Phnom Penh Commercial Bank 18,421 5,354 13,067 2,904 15,971 8,238 853 825 - 6,055 1,355 720 5,41915 Cambodian Commercial Bank Ltd. 7,481 475 7,006 5,650 12,656 5,880 1,313 - - 5,463 1,340 613 4,73516 Agriculture Bank 8,402 624 7,778 462 8,240 3,636 484 264 - 3,855 315 6 3,54717 Singapore Banking Corporation Ltd. 12,750 2,413 10,337 7,042 17,379 12,743 1,103 1,008 5 2,530 - 37 2,56718 Krung Thai Bank Public P.P. Branch 3,978 110 3,868 2,701 6,569 2,817 319 (137) - 3,570 890 (225) 2,45519 Booyong Khmer Bank 2,507 14 2,492 398 2,890 1,508 385 (6) 808 1,811 395 0 1,41620 Cambodia Asia Bank Ltd. 9,069 3,158 5,911 13,786 19,698 13,483 808 4,224 56 1,239 303 321 1,25721 Kookmin Bank Cambodia 9,413 1,388 8,025 2,626 10,652 6,272 810 2,690 35 915 112 2 80522 Cambodia Mekong Bank Public Ltd. 8,182 764 7,418 1,541 8,959 8,292 1,577 (1,763) 3 857 154 0 70323 Bank of India PP branch 1,725 93 1,633 216 1,848 1,325 17 351 - 155 26 - 12924 Hwang DBS 7,560 297 7,263 (303) 6,960 6,164 247 1,195 - (646) 83 3 (726)25 Bank of China* 2,090 1,349 741 4,173 4,914 8,459 1,567 1,054 - (6,166) (1,020) - (5,146)26 OSK Indochina Bank Ltd 17,748 5,972 11,776 2,829 14,605 15,673 2,787 1,386 - (5,240) 211 - (5,451)27 Maruhan Japan Bank Plc 10,608 5,370 5,238 3,376 8,614 8,268 4,393 1,416 - (5,463) 145 (61) (5,669)28 CIMB Bank Plc. 6,467 2,003 4,464 664 5,127 10,915 5,936 1,712 - (13,436) 75 (84) (13,594)Sub total 1,797,161 555,637 1,241,524 398,707 1,640,231 756,656 93,846 130,575 51,961 711,114 109,125 665 602,653Specialized Banks29 Rural Development Bank 8,408 233 8,175 457 8,632 3,787 350 567 - 3,928 81 (191) 3,65630 Anco Specialized Bank Ltd. 4,860 - 4,860 187 5,048 607 100 372 - 3,969 794 (0) 3,17531 CAMKO Specialized Bank Ltd. 6,385 1,231 5,154 122 5,277 2,671 329 - - 2,276 66 (1) 2,20932 First Investment Specialized Bank Ltd. 2,600 - 2,600 949 3,549 1,663 245 1,024 851 1,468 - (13) 1,45533 PHSME Specialized Bank Ltd. 3,187 - 3,187 226 3,413 1,943 125 855 255 746 - (130) 61534 Tomato Specialized Bank 3,440 - 3,440 306 3,746 2,211 650 812 - 72 40 2 3435 Angkor Capital Specialized Bank 4,588 55 4,533 347 4,880 1,706 1,468 9,500 - (7,793) 51 0 (7,844)Sub total 33,468 1,519 31,949 2,595 34,544 14,587 3,266 13,130 1,106 4,666 1,032 (334) 3,301Total 1,830,629 557,156 1,273,473 401,302 1,674,775 771,244 97,113 143,705 53,067 715,780 110,157 331 605,954* Foreign BranchNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-19-

Table 10Commercial BanksNET PROFITSFor the Year Ending December 31, 2011Net profitTotal AssetsAs Percentage ofAssetsLoans 1(millions of KHR)As Percentage ofLoans1 Acleda Bank Plc. 176,873 6,063,681 2.9% 4,102,821 4.3%2 Canadia Bank Plc. 142,497 5,279,836 2.7% 3,079,009 4.6%3 Cambodian Public Bank Plc 95,720 4,093,420 2.3% 2,484,017 3.9%4 ANZ Royal Bank (Cambodia) Ltd. 48,933 2,840,347 1.7% 1,332,837 3.7%5 Foreign Trade Bank of Cambodia 35,717 1,654,958 2.2% 608,553 5.9%6 First Commercial Bank, Phnom Penh Branch* 23,594 578,187 4.1% 379,811 6.2%7 Bank for Investment and Development of Cambodia Plc 19,393 1,820,359 1.1% 1,156,250 1.7%8 Union Commercial Bank Plc. 18,625 1,025,197 1.8% 589,874 3.2%9 Vattanac Bank Ltd. 12,583 763,629 1.6% 343,242 3.7%10 May Bank, Phnom Penh Branch* 11,443 1,290,251 0.9% 682,814 1.7%11 Saigon Thuong Tin (Cambodia) Plc 10,613 353,082 3.0% 229,563 4.6%12 Advanced Bank of Asia Ltd. 8,173 817,998 1.0% 379,903 2.2%13 Shinhan Khmer Bank 6,044 198,916 3.0% 153,058 3.9%14 Phnom Penh Commercial Bank 5,419 413,934 1.3% 174,337 3.1%15 Cambodian Commercial Bank Ltd. 4,735 474,833 1.0% 126,722 3.7%16 Agri Bank Cambodia Branch* 3,547 274,034 1.3% 78,057 4.5%17 Singapore Banking Corporation 2,567 256,538 1.0% 138,281 1.9%18 Krung Thai Bank Public Co. Ltd., P.P. Branch* 2,455 229,641 1.1% 112,006 2.2%19 Booyong Khmer Bank 1,416 152,422 0.9% - 0.0%20 Cambodia Asia Bank Ltd. 1,257 271,189 0.5% 142,366 0.9%21 Kookmin Bank Cambodia Plc 805 187,653 0.4% 101,414 0.8%22 Cambodia Mekong Bank Public Ltd. 703 183,550 0.4% 87,481 0.8%23 Bank of India Phnom Penh Branch* 129 67,478 0.2% 16,769 0.8%24 Hwang DBS Commercial Bank Plc (726) 198,540 -0.4% 75,668 -1.0%25 Bank of China Phnom Penh Branch* (5,146) 833,832 -0.6% 24,626 -20.9%26 OSK Indochina Bank Ltd (5,451) 413,896 -1.3% 233,588 -2.3%27 Maruhan Japan Bank Plc (5,669) 501,262 -1.1% 133,163 -4.3%28 CIMB Bank (13,594) 363,255 -3.7% 171,925 -7.9%Sub total 602,653 31,601,920 1.9% 17,138,155 3.5%Specialized Banks29 Rural Development Bank 3,656 209,828 1.7% 130,811 2.8%30 Anco Specialized Bank 3,175 38,350 8.3% 39,261 8.1%31 CAMKO Specialized Bank Ltd. 2,209 55,480 4.0% 44,259 5.0%32 First Investment Specialized Bank 1,455 61,268 2.4% 24,327 6.0%33 PHSME Specialized Bank 615 34,659 1.8% 24,102 2.6%34 Tomato Specialized Bank 34 34,601 0.1% 22,143 0.2%35 Angkor Capital Specialized Bank (7,844) 54,824 -14.3% 51,319 -15.3%Sub total 3,301 489,010 0.7% 336,222 1.0%Total 605,954 32,090,929 1.9% 17,474,377 3.5%* Foreign Branch1 Gross Loans (excluding loans to government & banks)Note: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*800,000129%Net Profits150%600,000400,000200,000-73%67%62%31%42%-46%98,014 224,148 373,815 489,478 263,108 374,018 605,954100%50%0%-50%-100%Net profitsPercentage changes2005 2006 2007 2008 2009 2010 2011-20-

Table 11COMPARISON OF TOTAL DEPOSITS 1As of December 31, 2011(millions of KHR)2011 2010 Growth Rate (%)Commercial BanksShare Share 2011 over 20101 Acleda Bank Plc. 4,492,049 21.4% 3,606,757 20.6% 24.5%2 Canadia Bank Plc. 3,974,422 18.9% 3,101,796 17.7% 28.1%3 Cambodian Public Bank Plc 3,136,978 15.0% 3,231,618 18.5% -2.9%4 ANZ Royal Bank (Cambodia) Ltd. 2,306,093 11.0% 2,059,786 11.8% 12.0%5 Foreign Trade Bank of Cambodia 1,315,089 6.3% 1,076,071 6.2% 22.2%6 Union Commercial Bank Plc. 778,639 3.7% 631,136 3.6% 23.4%7 Advanced Bank of Asia Ltd. 659,691 3.1% 477,593 2.7% 38.1%8 May Bank, Phnom Penh Branch* 606,716 2.9% 788,443 4.5% -23.0%9 Vattanac Bank Ltd. 580,336 2.8% 660,287 3.8% -12.1%10 Bank of China Phnom Penh Branch* 549,437 2.6% - 0.0% 0.0%11 Bank for Investment and Development of Cambodia Plc 464,539 2.2% 394,786 2.3% 17.7%12 Cambodian Commercial Bank Ltd. 337,670 1.6% 291,111 1.7% 16.0%13 First Commercial Bank, Phnom Penh Branch* 294,051 1.4% 163,477 0.9% 79.9%14 Maruhan Japan Bank Plc. 211,313 1.0% 164,965 0.9% 28.1%15 CIMB Bank 200,333 1.0% 12,214 0.1% 1540.2%16 Singapore Banking Corporation 193,807 0.9% 167,513 1.0% 15.7%17 OSK Indochina Bank 188,624 0.9% 95,594 0.5% 97.3%18 Cambodia Asia Bank Ltd. 112,929 0.5% 76,788 0.4% 47.1%19 Agri Bank Cambodia Bank* 101,788 0.5% 14,882 0.1% 584.0%20 Shinhan Khmer Bank 91,853 0.4% 93,519 0.5% -1.8%21 Phnom Penh Commercial Bank 87,836 0.4% 44,254 0.3% 98.5%22 Cambodia Mekong Bank Public Ltd. 75,379 0.4% 64,928 0.4% 16.1%23 Kookmin Bank Cambodia Plc 65,734 0.3% 37,238 0.2% 76.5%24 Krung Thai Bank Public Co. Ltd., P.P. Branch* 64,030 0.3% 50,408 0.3% 27.0%25 Saigon Thuong Tin (Cambodia) Plc 57,310 0.3% 63,744 0.4% -10.1%26 Hwang DBS Commercial Bank Plc 12,466 0.1% 12,935 0.1% -3.6%27 Booyoung Khmer Bank 3,477 0.0% 634 0.0% 448.3%28 Bank of India Phnom Penh Branch* 3,383 0.0% 4,137 0.0% -18.2%Sub-total 20,965,968 100.0% 17,386,611 99.5% 20.6%Specialized Banks29 Rural Development Bank 5,343 0.0% 5,122 0.0% 4.1%30 PHSME Specialized Bank 1,918 0.0% 409 0.0% 78.7%31 Angkor Capital Specialized Bank 446 0.0% 25,742 0.1% -98.3%32 CAMKO Specialized Bank Ltd. 168 0.0% 61,238 0.4% -99.7%33 Tomato Specialized Bank 8 0.0% 85 0.0% -1007.2%34 First Investment Specialized Bank - 0.0% 18 0.0% 0.0%35 Anco Specialized Bank - 0.0% - 0.0% 0.0%Sub-total 7,883 0.0% 92,613 0.5% -91.5%Total 20,973,851 100.0% 17,479,224 100.0% 20.0%* Foreign branches1 Excluding deposits from Banks and Other Financial Institutions (OFIs), both local and abroad.Note: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*Total Deposits 1 and Deposits GrowthTotal deposit as at Dec. 31Billions of KHR25,00020,00015,00010,0005,000-18%3,92744%5,65575%9,9224%10,28735%13,84226%17,47920%20,97480%70%60%50%40%30%20%10%0%2005 2006 2007 2008 2009 2010 2011DepositsGrowth rate-21-

TOTAL DEPOSITS CLASSIFIED BY CUSTOMER TYPEAs of December 31, 2011Table 12(millions of KHR)Total DepositsGovernmentStateEnterpriseMunicipalityBankIncorporatedin CamobodiaOther localFinancialInstitutionsBusinessEnterpriseIndividualsNon-profitOrganizationBankIncorporatedAbroadOther abroadFinancialInstitutionsNon-ResidentOthersCommercial Banks1 ACLEDA Bank 4,662,007 176,801 19,633 1,427 169,802 - 721,779 3,268,806 48,119 157 - 254,722 7622 Canadia Bank Ltd. 4,379,457 76,154 162,430 - 285,606 41,423 1,564,834 2,084,142 - - 78,007 70,314 16,5473 Cambodian Public Bank Plc 3,148,934 - - - 11,956 - 1,405,663 1,621,288 73,293 - - 36,735 -4 ANZ Royal Cambodia 2,326,659 570 7,120 - 517 20,049 771,004 1,371,531 37,402 - - 65,647 52,8185 Bank for Investment & Development of Cambodia 1,484,414 - 14,711 - 89,057 36,763 207,599 38,110 - 894,054 - 194,951 9,1676 Foreign Trade Bank of Cambodia 1,404,364 128,434 334,467 1,149 89,275 - 308,601 529,110 - - - 7,372 5,9567 May Bank 1,117,540 - - - 501,393 - 317,371 280,327 - 9,432 - 9,018 -8 Union Commercial Bank Plc. 827,507 - - - 48,868 - 210,165 551,532 - - - 16,942 -9 Advanced Bank of Asia Ltd. 674,778 - - - 12,448 2,639 162,284 467,312 - - - 27,277 2,81810 Bank of China Phnom Penh Branch Ltd. 635,448 - - - 86,011 - 426,862 89,138 - - - 33,437 -11 Vattanac Bank 580,776 - 9,893 60 440 - 130,111 427,505 12,742 - - 25 -12 First Commercial Bank 433,807 - - - - - 187,232 106,819 - 139,756 - - -13 Cambodian Commercial Bank Ltd. 337,670 185 - - - - 228,093 83,985 13,322 - - 12,085 -14 OSK Indochina Bank 259,820 - - - 68,990 - 83,424 89,420 - 1,818 388 15,404 37715 Phnom Penh Commercial Bank 246,147 2 - - 125,395 32,916 24,424 60,421 - - - 1,540 1,44816 Maruhan Japan Bank Plc. 228,466 - - - 16,314 839 33,753 80,505 - - - 97,054 -17 CIMB Bank Plc. 212,586 - - - 12,253 - 36,285 61,306 2 - - - 102,73918 Singapore Banking Corporation Ltd. 193,826 - - - 20 - 39,808 146,352 - - - 7,646 -19 Saigon Thuong Tin (Cambodia) Plc 177,464 - - - 120,154 - 7,659 49,625 - - - 26 -20 KOOKMIN Bank Cambodia Plc. 124,882 - - - 37,990 21,158 30,694 35,040 - - - - -21 Cambodia Asia Bank Ltd. 112,929 - - - - - 20,766 92,163 - - - - -22 AGRI Bank Cambodia Branch 101,788 - - - - - 95,098 6,688 - - - 3 -23 Shinhan Khmer Bank 100,226 - - - 8,160 - 64,250 18,040 1,767 213 - 7,306 49024 Cambodia Mekong Bank Ltd. 75,425 - - - 47 - 41,697 32,986 - - - - 69625 Krung Thai Bank Public Co. Ltd. 64,030 - - - - - 53,870 10,159 - - - - -26 HwangDBS 41,942 - - - 8,345 157 2,468 8,534 113 858 20,116 1,315 3627 Bank of India Phnom Penh Branch 4,192 - - - 809 - 368 3,002 - - - 13 -28 Booyoung Khmer Bank 3,477 - - - - - 3,194 282 - - - - -Sub total 23,960,561 382,147 548,254 2,636 1,693,851 155,944 7,179,359 11,614,128 186,760 1,046,288 98,511 858,831 193,853Specialized Banks29 Rural Development Bank 5,534 - - - - 191 - 2,345 - - - 0 2,99830 PHSME Specialized Bank Ltd. 1,918 - - - - - 519 1,399 - - - - -31 Angkor Capital Specialized Bank 446 - - - - - 249 197 - - - - -32 CAMKO Specialized Bank Ltd. 168 - - - - - 30 125 - - - 14 -33 Tomato Specialized Bank 8 - - - - - - - - - - - 834 First Investment Specialized Bank - - - - - - - - - - - - -35 ANCO Specialized Bank - - - - - - - - - - - - -Sub total 8,074 - - - - 191 798 4,066 - - - 14 3,005Total 23,968,635 382,147 548,254 2,636 1,693,851 156,135 7,180,156 11,618,194 186,760 1,046,288 98,511 858,846 196,858As Percentage of Total deposits 100.0% 1.59% 2.29% 0.01% 7.07% 0.65% 29.96% 48.47% 0.78% 4.37% 0.41% 3.58% 0.82%*F Foreign BranchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-22-

LOANS AND NON-PERFORMING LOANS (NPLs)As of December 31, 2011Table 13(millions of KHR)Dec-11Dec-10Loans 1 NPLs NPL/Loans Loans 1 NPLs NPL/LoansCommercial Banks1 Acleda Bank Plc. 4,102,821 7,299 0.18% 3,047,511 13,599 0.4%2 Canadia Bank Plc. 3,079,009 131,061 4.26% 2,140,373 140,095 6.5%3 Cambodian Public Bank Plc 2,484,017 89,715 3.61% 2,326,613 78,293 3.4%4 ANZ Royal Bank (Cambodia) Ltd. 1,332,837 50,520 3.79% 1,193,835 68,079 5.7%5 Bank for Investment & Development of Cambodia Plc 1,156,250 360 0.03% 606,506 - 0.0%6 May Bank, Phnom Penh Branch* 682,814 24,616 3.61% 367,835 14,815 4.0%7 Foreign Trade Bank of Cambodia 608,553 17,263 2.84% 527,311 17,030 3.2%8 Union Commercial Bank Plc. 589,874 2,593 0.44% 361,091 247 0.1%9 Advanced Bank of Asia Ltd. 379,903 13,652 3.59% 302,097 2,359 0.8%10 First Commercial Bank, Phnom Penh Branch* 379,811 4,226 1.11% 303,650 - 0.0%11 Vattanac Bank Ltd. 343,242 - 0.00% 230,171 32,381 14.1%12 OSK Indochina Bank 233,588 799 0.34% 113,346 393 0.3%13 Saigon Thuong Tin (Cambodia) Plc 229,563 160 0.07% 281,742 - 0.0%14 Phnom Penh Commercial Bank 174,337 - 0.00% 96,667 - 0.0%15 CIMB Bank 171,925 - 0.00% - - 0.0%16 Shinhan Khmer Bank 153,058 - 0.00% 125,767 - 0.0%17 Cambodia Asia Bank Ltd. 142,366 2,020 1.42% 99,437 - 0.0%18 Singapore Banking Corporation 138,281 1,893 1.37% 107,766 329 0.3%19 Maruhan Japan Bank Plc. 133,163 10,187 7.65% 56,971 - 0.0%20 Cambodian Commercial Bank Ltd. 126,722 - 0.00% 142,633 - 0.0%21 Krung Thai Bank Public Co. Ltd., P.P. Branch* 112,006 593 0.53% 101,887 - 0.0%22 Kookmin Bank Cambodia Plc 3 101,414 6,601 6.51% 66,230 - 0.0%23 Cambodia Mekong Bank Public Ltd. 87,481 22,701 25.95% 78,885 20,316 25.8%24 Agri Bank Cambodia Branch* 78,057 - 0.00% 56,030 - 0.0%25 Hwang DBS Commercial Bank Plc 75,668 112 0.15% 26,457 474 1.8%26 Bank of China Phnom Penh Branch* 24,626 - 0.00% - - -27 Bank of India Phnom Penh Branch* 16,769 - 0.00% 5,757 - 0.0%28 Booyoung Khmer Bank - - 0.00% 1,668 897 53.8%Sub total 17,138,155 386,371 2.25% 12,768,235 389,305 3.0%Specialized Banks29 Rural Development Bank 130,811 591 0.45% 110,127 593 0.5%30 Angkor Capital Specialized Bank 51,319 16,976 33.08% 67,028 89 0.1%31 CAMKO Specialized Bank Ltd. 44,259 888 2.01% 85,515 - 0.0%32 Anco Specialized Bank 39,261 14,614 37.22% 37,173 7,532 20.3%33 First Investment Specialized Bank 24,327 1,589 6.53% 20,790 2,709 13.0%34 PHSME Specialized Bank 24,102 2,053 8.52% 23,084 342 1.5%35 Tomato Specialized Bank 22,143 1,600 7.23% 21,828 - 0.0%Sub total 336,222 38,311 11.39% 365,544 11,265 3.1%* Foreign branches1 Gross Loans (excluding loans to government and banks)Note: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*17,474,377 424,682 2.43% 13,133,779 400,570 3.0%Loans and Non-Performing Loans (NPLs)Billions of KHR20,00018,00016,00014,00012,00010,0008,0006,0004,0002,000-9.5%7.5%2,4113,5796,3353.4% 3.7%9,80410,46713,13517,474180 340 218 360 457 401 4254.4%3.0%2.43%2005 2006 2007 2008 2009 2010 201110.0%9.0%8.0%7.0%6.0%5.0%4.0%3.0%2.0%1.0%0.0%Loans NPLs NPLs/Loans-23-

Table 14(millions of KHR)2011 2010 Growth Rate (%)Share Share 2011 over 2010Type of Industries1 Retail Trade 3,187,382 18.0% 2,369,452 17.9% 34.5%2 Wholesale Trade 2,545,005 14.4% 2,316,275 17.5% 9.9%3 Other Non-Financial Services 1,624,405 9.2% 1,309,328 9.9% 24.1%4 Manufacturing 1,621,658 9.2% 1,149,889 8.7% 41.0%5 Agriculture, Forestry and Fishing 1,569,397 8.9% 883,695 6.7% 77.6%6 Construction 1,316,915 7.4% 930,667 7.0% 41.5%7 Hotels and Restaurants 1,312,275 7.4% 1,287,877 9.7% 1.9%8 Mortgages, Owner-Occupied Housing only 1,096,184 6.2% 476,143 3.6% 130.2%9 Personal consumption 873,504 4.9% 683,655 5.2% 27.8%10 Real estate and Public utilities 564,804 3.2% 613,332 4.6% -7.9%11 Information Media and Telecom 527,975 3.0% 355,704 2.7% 48.4%12 Financial Institutions 323,384 1.8% 177,214 1.3% 82.5%13 Other 297,072 1.7% 165,468 1.3% 79.5%14 Rental and Operational Leasing Activities* 293,376 1.7% 98,589 0.7% 197.6%15 Transport and Storage 271,896 1.5% 251,858 1.9% 8.0%16 Utilities 208,689 1.2% 72,878 0.6% 186.4%17 Credit Cards 32,626 0.2% 23,508 0.2% 38.8%18 Mining and Quarrying 13,342 0.1% 55,404 0.4% -75.9%Total 17,679,890 100.0% 13,220,939 100.0% 33.7%Note: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB** Excluded Real Estate Leasing and RentalsTOTAL CREDITS CLASSIFIED BY TYPE OF INDUSTRYAs at December 31, 2011Financial Institutions1.8%Information Media and Telecom3.0%Real estate and Public utilities3.2%Other1.7%Rental and Operational LeasingActivities*1.7%Transport and Storage1.5%Retail Trade18.0%Utilities1.2%Credit Cards0.2%Mining and Quarrying0.1%Personal consumption4.9%Mortgages, Owner-OccupiedHousing only6.2%Wholesale Trade14.4%Hotels and Restaurants7.4%Construction7.4%Manufacturing9.2%Other Non-FinancialServices9.2%Agriculture, Forestry and Fishing8.9%Total Credits classified by type of business(billions of KHR)20,000Services18,000 Whole sale and Retail16,000 Manufacturing14,000 Real estate and Public utilities12,000 ConstructionAgriculture10,000Import8,00028%Personal 6,000 consumptionOther 4,0002,000 2,438-42%3,47280%6,26057%9,833 10,5407%13,22125%17,6802005 2006 2007 2008 2009 2010 201134%90%80%70%60%50%40%30%20%10%0%Total creditsGrowth rate-24-

Table 15TOTAL CREDITS CLASSIFIED BY TYPE OF BUSINESSAs at December 31, 2011(millions of KHR)TotalFinancialInstitutionsAgriculture,Forestry andFishingMining andQuarryingUtilitiesManufacturingConstructionWholesaleTradeRetail TradeHotels andRestaurantsTransportandStorageInformationmedia &Telecom.Rental andOperationalLeasingActivitiesRealEstateActivitiesOther Non-FinancialServicesPersonalEssentialsOtherLendingCommercial banks1 ACLEDA Bank 4,102,821 17,060 674,444 - 187,173 - - 646,908 1,011,163 55,803 - - - 25,218 782,392 625,662 77,0002 Canadia Bank Ltd. 3,081,029 14,835 265,811 5,234 230,397 23,028 204,556 384,989 610,103 450,668 30,506 140,026 141,421 58,623 71,565 449,268 -3 Cambodian Public Bank Plc 2,484,017 7,465 51,845 1,794 272,186 13,699 307,668 188,229 611,485 393,623 108,853 27,847 89,743 105,344 104,925 194,984 4,3264 ANZ Royal Cambodia 1,332,837 7,466 2,080 2,273 171,848 1,255 30,393 542,317 40,347 17,714 43,296 204,856 571 31,314 16,670 220,435 -5 BIDC 1,156,250 - 133,702 2,198 216,829 31,326 123,557 99,396 210,138 3,882 29,114 50,917 - 56,178 - 73,472 125,5406 Foreign Trade Bank of Cambodia 696,471 84,323 115,803 - 32,867 24,254 25,282 18,926 58,274 - - - - - 322,989 13,753 -7 May Bank 682,814 16,821 35,579 - 118,633 16,487 52,535 84,657 42,057 4,958 7,145 1,586 - 121,519 13,260 166,951 6268 Union Commercial Bank Plc. 589,874 24,839 15,853 - 88,416 28,006 159,919 79,325 65,408 31,145 494 10,708 6,152 37,911 13,738 22,780 5,1809 Advanced Bank of Asia Ltd. 379,903 - 9,617 1,273 25,633 1,146 18,988 17,525 76,926 34,752 2,069 14,220 1,218 4,058 93,506 78,974 -10 First Commercial Bank 379,811 - 5,534 - 54,683 - 29,952 119,601 18,239 25,587 2,690 1,423 - 15,301 87,724 4,040 15,03711 Vattanac Bank 343,242 - 13,735 - 43,348 - 55,315 58,691 51,787 54,774 20,614 - 1,865 13,892 24,771 4,275 17412 OSK Indochina Bank 233,588 851 3,363 - 37,244 173 9,151 8,264 52,359 64,164 3,813 3,287 22,593 - 3,788 24,538 -13 Saigon Thuong Tin (Cambodia) Plc 229,563 - - - 40,779 406 19,003 51,682 53,145 6,934 6,494 122 - - - 3,732 47,26614 Maruhan Japan Bank Plc. 198,663 65,582 26,558 - 7,175 4,018 21,260 40,401 298 30,523 1,514 - 632 - - 703 -15 Phnom Penh Commercial Bank 175,905 6,060 1,686 - 18,866 543 25,268 23,026 36,792 27,486 3,439 - 14,395 9,543 3,880 4,879 4116 CIMB Bank Plc. 171,925 3,881 - - 5,657 - 14,344 22,227 18,175 13,959 3,351 23,603 - 36,411 10,259 20,059 -17 Shinhan Khmer Bank 153,058 - 11,968 569 33,754 844 29,665 11,307 7,126 32,369 5,034 805 - - 17,630 1,988 -18 Cambodia Asia Bank Ltd. 142,366 - - - - - 131,875 - - - - - - - - 10,490 -19 Singapore Banking Corporation Ltd. 138,281 1,794 224 - 8,012 3,896 10,501 242 98,369 101 2,855 - - - - 6,854 5,43220 Cambodian Commercial Bank Ltd. 126,722 - - - - - 807 - 88,526 33,754 - - - - 2,984 652 -21 Krung Thai Bank Public Co. Ltd. 112,006 - 48,478 - 1,091 36,399 14,524 10,171 1,344 - - - - - - - -22 KOOKMIN Bank Cambodia Plc. 101,414 - 11,531 - - - 5,409 38,062 - 6,747 - - - 14,955 24,709 - -23 Cambodia Mekong Bank Ltd. 87,481 - 9,115 - 4,118 18,700 145 10,233 964 2,215 - - - 18,026 20,595 1,426 1,94524 AGRI Bank Cambodia Branch 78,057 - 3,433 - 6,467 - 6,719 11,306 - 6,177 71 40,437 - - - 3,435 1225 HwangDBS 75,667 2,423 562 - 495 146 1,631 6,965 8,188 5,658 503 967 10,429 3,555 79 19,573 14,49226 Bank of India Phnom Penh Branch 56,743 39,973 4,050 - 5,604 121 2,816 2,290 - - - - - - - 1,887 -27 Bank of China Phnom Penh Branch 24,626 - - - 5,447 - - 14,954 - - - - - - 4,225 - -28 Booyoung Khmer Bank - - - - - - - - - - - - - - - - -Sub total 17,335,136 293,374 1,444,971 13,342 1,616,723 204,448 1,301,283 2,491,694 3,161,212 1,302,992 271,858 520,802 289,020 551,847 1,619,688 1,954,809 297,072Specialized banks29 Rural Development Bank 139,343 28,430 108,205 - - 30 - - - - - - - - - 2,679 -30 Angkor Capital Specialized Bank 51,319 - - - - - - 51,319 - - - - - - - - -31 CAMKO Specialized Bank Ltd. 44,259 - - - - - 3,479 - - - - - - 8,923 124 31,734 -32 ANCO Specialized Bank 39,261 1,016 11,543 - 893 3,421 1,224 - 7,740 5,281 - - - 906 - 7,237 -33 First Investment Specialized Bank 24,327 - 1,335 - 1,581 140 3,103 326 3,763 1,165 38 7,172 - - 1,007 4,698 -34 PHSME Specialized Bank Ltd. 24,102 442 1,327 - 2,151 651 5,671 - 6,687 37 - - 87 3,128 3,545 376 -35 Tomato Specialized Bank 22,143 122 2,017 - 311 - 2,156 1,666 7,980 2,800 - - 4,269 - 41 782 -Sub total 344,754 30,010 124,426 - 4,935 4,241 15,632 53,311 26,171 9,284 38 7,172 4,356 12,957 4,717 47,505 -Total17,679,890 323,384 1,569,397 13,342 1,621,658 208,689 1,316,915 2,545,005 3,187,382 1,312,275 271,896 527,975 293,376 564,804 1,624,405 2,002,314 297,072* Foreign branchesNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*100.0% 1.8% 8.9% 0.1% 9.2% 1.2% 7.4% 14.4% 18.0% 7.4% 1.5% 3.0% 1.7% 3.2% 9.2% 11.3% 1.7%-25-

Table 16LOANS AS PERCENTAGE OF DEPOSITSAs of December 31, 20112011 2010(millions of KHR)Deposits 1 Loans 2 Loans to depositsratioDeposits 1 Loans 2 Loans todeposits ratioCommercial Banks1 Acleda Bank Plc. 4,492,049 4,102,821 91% 3,606,757 3,047,511 84%2 Canadia Bank Plc. 3,974,422 3,079,009 77% 3,101,796 2,140,373 69%3 Cambodian Public Bank Plc 3,136,978 2,484,017 79% 3,231,618 2,326,613 72%4 ANZ Royal Bank (Cambodia) Ltd. 2,306,093 1,332,837 58% 2,059,786 1,193,835 58%5 Foreign Trade Bank of Cambodia 1,315,089 608,553 46% 1,076,071 527,311 49%6 Union Commercial Bank Plc. 778,639 589,874 76% 631,136 361,091 57%7 Advanced Bank of Asia Ltd. 659,691 379,903 58% 477,593 302,097 63%8 May Bank, Phnom Penh Branch* 606,716 682,814 113% 788,443 367,835 47%9 Vattanac Bank Ltd. 580,336 343,242 59% 660,287 230,171 35%10 Bank of China Phnom Penh Branch* 549,437 24,626 4% - - -11 Bank for Investment & Development of Cambodia Plc. 464,539 1,156,250 249% 394,786 606,506 154%12 Cambodian Commercial Bank Ltd. 337,670 126,722 38% 291,111 142,633 49%13 First Commercial Bank, Phnom Penh Branch* 294,051 379,811 129% 163,477 303,650 186%14 Maruhan Japan Bank Plc. 211,313 133,163 63% 164,965 56,971 35%15 CIMB Bank 200,333 171,925 86% 12,214 - 0%16 Singapore Banking Corporation 193,807 138,281 71% 167,513 107,766 64%17 OSK Indochina Bank 188,624 233,588 124% 95,594 113,346 119%18 Cambodia Asia Bank Ltd. 112,929 142,366 126% 76,788 99,437 129%19 Agri Bank Cambodia Branch* 101,788 78,057 77% 14,882 56,030 377%20 Shinhan Khmer Bank 91,853 153,058 167% 93,519 125,767 134%21 Phnom Penh Commercial Bank 87,836 174,337 198% 44,254 96,667 218%22 Cambodia Mekong Bank Public Ltd. 75,379 87,481 116% 64,928 78,885 121%23 Kookmin Bank Cambodia Plc 3 65,734 101,414 154% 37,238 66,230 178%24 Krung Thai Bank Public Co. Ltd., P.P. Branch* 64,030 112,006 175% 50,408 101,887 202%25 Saigon Thuong Tin (Cambodia) Plc 57,310 229,563 401% 63,744 281,742 442%26 Hwang DBS Commercial Bank Plc 12,466 75,668 607% 12,935 26,457 205%27 Booyoung Khmer Bank 3,477 - 0% 634 1,668 263%28 Bank of India Phnom Penh Branch* 3,383 16,769 496% 4,137 5,757 139%Sub-total 20,965,968 17,138,155 81.7% 17,386,611 12,768,235 73.4%Specialized Banks29 Rural Development Bank 5,343 130,811 2448% 5,122 110,127 2150%30 PHSME Specialized Bank 1,918 24,102 1257% 409 23,084 5651%31 Angkor Capital Specialized Bank 446 51,319 11494% 25,742 67,028 260%32 CAMKO Specialized Bank Ltd. 168 44,259 26348% 61,238 85,515 140%33 Tomato Specialized Bank 8 22,143 289832% 85 21,828 25804%34 First Investment Specialized Bank - 24,327 - 18 20,790 116601%35 Anco Specialized Bank - 39,261 - - 37,173 0%Sub-total 7,883 336,222 4265.0% 92,613 365,544 394.7%Total 20,973,851 17,474,377 83.3% 17,479,224 13,133,779 75.1%* Foreign branches1 Excluding deposits from Banks and Other Financial Institutions (OFIs), both local and abroad.2 Gross Loans (excluding loans to government & banks)Note: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*Loans to Deposits Ratio25,000120%Billions of KHR20,00015,00010,0005,000-3,92760%2,3475,68763% 64%3,5799,9226,33610,28795%9,80413,84276% 75%10,46717,47913,13520,97483%17,474100%80%60%40%20%0%2005 2006 2007 2008 2009 2010 2011Deposits Loans Loans to Deposits Ratio-26-

Number of ATM terminals, ATM Cards, Debit Cards, and Credit CardsAs of December 31, 2011Table 17ATM terminals POS** Debit Cards Credit CardsCommercial Banks1 ACLEDA Bank Plc. 134 640 504,173 -2 ANZ Royal Bank (Cambodia) Ltd. 127 671 92,011 3,9413 Canadia Bank Ltd. 68 863 41,490 3,9534 Singapore Banking Corporation 62 359 17,058 1,8895 Cambodian Public Bank Plc 40 293 53,258 4,7056 Advanced Bank of Asia Ltd. 32 115 12,132 2147 Vattanac Bank 21 16 356 1708 Foreign Trade Bank of Cambodia 15 12 5,013 9069 Maybank Phnom Penh Branch* 12 - 4,301 -10 Cambodia Mekong Bank Public Ltd. 12 478 - 1,19711 OSK Indochina Bank Ltd 11 - 10,764 -12 Union Commercial Bank Plc. 10 147 2,285 1,51613 Phnom Penh Commercial Bank 10 - 9,241 -14 CIMB Bank Plc. 10 - 1,575 -15 Bank for Investment and Development of Cambodia 5 200 - 2,86216 Shinhan Khmer Bank 4 - - -17 Saigon Thuong Tin (Cambodia) Plc 4 - - -18 HwangDBS Commercial Bank Plc. 4 - 1,385 -19 Cambodia Asia Bank Ltd. 3 - - -20 Maruhan Japan Bank Plc 2 - 2,353 -21 KOOKMIN BANK CAMBODIA PLC 2 - 4,481 -22 Cambodian Commercial Bank Ltd. - - - -23 Krung Thai Bank Pulic Co.Ltd. P.Penh Branch* - - - -24 First Commercial Bank Phnom Penh Branch* - - - -25 Booyoung Khmer Bank - - - -26 Bank of India Phnom Penh Branch - - - -27 Vietnam Bank for Agriculture and Rural Development* - - - -28 Bank of China Phnom Penh Branch - - - -Sub-total 588 3,794 761,876 21,353Specialized Banks29 Anco Specialized Bank - - - -30 Angkor Capital Specialized Bank - - - -31 Camko Specialized Bank - - - -32 First Inverstment Specialized Bank - - - -33 PHSME Specialized Bank Ltd. - - - -34 Rural Development Bank - - - -35 Tomato Specialized Bank - - - -Sub-total - - - -Total 588 3,794 761,876 21,353* Foreign branches** Point of Sale terminalNote: As reported by banks (Unaudited) and excluded Mega Bank*, ICBC*, MB*-27-

Number of Offices of Micro Finance InstitutionsAs of December 31, 2011Table 18Microfinance Deposit Taking Institutions (MDIs)TotalPhnom PenhHead OfficeProvinceProvincialBranchBranch OfficeDistrictBranch1 Hattakaksekar 307 1 18 2882 PRASAC 207 1 24 1823 Angkor Microherhvatho Kampuchea 206 1 21 1844 SATHAPANA 192 1 23 1685 AMRET 128 1 15 1126 Vision Fund Cambodia 121 1 12 1087 KREDIT 113 1 11 101Total MDIs1,274 7 - 124 1,143Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 124 1 17 1069 SEILANITHIH 65 1 7 5710 Chamroeun 61 1 9 5111 SAMIC 41 1 7 3312 Green Central Micro Finance 33 1 6 2613 Cambodian Business Intergrate in Rural Development 30 1 5 2414 Intean Poalroath Rongroeung 30 1 5 2415 Entean Akpevath Pracheachun 27 1 6 2016 Cam Capital 22 1 2 1917 Camma Microfinance 20 1 3 1618 MAXIMA 18 1 2 1519 Malis Finance 16 1 1 1420 Y C P Microfinance 15 1 2 1221 Angkor ACE Star Credit 15 1 4 1022 Khemarak Microfinance 15 1 2 1223 First Finance 14 1 2 1124 Samrithisak Microfinance 14 1 2 1125 Prime MF Microfinance 13 1 2 1026 Sonatra 12 1 1 1027 Active People 11 1 1 928 Farmer Union Development Fund 10 1 4 529 AEON 10 1 1 830 Farmer Finance 4 1 1 2Total MFIs620 22 1 92 505Total MDIs and MFIs1,894 29 1 216 1,648-28-

Number of staffAs of December 31, 2011Table 19Microfinance Deposit Taking Institutions (MDIs)2011 2010 Change%10-111 AMRET AMRET 1,693 1,297 31%2 PRASAC PRASAC 1,501 1,440 4%3 SATHAPANA SATHAPANA 1,339 965 39%4 HATTAKAKSEKAR Hattakaksekar 1,096 776 41%5 AMK Angkor Microherhvatho Kampuchea 973 844 15%6 KREDIT CREDIT 717 586 22%7 VFC Vision Fund Cambodia 700 627 12%Total Staff of MDIs 8,019 6,535 23%Microfinance Institutions (MFIs)8 TPC Thaneakea Phum Cambodia 545 457 19%9 SEILANITHIH SEILANITHIH 207 187 11%10 CHAMROEUN Chamroeun Microfinance Limited 163 - -11 SAMIC SAMIC 146 141 4%12 IPR Intean Poalroath Rongroeung 93 75 24%13 CBIRD Cambodian Business Intergrate in Rural Development 68 64 6%14 GCMF Green Central Micro Finance 67 42 60%15 MAXIMA MAXIMA 65 55 18%16 CAM CAPITAL Cam Capital 49 20 145%17 MALIS Malis Finance Ltd 44 - -18 SAMRITHISAK Samrithisak Microfinance 40 40 -19 SONATRA Sonatra Microfinance Institution Plc 34 - -20 YCP Y C P Microfinance 29 24 21%21 AEON AEON Microfinance (Cambodia) Private Company Limited 27 - -22 PRIME Prime MF Microfinance Institution LTD 26 - -23 KHEMARAK Khemarak Limited 26 - -24 AASC Angkor ACE Star Credit 24 17 41%25 EAP Entean Akpevath Pracheachun 18 18 0%26 CAMMA Camma Microfinance 17 14 21%27 FIRST FINANCE First Finance 14 11 27%28 FUDF Farmer Union Development Fund 8 8 0%29 FARMER FINANCE Farmer Finance 8 7 14%30 ACTIVE PEOPLE Active People Ltd 7 - -Total Staff of MFIs 1,725 1,180 46%Total 9,744 7,715 26%Total Employee of Each MFIs in 20112,0001,5001,0001,6931,5011,3391,096 973717 700545207 163 146 93 68 67 65 49 44 40 34 29 27 26 26 24 18 17 14 8 8 7500-12,00010,0008,0006,0004,0002,000-40%47%Total Employee of All MFIsAs at December 201122% 23%3,511 5,148 6,330 7,715 97442007 2008 2009 2010 201126%50%40%30%20%10%0%Number of StaffChange-29-

Table 20COMPARISION OF TOTAL ASSETSAs of December 31,20112011 2010(millions of KHR)Growth Rate (%)Amount Share Amount Share 2011/2010Microfinance Deposit Taking Institutions (MDIs)1 PRASAC 629,015 20.79% 455,272 22.19% 38.16%2 AMRET 482,109 15.94% 355,983 17.35% 35.43%3 SATHAPANA 436,195 14.42% 270,497 13.19% 61.26%4 Hattakaksekar 350,431 11.58% 193,084 9.41% 81.49%5 Angkor Microherhvatho Kampuchea 276,335 9.13% 177,918 8.67% 55.32%6 KREDIT 198,857 6.57% 147,233 7.18% 35.06%7 Vision Fund Cambodia 178,689 5.91% 148,672 7.25% 20.19%Total MDIs 2,551,631 84.35% 1,748,659 85.24% 45.92%Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 185,573 6.13% 127,899 6.23% 45.09%9 Cam Capital 48,290 1.60% 22,185 1.08% 117.67%10 SEILANITHIH 35,391 1.17% 33,828 1.65% 4.62%11 SAMIC 32,808 1.08% 26,383 1.29% 24.35%12 Intean Poalroath Rongroeung 22,466 0.74% 22,493 1.10% -0.12%13 Green Central Micro Finance 20,640 0.68% 12,649 0.62% 63.18%14 CHAMROEUN 17,607 0.58% - - -15 First Finance 15,336 0.51% 9,341 0.46% 64.18%16 MALIS 12,448 0.41% - - -17 Entean Akpevath Pracheachun 11,356 0.38% 10,967 0.53% 3.54%18 MAXIMA 11,179 0.37% 8,882 0.43% 25.86%19 Samrithisak Microfinance 10,783 0.36% 5,711 0.28% 88.81%20 KHEMARAK 9,895 0.33% - - -21 Farmer Union Development Fund 8,478 0.28% 8,657 0.42% -2.06%22 Cambodian Business Intergrate in Rural Development 8,111 0.27% 6,001 0.29% 35.16%23 Angkor ACE Star Credit 4,816 0.16% 3,775 0.18% 27.58%24 AEON 4,211 0.14% - - -25 SONATRA 3,897 0.13% - - -26 PRIME 3,631 0.12% - - -27 Camma Microfinance 2,591 0.09% 1,314 0.06% 97.16%28 Farmer Finance 1,880 0.06% 1,345 0.07% 39.75%29 Y C P Microfinance 1,245 0.04% 1,395 0.07% -10.78%30 Active People 819 0.03% - - -Total MFIs 473,452 15.65% 302,825 14.76% 56.35%Total 3,025,083 100% 2,051,484 100% 47.46%Growth of Total AssetsMillion of KHR3,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,000-73%726,35887%1,361,4491,524,98312%2,051,48435%3,025,08347%100%80%60%40%20%0%2007 2008 2009 2010 2011Total AssetAsset Growth-30-

Table 21SHARE OF PAID-UP CAPITALAs of December 31, 2011(millions of KHR)Foreign share Cambodian share Total Paid-upShare(%) Amount paid Share(%) Amount paid CapitalMarketShareMicrofinance Deposit Taking Institutions (MDIs)1 SATHAPANA 90% 33,162 10% 3,595 36,757 12.6%2 Vision Fund Cambodia 100% 35,969 - - 35,969 12.3%3 Angkor Microherhvatho Kampuchea 99% 34,069 1% 510 34,579 11.8%4 Hattakaksekar 76% 12,314 24% 3,991 16,305 5.6%5 KREDIT 100% 15,473 - - 15,473 5.3%6 PRASAC 90% 13,863 10% 1,540 15,403 5.3%7 AMRET 98% 11,133 2% 246 11,379 3.9%Total MDIs 94% 155,982 6% 9,882 165,864 56.7%Microfinance Institutions (MFIs)8 Green Central Micro Finance 100% 14,137 - - 14,137 4.8%9 Intean Poalroath Rongroeung 34% 4,198 66% 8,277 12,475 4.3%10 Malis Finance 100% 12,117 - - 12,117 4.1%11 Entean Akpevath Pracheachun - - 100% 10,098 10,098 3.5%12 Samrithisak Microfinance - - 100% 10,098 10,098 3.5%13 Khemarak Microfinance - - 100% 10,098 10,098 3.5%14 First Finance 85% 7,884 15% 1,363 9,247 3.2%15 Thaneakea Phum Cambodia 90% 5,547 10% 629 6,176 2.1%17 Cam Capital 96% 5,816 4% 242 6,059 2.1%18 SAMIC 48% 2,504 52% 2,747 5,251 1.8%19 SEILANITHIH 40% 1,616 60% 2,423 4,039 1.4%20 Angkor ACE Star Credit 100% 4,039 - - 4,039 1.4%20 Sonatra 6% 242 94% 3,797 4,039 1.4%21 AEON 100% 4,039 - - 4,039 1.4%22 MAXIMA - - 100% 3,231 3,231 1.1%23 Prime MF Microfinance 100% 2,020 - - 2,020 0.7%24 Chamroeun 100% 1,913 - - 1,913 0.7%25 Camma Microfinance - - 100% 1,414 1,414 0.5%26 BORRIBO Microfinance Institution PLC - - 100% 1,212 1,212 0.4%27 Active People 85% 1,030 15% 182 1,212 0.4%28 Farmer Union Development Fund 33% 400 67% 800 1,200 0.4%29 Bayon Credit Limited - - 100% 1,010 1,010 0.3%30 Cambodian Business Intergrate in Rural Development - - 100% 521 521 0.2%31 Farmer Finance 100% 800 - - 800 0.3%32 Y C P Microfinance - - 100% 323 323 0.1%Total MFIs 54% 68,302 46% 58,462 126,764 43%Total 77% 224,284 23% 68,343 292,628 100%15.0%12.6%12.3%11.8%Market Share of Paid-up Capital10.0%5.0%0.0%5.6%5.3%5.3%3.9%4.8%4.3%4.1%3.5%3.5%3.5%3.2%2.1%2.1%1.8%1.4%1.4%1.4%1.4%1.1%0.7%0.7%0.5%0.4%0.4%0.4%0.3%0.2%0.3%0.1%FOREIGN AND CAMBODIAN SHARE OF PAID UP CAPITAL100%0%27% 26% 23% 23% 23%73% 74% 77% 77% 77%2007 2008 2009 2010 2011Foreign share % Cambodian share %-31-

Table 22COMPARATIVE STATEMENT OF CONDITIONAs of December 31, 2011(millions of KHR)Cash and Balance withNBC and Other BanksLoans and Advances toCustomersPrepayment and shortterm ReceiableLong Term InvestmentProperty andEquipmentOther AssetsTotal AssetsMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 9,870 609,367 2,362 114 7,128 174 629,0152 AMRET 63,960 405,216 6,225 101 5,820 787 482,1093 SATHAPANA 29,602 385,779 4,863 101 15,850 - 436,1954 Hattakaksekar 34,173 305,598 1,510 87 8,478 585 350,4315 Angkor Microherhvatho Kampuchea 74,054 193,313 2,660 101 6,208 - 276,3356 KREDIT 12,280 182,234 1,732 225 2,043 344 198,8577 Vision Fund Cambodia 21,315 154,027 1,308 61 1,979 - 178,689Sub Total 245,254 2,235,533 20,659 789 47,506 1,890 2,551,631Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 46,571 136,037 1,347 61 1,533 25 185,5739 Cam Capital 1,253 45,338 341 - 1,166 192 48,29010 SEILANITHIH 987 33,609 464 50 281 - 35,39111 SAMIC 968 30,460 22 78 267 1,013 32,80812 Intean Poalroath Rongroeung 2,698 18,768 435 - 565 - 22,46613 Green Central Micro Finance 804 18,986 93 20 736 1 20,64014 Chamroeun 3,933 13,087 378 - 209 - 17,60715 First Finance 1,549 13,463 100 5 217 2 15,33617 Malis Finance 1,215 10,017 - - 724 493 12,44818 Entean Akpevath Pracheachun 4,358 6,796 13 40 139 10 11,35619 MAXIMA 501 10,434 59 67 103 16 11,17920 Samrithisak Microfinance 1,596 8,892 - - 279 16 10,78320 Khemrak 6,908 2,673 54 - 260 0 9,89521 Farmer Union Development Fund 3,245 5,165 - - 68 - 8,47822 Cambodian Business Intergrate in Rural Development 687 6,962 34 - 347 81 8,11123 Angkor ACE Star Credit 1,365 3,105 163 - 183 - 4,81624 AEON 3,620 132 145 - 315 - 4,21125 Sonatra 2,051 1,658 1 - 187 - 3,89726 PRIME 191 3,184 1 - 211 43 3,63127 Camma Microfinance 215 2,321 1 - 38 17 2,59128 Farmer Finance 239 1,304 8 4 305 20 1,88029 Y C P Microfinance 616 577 1 - 51 - 1,24530 Active People 76 697 1 - 29 17 819Sub Total 85,645 373,665 3,658 325 8,213 1,947 473,452TOTAL 330,899 2,609,198 24,317 1,114 55,719 3,837 3,025,083-32-

Table 23PERCENTAGE DISTRIBUTION OF ASSETS OF INDIVIDUAL MFIsAs of December 31, 2011Cash and Balance withNBC and Other BanksLoans and Advances toCustomersPrepayment and shortterm ReceivableLong Term InvestmentProperty andEquipmentOther AssetsTotal AssetsMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 1.57 96.88 0.38 0.02 1.13 0.03 1002 AMRET 13.27 84.05 1.29 0.02 1.21 0.16 1003 SATHAPANA 6.79 88.44 1.11 0.02 3.63 - 1004 Hattakaksekar 9.75 87.21 0.43 0.02 2.42 0.17 1005 Angkor Microherhvatho Kampuchea 26.80 69.96 0.96 0.04 2.25 - 1006 KREDIT 6.18 91.64 0.87 0.11 1.03 0.17 1007 Vision Fund Cambodia 11.93 86.20 0.73 0.03 1.11 - 100Sub Total 9.61 87.61 0.81 0.03 1.86 0.07 100Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 25.10 73.31 0.73 0.03 0.83 0.01 1009 Cam Capital 2.59 93.89 0.71 - 2.42 0.40 10010 SEILANITHIH 2.79 94.96 1.31 0.14 0.79 - 10011 SAMIC 2.95 92.84 0.07 0.24 0.82 3.09 10012 Intean Poalroath Rongroeung 12.01 83.54 1.94 - 2.52 - 10013 Green Central Micro Finance 3.90 91.98 0.45 0.10 3.56 0.01 10014 Chamroeun 22.34 74.33 2.15 - 1.19 - 10015 First Finance 10.10 87.78 0.65 0.03 1.41 0.01 10016 Malis Finance 9.76 80.47 - - 5.81 3.96 10017 Entean Akpevath Pracheachun 38.38 59.84 0.11 0.36 1.22 0.09 10018 MAXIMA 4.48 93.34 0.53 0.60 0.92 0.14 10019 Samrithisak Microfinance 14.80 82.46 - - 2.59 0.15 10020 Khemrak 69.81 27.01 0.54 - 2.63 0.00 10021 Farmer Union Development Fund 38.27 60.92 - - 0.81 - 10022 Cambodian Business Intergrate in Rural Development 8.47 85.84 0.41 - 4.28 1.00 10023 Angkor ACE Star Credit 28.33 64.47 3.39 - 3.80 - 10024 AEON 85.95 3.14 3.43 - 7.48 - 10025 Sonatra 52.62 42.55 0.03 - 4.80 - 10026 PRIME 5.27 87.70 0.02 - 5.82 1.19 10027 Camma Microfinance 8.29 89.59 0.02 - 1.45 0.65 10028 Farmer Finance 12.70 69.36 0.43 0.21 16.22 1.07 10029 Y C P Microfinance 49.49 46.36 0.07 - 4.09 - 10030 Active People 9.26 85.04 0.10 - 3.53 2.08 100Sub Total 18.09 78.92 0.77 0.07 1.73 0.41 100Total 10.94 86.25 0.80 0.04 1.84 0.13 100-33-

COMPARATIVE STATEMENT OF CONDITIONAs of December 31, 2011Table 24Customer's depositShareholder's Equity(millions of KHR)CompulsorySavingVoluntarySavingInterestPayableAccountpayableand OthersLiabilitiesAccruedExpensesandProvisionLoansPayableDeferredRevenueSuspenseClearing andinterbranchAccountOtherLiabilitiesPaid upCapitalPremiumon ShareCapitalHybridCapitalInvestmentReserves andAppropriationsRetainedand CurrentProfit/LossTotal Liabilitiesand EquityMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC - 24,118 323 9,349 19,957 434,868 - (3) 248 15,403 - 45,658 8,925 70,169 629,0152AMRET - 170,074 3,654 6,897 14,031 175,690 - (70) 275 11,379 5,536 4,040 7,234 83,377 482,1163 SATHAPANA 632 156,453 990 8,024 4,611 184,984 - - 21 36,757 707 9,343 - 33,673 436,1954 Hattakaksekar 7,764 55,954 307 4,829 8,061 192,362 378 27 - 16,305 22,278 11,024 1,097 30,046 350,4315 Angkor Microherhvatho Kampuchea 2 21,544 349 2,111 4,534 188,512 - - 3,054 34,579 96 - 3,304 18,251 276,3356 KREDIT - 13,871 359 480 7,734 135,794 262 628 178 15,473 - 9,314 941 13,817 198,8517 Vision Fund Cambodia - 2,980 61 4,939 2,977 117,999 - 173 - 35,969 - - - 13,593 178,689Sub Total 8,397 444,993 6,043 36,630 61,904 1,430,209 640 755 3,776 165,864 28,616 79,378 21,501 262,926 2,551,632Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 156 136 - 306 4,683 147,713 12 - - 6,176 - - 1,956 24,434 185,5739 Cam Capital - - - - 288 38,479 - 150 205 6,059 - - 2,827 282 48,29010 SEILANITHIH 1,645 - - 1,361 1,286 22,589 138 - 172 4,039 - 1,881 63 2,216 35,39111 SAMIC 71 - - 468 1,217 20,759 - 348 1,529 5,251 - - 518 2,647 32,80812 Intean Poalroath Rongroeung - - - 1,438 77 3,837 - - - 12,475 - - - 4,638 22,46613 Green Central Micro Finance - - - 2 9 5,655 - - - 14,137 - - - 837 20,64014 Chamroeun 1,685 1,839 140 1,909 - 8,977 - - - 1,913 - - - 1,145 17,60715 Farmer Finance 6 - - - - 1,090 - - - 800 - - - (16) 1,88016 First Finance - - - 16 94 5,314 - - 12 9,247 - - - 654 15,33617 Malis Finance - - - 2 11 1,010 - - 4 12,117 - - - (696) 12,44818 Entean Akpevath Pracheachun - - - 16 132 - - 11 6 10,098 - - - 1,094 11,35619 MAXIMA - - - 150 35 7,003 - - 282 3,231 - - 143 335 11,17920 Samrithisak Microfinance - - - 1 122 - - - 1 10,098 - - - 562 10,78321 Khemarak Microfinance - - - 8 1 - - - - 10,098 - - - (211) 9,89522 Farmer Union Development Fund - - - - 207 4,443 - - - 1,200 - - - 2,628 8,47823 Cambodian Business Intergrate in Rural Development 544 - - - 129 5,952 - 8 - 521 29 202 13 712 8,11124 Angkor ACE Star Credit - - - 157 - 727 - - - 4,039 - - - (107) 4,81625 AEON - - - 531 9 - - 25 - 4,039 - - - (393) 4,21126 Sonatra - - - - - - - - - 4,039 - - - (142) 3,89727 Prime MF Microfinance - - - - 3 1,810 - - - 2,020 - - - (202) 3,63128 Camma Microfinance - - - 15 17 1,212 - 26 - 1,414 - - - (92) 2,59129 Y C P Microfinance - - - - - 1,212 - - - 323 - - - (290) 1,24530 Active People - - - 7 111 745 - - 2 1,212 - - - (1,257) 819Sub Total 4,107 1,975 140 6,387 8,434 278,528 150 568 2,212 124,542 29 2,083 5,519 38,778 473,451TOTAL 12,504 446,968 6,183 43,016 70,338 1,708,737 790 1,323 5,989 290,406 28,645 81,461 27,020 301,704 3,025,083-34-

Table 25PERCENTAGE DISTRIBUTION OF LIABILITIES AND EQUITY OF INDIVIDUAL MFIsAs of December 31, 2011Customer's depositShareholder's EquityCompulsorySavingVoluntarySavingInterestPayableAccountpayableand OthersLiabilitiesAccruedExpensesandProvisionLoansPayableDeferredRevenueSuspenseClearing andinterbranchAccountOtherLiabilitiesPaid upCapitalPremiumon ShareCapitalHybridCapitalInvestmentReserves andAppropriationsRetainedand CurrentProfit/LossTOTALLiabilities andEquityMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC - 3.83 0.05 1.49 3.17 69.13 - (0.00) 0.04 2.45 - 7.26 1.42 11.16 1002AMRET - 35.28 0.76 1.43 2.91 36.44 - (0.01) 0.06 2.36 1.15 0.84 1.50 17.29 1003 SATHAPANA 0.14 35.87 0.23 1.84 1.06 42.41 - - 0.00 8.43 0.16 2.14 - 7.72 1004 Hattakaksekar 2.22 15.97 0.09 1.38 2.30 54.89 0.11 0.01 - 4.65 6.36 3.15 0.31 8.57 1005 Angkor Microherhvatho Kampuchea 0.00 7.80 0.13 0.76 1.64 68.22 - - 1.11 12.51 0.03 - 1.20 6.60 1006 KREDIT - 6.98 0.18 0.24 3.89 68.29 0.13 0.32 0.09 7.78 - 4.68 0.47 6.95 1007 Vision Fund Cambodia - 1.67 0.03 2.76 1.67 66.04 - 0.10 - 20.13 - - - 7.61 100Sub Total 0.33 17.44 0.24 1.44 2.43 56.05 0.03 0.03 0.15 6.50 1.12 3.11 0.84 10.30 100Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 0.08 0.07 - 0.16 2.52 79.60 0.01 - - 3.33 - - 1.05 13.17 1009 Cam Capital - - - - 0.60 79.68 - 0.31 0.42 12.55 - - 5.85 0.58 10010 SEILANITHIH 465 4.65 - - 385 3.85 363 3.63 63.83 039 0.39 - 049 0.49 11.41 - 531 5.31 018 0.18 626 6.26 10011 SAMIC 0.22 - - 1.43 3.71 63.27 - 1.06 4.66 16.00 - - 1.58 8.07 10012 Intean Poalroath Rongroeung - - - 6.40 0.34 17.08 - - - 55.53 - - - 20.65 10013 Green Central Micro Finance - - - 0.01 0.04 27.40 - - - 68.49 - - - 4.06 10014 Chamroeun 9.57 10.44 0.80 10.84 - 50.99 - - - 10.86 - - - 6.50 10015 Farmer Finance 0.32 - - - - 57.99 - - - 42.56 - - - (0.87) 10016 First Finance - - - 0.11 0.61 34.65 - - 0.08 60.29 - - - 4.26 10017 Malis Finance - - - 0.02 0.09 8.11 - - 0.03 97.34 - - - (5.59) 10018 Entean Akpevath Pracheachun - - - 0.14 1.16 - - 0.09 0.06 88.92 - - - 9.63 10019 MAXIMA - - - 1.35 0.32 62.64 - - 2.52 28.90 - - 1.28 2.99 10020 Samrithisak Microfinance - - - 0.01 1.13 - - - 0.01 93.64 - - - 5.21 10021 Khemarak Microfinance - - - 0.08 0.01 - - - - 102.04 - - - (2.13) 10022 Farmer Union Development Fund - - - - 2.45 52.40 - - - 14.15 - - - 31.00 10023 Cambodian Business Intergrate in Rural Development 6.71 - - - 1.59 73.39 - 0.10 - 6.42 0.35 2.49 0.16 8.78 10024 Angkor ACE Star Credit - - - 3.27 - 15.10 - - - 83.86 - - - (2.23) 10025 AEON - - - 12.60 0.22 - - 0.60 - 95.91 - - - (9.33) 10026 Sonatra - - - - - - - - - 103.63 - - - (3.63) 10027 Prime MF Microfinance - - - - 0.09 49.84 - - - 55.62 - - - (5.55) 10028 Camma Microfinance - - - 0.59 0.64 46.77 - 0.98 - 54.57 - - - (3.55) 10029 Y C P Microfinance - - - - - 97.36 - - - 25.96 - - - (23.32) 10030 Active People - - - 0.84 13.61 90.94 - - 0.20 147.92 - - - (153.50) 100Sub Total 0.87 0.42 0.03 1.35 1.78 58.83 0.03 0.12 0.47 26.31 0.01 0.44 1.17 8.19 100Total 0.41 14.78 0.20 1.42 2.33 56.49 0.03 0.04 0.20 9.60 0.95 2.69 0.89 9.97 100-35-

PROFIT AND LOSS STATEMENTFor Year Ended December 31, 2011Table 26(millions of KHR)InterestincomeInterestExpensesNet InterestIncomeNon-interestincomeForeignExchageGainOtherIncomeOperationincomeProgramExpenseGeneraladminitrativeExpensenTaxesOthersChargeLoan andInterestlossProvision(Net)Profit from operationGrantIncomeExtraordinaryItemProfit beforeTaxesTax on profitNet Profit &Lossfor 12 months1 2 3=1-2 4 5 6 7=3+4+5+6 8 9 10 11 12 13=7-8-9-10-11-12 14 15 16=13+14+15 17 18=16-17Microfinance Deposit Taking Institutions (MDIs)1 PRASAC 129,441 31,238 98,203 (820) 558 99 98,040 - 51,533 38 - 2,978 43,491 288 278 44,057 8,955 35,1022 AMRET 106,448 23,136 83,312 652 338 1,666 85,968 - 55,763 72 203 (65) 29,995 496 - 30,491 6,212 24,2783 SATHAPANA 69,007 22,412 46,595 5,186 (60) 248 51,969 - 34,799 202 221 (314) 17,062 - - 17,062 3,716 13,3464 Vision Fund Cambodia 40,540 10,525 30,015 (559) 305 606 30,367 - 20,819 35 27 696 8,789 502 - 9,291 1,873 7,4195 Angkor Microherhvatho Kampuchea 56,730 17,111 39,619 1,093 (42) 189 40,859 - 30,131 87 93 1,889 8,659 517 - 9,176 1,991 7,1846 KREDIT 40,745 12,380 28,365 46 - - 28,411 - 20,956 - - (360) 7,814 1,099 - 8,913 1,793 7,1207 Hattakaksekar 18,417 5,199 13,218 562 168 549 14,497 - 9,377 1 485 349 4,285 - - 4,285 1,243 3,041Sub Total 461,328 122,001 339,327 6,160 1,266 3,357 350,110 - 223,377 436 1,029 5,174 120,094 2,903 278 123,275 25,784 97,491Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 35,538 11,365 24,173 (580) (70) 567 24,089 - 16,541 192 - (60) 7,417 4 - 7,421 1,529 5,8929 SAMIC 8,790 2,154 6,637 119 (5) 44 6,795 64 3,707 12 309 (308) 3,010 - - 3,010 626 2,38510 Intean Poalroath Rongroeung 4,886 328 4,558 4 (295) 327 4,595 - 2,637 25 - 241 1,692 - - 1,692 378 1,31311 Green Central Micro Finance 3,661 72 3,589 17 0 0 3,606 - 2,428 - - 1 1,178 - - 1,178 - 1,17812 SEILANITHIH 10,419 2,316 8,103 56 11 2 8,172 - 6,579 289 - 70 1,234 3 - 1,237 305 93313 Cam Capital 6,117 2,026 4,092 803 - - 4,895 - 3,461 - - 227 1,207 - - 1,207 276 93114 Chamroeun 4,421 481 3,939 540 (75) - 4,405 - 3,741 - - 2 662 99 - 761 152 60915 First Finance 1,884 219 1,665 250 (0) 2 1,917 - 1,079 77 9 136 615 - - 615 19 59617 Samrithisak Microfinance 1,537 - 1,537 50 - 0 1,587 - 987 3 - 4 594 - - 594 116 47818 Entean Akpevath Pracheachun 1,205 - 1,205 72 (5) - 1,272 - 698 - - (6) 580 - - 580 130 45019 MAXIMA 2,421 406 2,015 16 3 21 2,055 - 1,546 58 - 7 444 - - 444 110 33520 CBIRD 2,132 455 1,677 (46) (37) 63 1,656 - 1,312 42 - 85 216 - 20 236 21 21620 Angkor ACE Star Credit 1,308 101 1,207 1 (1) - 1,207 - 965 - - 69 173 - - 173 - 17321 Farmer Union Development Fund 801 365 436 - 0 - 436 - 291 - - - 145 - - 145 29 11622 Camma Microfinance 386 59 326 14 (0) - 340 8 279 4 17 19 13 - - 13 - 1323 Farmer Finance 239 84 155 10 2 - 167 - 179 57 - - (70) - - (70) - (70)24 Khemarak 245 - 245 55 - - 300 - 440 - - 1 (141) - - (141) - (141)25 SONATRA 253 7 245 18 - - 264 - 405 - - - (142) - - (142) - (142)26 Y C P Microfinance 199 81 118 5 - - 123 - 267 - - - (145) - - (145) - (145)27 PRIME 643 98 545 (20) (0) - 525 - 619 - - 46 (140) - - (140) 7 (147)28 AEON 1 - 1 (0) (0) - 0 - 393 - - - (393) - - (393) 0 (393)29 MALIS 1,248 33 1,215 1 2 - 1,218 - 1,902 - - 0 (684) - - (684) 12 (696)30 Active People 46 - 46 1 0 - 47 17 1,285 1 2 - (1,257) - - (1,257) - (1,257)Sub Total 88,377 20,651 67,726 1,387 (468) 1,025 69,671 89 51,743 759 337 535 16,208 107 20 16,335 3,709 12,626Total 549,705 142,651 407,053 7,547 798 4,383 419,781 89 275,121 1,195 1,366 5,710 136,302 3,009 298 139,609 29,493 110,117Note: All figures are unaudited and as reported by MFIs-36-

Net ProfitFor Year Ending December 31, 2011Table 27(millions of KHR)2011Net profitTotal AssetsAs percentageof AssetsLoans 1As percentage ofLoansMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 35,102 629,015 5.6% 610,857 5.7%2 AMRET 24,278 482,109 5.0% 399,065 6.1%3 SATHAPANA 13,346 436,195 3.1% 382,354 3.5%4 Vision Fund Cambodia 7,419 178,689 4.2% 152,347 4.9%5 Angkor Microherhvatho Kampuchea 7,184 276,335 2.6% 192,759 3.7%6 KREDIT 7,120 198,857 3.6% 180,106 4.0%7 Hattakaksekar 3,041 350,431 0.9% 304,198 1.0%Sub Total 97,491 2,551,631 3.8% 2,221,686 4.4%Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 5,892 185,573 3.2% 133,914 4.4%9 SAMIC 2,385 32,808 7.3% 30,403 7.8%10 Intean Poalroath Rongroeung 1,313 22,466 5.8% 18,544 7.1%11 Green Central Micro Finance 1,178 20,640 5.7% 18,807 6.3%12 SEILANITHIH 933 35,391 2.6% 33,400 2.8%13 Cam Capital 931 48,290 1.9% 45,227 2.1%14 Chamroeun 609 17,607 3.5% 12,980 4.7%15 First Finance 596 15,336 3.9% 13,462 4.4%16 Samrithisak Microfinance 478 10,783 4.4% 8,827 5.4%17 Entean Akpevath Pracheachun 450 11,356 4.0% 6,810 6.6%18 MAXIMA 335 11,179 3.0% 10,329 3.2%19 CBIRD 216 8,111 2.7% 6,877 3.1%20 Angkor ACE Star Credit 173 4,816 3.6% 3,112 5.6%21 Farmer Union Development Fund 116 8,478 1.4% 4,629 2.5%22 Camma Microfinance 13 2,591 0.5% 2,307 0.6%23 Farmer Finance (70) 1,880 -3.7% 1,280 -5.5%24 Khemarak (141) 9,895 -1.4% 2,641 -5.3%25 SONATRA (142) 3,897 -3.6% 1,636 -8.7%26 Y C P Microfinance (145) 1,245 -11.6% 568 -25.5%27 PRIME (147) 3,631 -4.0% 3,205 -4.6%28 AEON (393) 4,211 -9.3% 132 -298.1%29 MALIS (696) 12,448 -5.6% 9,900 -7.0%30 Active People (1,257) 819 -153.5% 585 -214.9%Sub Total 12,626 473,452 2.7% 369,577 3.4%Total 110,117 3,025,083 3.6% 2,591,263 4.2%1-Loan and Advance to CustomersNote: All figures are unaudited and as reported by MFIs150,000NET PROFIT(Million of KHR)150%100,00050,000-110%75%65%62%42%13,51922,30939,05863,31547,714-25%2005 2006 2007 2008 2009 2010 2011Net Profits Percentage change67,650110,11763%100%50%0%-50%-37-

Table 28COMPARISION OF TOTAL DEPOSITSAs of December 31,2011(millions of KHR)2011 2010 ChangeShareShare 2011/2010Microfinance Deposit Taking Institutions (MDIs)1 AMRET 170,074 37.0% 61,559 37.5% 176.3%2 SATHAPANA 157,084 34.2% 68,915 42.0% 127.9%3 Hattakaksekar 63,718 13.9% 18,768 11.4% 239.5%4 PRASAC 24,118 5.2% 750 0.5% 3115.7%5 Angkor Microherhvatho Kampuchea 21,545 4.7% 7,821 4.8% 175.5%6 KREDIT 13,871 3.0% 3,256 2.0% 326.0%7 Vision Fund Cambodia 2,980 0.6% 1 0.0% 297854.0%Sub Total 453,390 98.7% 161,070 98.2% 181.5%Microfinance Institutions (MFIs)8 Chamroeun 3,524 0.02 - 0.0% -9 SEILANITHIH 1,645 1.0% 1,888 0.4% -12.9%10 Cambodian Business Intergrate in Rural Development 544 0.3% 462 0.1% 17.9%11 Thaneakea Phum Cambodia 292 0.2% 395 0.1% -26.0%12 SAMIC 71 0.0% 94 0.0% -24.7%13 Farmer Finance 6 0.0% 104 0.0% -94.1%14 Entean Akpevath Pracheachun - - - - -15 Green Central Micro Finance - - - - -16 Farmer Union Development Fund - - - - -17 MAXIMA - - - - -18 Intean Poalroath Rongroeung - - - - -19 First Finance - - - - -20 Y C P Microfinance - - - - -21 Cam Capital - - - - -22 Samrithisak Microfinance - - - - -23 Camma Microfinance - - - - -24 Angkor ACE Star Credit - - - - -25 PRIME - - - - -26 Khemarak - - - - -27 Sonatra - - - - -28 Malis Finance - - - - -29 Active People - - - - -30 AEON - - - - -Sub Total 6,083 1.32% 2,943 1.79% 107%TOTAL 459,473 100% 164,013 100% 180%500,000400,000Total Deposits and Deposit Growth275%459,473300%250%Million of KHR300,000200,000100,000-180%164,013104%98%43,76410,412 21,211 22,0824%0%2006 2007 2008 2009 2010 2011200%150%100%50%0%-38-

Table 29TOTAL DEPOSITS CLASSIFIED BY TYPE OF ACCOUNTSAs of December 31, 20112011Voluntary Saving(millions of KHR)CompusarySavingSavingdepositsDemanddepositsTermdepositsOtherdepositInterestpayableTOTALDEPOSITSMicrofinance Deposit Taking Institutions (MDIs)1 AMRET - 23,384 - 146,689 - 3,654 173,7282 SATHAPANA 632 30,265 - 126,187 - 990 158,0753 Hattakaksekar 7,764 10,055 1 45,898 - 307 64,0254 PRASAC - 5,574 - 18,544 - 323 24,4415 Angkor Microherhvatho Kampuchea 2 3,287 1,930 16,327 - 349 21,8946 KREDIT - 1,283 - 10,886 1,702 359 14,2317 Vision Fund Cambodia - 0.45 - 2,979 - 61 3,040Sub Total 8,397 73,850 1,931 367,510 1,702 6,043 459,433Microfinance Institutions (MFIs)8 Chamroeun 1,685 - - - 1,839 140 3,6649 SEILANITHIH 1,645 - - - - - 1,64510 Cambodian Business Intergrate in Rural Development 544 - - - - - 54411 Thaneakea Phum Cambodia 156 136 - - - - 29212 SAMIC 71 - - - - - 7113 Farmer Finance 6 - - - - - 614 Entean Akpevath Pracheachun - - - - - - -15 Green Central Micro Finance - - - - - - -16 Farmer Union Development Fund - - - - - - -17 MAXIMA - - - - - - -18 Intean Poalroath Rongroeung - - - - - - -19 First Finance - - - - - - -20 Y C P Microfinance - - - - - - -21 Cam Capital - - - - - - -22 Samrithisak Microfinance - - - - - - -23 Camma Microfinance - - - - - - -24 Angkor ACE Star Credit - - - - - - -25 PRIME - - - - - - -26 Khemarak - - - - - - -27 Sonatra - - - - - - -28 Malis Finance - - - - - - -29 Active People - - - - - - -30 AEON - - - - - - -Sub Total 4,107 136 - - 1,839 140 6,223TOTAL 12,504 73,986 1,931 367,510 3,541 6,183 465,656As Percentage of Total Deposits 2.7% 15.9% 0.4% 78.9% 0.8% 1.3% 100%Note: All figures are unaudited and as reported by MFIsInterest payable1.3%Other deposit0.8%Term deposits78.9%Total DepositsAs at December 31, 2011Compusary Saving2.7%Saving deposits15.9%Demand deposit0.4%-39-

Table 30LOAN AND NON-PERFORMING LOANS ( NPLS)As of December 31,20112011 2010(millions of KHR)NPLs Loans NPLs Ratio NPLs Loans NPLs RatioMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 854 610,857 0.14% 4,344 425,374 1.02%2 AMRET 295 399,065 0.07% 1,715 270,119 0.63%3 SATHAPANA 839 382,354 0.22% 2,187 234,140 0.93%4 Hattakaksekar 220 304,198 0.07% 1,611 179,588 0.90%5 Angkor Microherhvatho Kampuchea 187 192,759 0.10% 2,013 128,544 1.57%6 KREDIT 602 180,106 0.33% 1,954 132,760 1.47%7 Vision Fund Cambodia 221 152,347 0.14% 612 121,659 0.50%Sub Total 3,218 2,221,686 0.14% 14,436 1,492,184 0.97%Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 171 133,914 0.13% 1,770 90,230 1.96%9 Cam Capital 473 45,227 1.05% 234 19,461 1.20%10 SEILANITHIH 420 33,400 1.26% 809 31,178 2.59%11 SAMIC 437 30,403 1.44% 1,004 24,547 4.09%12 Green Central Micro Finance 1 18,807 0.00% - 11,537 -13 Intean Poalroath Rongroeung 174 18,544 0.94% 1,877 14,173 13.24%14 First Finance 299 13,462 2.22% - 8,305 -15 Chamroeun 6 12,980 0.05% - - -16 MAXIMA 21 10,329 0.20% 19 8,306 0.23%17 Malis Finance 1 9,900 0.01% - - -18 Samrithisak Microfinance 8 8,827 0.09% 8 569 1.41%19 Cambodian Business Intergrate in Rural Development 65 6,877 0.94% 101 5,199 1.94%20 Entean Akpevath Pracheachun 100 6,810 1.47% 92 7,760 1.19%21 Farmer Union Development Fund - 4,629 - - 4,656 -22 PRIME 58 3,205 1.82% - - -23 Angkor ACE Star Credit 119 3,112 3.83% - 1,019 -24 Khemarak 0 2,641 0.01% - - -25 Camma Microfinance 154 2,307 6.68% - 3,509 -26 Sonatra - 1,636 0.00% - - -27 Farmer Finance 26 1,280 2.04% 11 1,119 0.98%28 Active People - 585 - - - -29 Y C P Microfinance - 568 - - 1,089 -30 AEON - 132 - - - -Sub Total 2,535 369,577 0.69% 5,925 232,657 2.55%Total 5,753 2,591,263 0.22% 20,361 1,724,841 1.18%Million of KHR3,000,0002,500,0002,000,0001,500,0001,000,000500,000-1,169616,9530.19%Loans and Non-Performing Loans0.42%4,7162.80%1.18%1,130,21634,8471,244,59720,3611,724,8410.22%5,7532,591,2633.00%2.50%2.00%1.50%1.00%0.50%0.00%2007 2008 2009 2010 2011NPLs Loans NPL Ratios-40-

Table 31TOTAL LOANS CLASSIFIED BY TYPE OF BUSINESSESAs of December 31,20112011 2010(millions of KHR)Growth Rate (%)Amount Share Amount Share 2011/2010Type of Businesses1 Agriculture 1,066,669 41.16% 730,543 42.35% 46.01%2 Trade and Commerce 666,772 25.73% 497,057 28.82% 34.14%3 Household 372,670 14.38% 185,834 10.77% 100.54%4 Services 268,684 10.37% 162,903 9.44% 64.93%5 Transprotation 76,469 2.95% 63,122 3.66% 21.15%6 Contruction 73,463 2.84% 44,460 2.58% 65.23%7 Others 66,537 2.57% 40,922 2.37% 62.59%Total 2,591,263 100% 1,724,841 100% 50.23%Note: All figures are unaudited and as reported by MFIsTotal Loans Classified by Type of BusinessesOthersHouseholdMillion of KHRContructionTransprotationServicesTrade and CommerceAgriculture- 200,000 400,000 600,000 800,000 1,000,000 1,200,0002011 2010-41-

Table 32LOANS CLASSIFIED BY TYPE OF BUSINESSESAs of December 31, 2011AgricultureTrade andCommerce(millions of KHR)Service Transportation Contruction Household Others TotalMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 202,163 193,270 57,645 44,547 4,776 108,456 - 610,8572 AMRET 222,523 33,999 27,071 1,625 21,150 71,628 21,069 399,0653 SATHAPANA 117,406 122,459 60,466 9,397 13,017 54,588 5,020 382,3544 Hattakaksekar 100,473 96,932 26,658 9,223 25,485 43,658 1,769 304,1985 Angkor Microherhvatho Kampuchea 129,844 31,329 11,241 368 976 17,309 1,692 192,7596 KREDIT 54,300 46,539 29,403 - - 36,176 13,688 180,1067 Vision Fund Cambodia 104,416 21,317 7,911 3,626 - - 15,078 152,347Sub Total 931,124 545,845 220,396 68,786 65,403 331,815 58,316 2,221,686Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 69,072 35,627 11,434 548 1,194 12,590 3,449 133,9149 Cam Capital 19,407 11,984 1,761 - - 15 233 33,40010 SEILANITHIH 11,391 9,926 3,207 2,536 1,824 450 1,070 30,40311 SAMIC 3,601 26,907 13,140 127 1,453 - - 45,22712 Green Central Micro Finance 18,046 498 - - - - - 18,54413 Intean Poalroath Rongroeung 605 8,202 9,460 56 272 199 13 18,80714 First Finance 1,029 3,511 844 104 466 701 154 6,81015 Chamroeun - - - - - 13,462 - 13,46216 MAXIMA 2,507 1,341 802 2,617 - 1,953 1,111 10,32917 Malis Finance 4,629 - - - - - - 4,62918 Samrithisak Microfinance 3,836 1,913 828 39 89 163 9 6,87719 CBIRD 12 7,889 208 - 56 605 57 8,82720 Entean Akpevath Pracheachun - 3,112 - - - - - 3,11221 Farmer Union Development Fund - 1,340 - - 1,050 287 528 3,20522 PRIME 78 985 494 70 950 13 51 2,64123 Angkor ACE Star Credit 165 95 93 90 14 825 - 1,28024 Khemarak - - - - - - 568 56825 Camma Microfinance 395 703 171 216 59 28 735 2,30726 Sonatra - - - - - 1,636 - 1,63627 Farmer Finance 204 4,896 4,180 90 346 53 133 9,90028 Active People 559 1,998 1,667 1,191 287 7,217 60 12,98029 Y C P Microfinance 10 - - - - 525 50 58530 AEON - - - - - 132 - 132Sub Total 135,545 120,927 48,287 7,683 8,060 40,855 8,221 369,577Total 1,066,669 666,772 268,684 76,469 73,463 372,670 66,537 2,591,263As Percentage of Total Loans 41.16% 25.73% 10.37% 2.95% 2.84% 14.38% 2.57% 100%Note: All figures are unaudited and as reported by MFIsTotal Loans Classified by Type of BusinessesOthers3%Transportation3%Contruction3%Household14%Agriculture41%Services10%Trade and Commerce26%-42-

Table 33LOANS AS PERCENTAGE OF DEPOSITAs of December 31, 20112011 2010(millions of KHR)Type of BusinessesLoansDepositsLoans toDeposit RatioLoansDepositsLoans toDeposit RatioMicrofinance Deposit Taking Institutions (MDIs)1 PRASAC 610,857 24,118 2533% 425,374 750 56752%2 AMRET 399,065 170,074 235% 270,119 61,560 439%3 SATHAPANA 382,354 157,084 243% 234,140 68,915 340%4 Hattakaksekar 304,198 63,718 0% 179,588 18,768 0%5 Angkor Microherhvatho Kampuchea 192,759 21,545 895% 128,544 7,821 1644%6 KREDIT 180,106 13,871 1298% 132,760 3,256 4077%7 Vision Fund Cambodia 152,347 2,979.5 5113% 121,659 0.44 0%Sub Total 2,221,686 453,390 490% 1,492,184 161,070 926%Microfinance Institutions (MFIs)8 Thaneakea Phum Cambodia 133,914 292 45789% 90,230 395 22844%9 Cam Capital 45,227 - - 19,461 - -10 SEILANITHIH 33,400 1,645 0% 31,178 1,888 1651%11 SAMIC 30,403 71 42948% 24,547 94 26020%12 Green Central Micro Finance 18,807 - - 11,537 - -13 Intean Poalroath Rongroeung 18,544 - 0% 14,173 - -14 First Finance 13,462 - 0% 8,305 - -15 Chamroeun 12,980 3,524 368% - - -16 MAXIMA 10,329 - - 8,306 - -17 Malis Finance 9,900 - - - - -18 Samrithisak Microfinance 8,827 - - 569 - -19 Cambodian Business Intergrate in Rural Development 6,877 544 0% 5,199 462 0%20 Entean Akpevath Pracheachun 6,810 - - 7,760 - -21 Farmer Union Development Fund 4,629 - - 4,656 - -22 PRIME 3,205 - - - - 0%23 Angkor ACE Star Credit 3,112 - - 1,019 - -24 Khemarak 2,641 - - - - -25 Camma Microfinance 2,307 - - 3,509 - -26 Sonatra 1,636 - - - - -27 Farmer Finance 1,280 6 0% 1,119 104 0%28 Active People 585 - - - - -29 Y C P Microfinance 568 - - 1,089 - -30 AEON 132 - - - - -Sub Total 369,577 6,083 6076% 232,657 2,943 7904%Total 2,591,263 459,473 564% 1,724,841 164,014 1052%Loans and Deposits (million of KHR)2011459,4732,591,2632010164,0141,724,841200967,3071,244,597200820,7911,108,225- 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000DepositsLoans-43-

Head Office Address of Microfinance InstitutionsYear 20111 AMRET# 35 BA, Street 169, Sangkat Veal Vong,Khan 7 Makara, Phnom PenhTel: (855-23) 880 942Fax: (855-23) 881 3422 ANGKOR MIKROHERANHVATHO (KAMPUCHEA)# 442, Street 193, Sangkat Toul Svay Prey 1,Khan Chamkamon, Phnom Penh.Tel: (855-23) 993 0623 CAMBODIAN BUSINESS INTEGRATED IN RURAL DEVELOPMENT#715, Group 6, Romchek 4 Village, Sangkat RathanakBattambang City, Battambang ProvinceTel: (855-53) 953 0444 SATHAPANA# 831 C,Preah Monivong Blvd., Sangkat Phsar Deumtkov,Khan Chamkamon, Phnom PenhTel: (855-23) 996 2015 KREDIT# 71, Street 163, Sangkat Toul Svay Prey 1,Khan Chamkamon, Phnom PenhTel: (855-23) 217 942Fax: (855-23) 638 00026 SAMIC# 276, Street 156, Sangkat Teuk Laak II,Khan Toul Kork, Phnom Penh.Tel: (855-23) 998 226Fax: (855-23) 998 2267 ENTEAN AKPEVATH PRACHEACHUN# 189 Eo-191 Eo, Stree Kampuchea Krom , Sangkat Mettapheap,Khan 7 Makara, Phnom PenhTel: (855-23) 884 355Fax: (855-23) 884 3778 FARMER UNION DEVELOPMENT FUND# 753, Preah Monivong Blvd, Sangkat Boeung Trabaek,Khan Chamkamon, Phnom PenhTel: (855-23) 364 005Fax: (855-23) 364 4549 FARMER FINANCE# 1071,National Road No. 2, Sangkat Chak Angre Leu,Khan Mean Chey, Phnom PenhTel: (855-23) 636 3172Fax: (855-23) 720 21010 GREEN CENTRAL MICRO FINANCE# 640 EF,Street 217, Village 6, Sangkat Phsar Doeum Thkov,Khan Chamkamon, Phnom PenhTel: (855-23) 994 455Fax: (855-23) 994 44711 HATTHA KAKSEKAR# 606, Street 271,Village 6, Sangkat Phsar Daeum Thkov,Khan Chamkamon, Phnom PenhTe l: (855-23) 994 304Fax: (855-23) 996 306-44-

12 INTEAN POALROATH RONG ROEURNG# 108, St Confederation de la Russei Blvd, Sangkat Toek Laak 1,Khan Tuol Kork, Phnom PenhTel : (855-23) 990 237Fax: (855-23) 990 23713 MAXIMA MIKROHERANHVATHO# 39, Street 374, Sangkat Toul Svay Prey 1,Khan Chamkamon, Phnom PenhTel: (855-23) 214 240Fax: (855-23) 214 24014 PRASAC MICROFINANCE INSTITUTION# 25, Street 294 and 57, Sangkat Boeung Keng Kang I,Khan Chamkamon, Phnom PenhTel: (855-23) 220 102Fax: (855-23) 216 36215 SEILANITHIH# 35, Street 360, Sangkat Boeung Keng Kang 1,Khan Chamkamon, Phnom PenhTel: (855-23) 367 089Fax: (855-23) 990 22516 THANEAKEA PHUM (CAMBODIA)# 94, Street 360, Sangkat Boeung Keng Kang 3,Khan Chamkamon, Phnom PenhTel: (855-23) 220 641Fax: (855-23) 220 64217 VISION FUND# 20, Street 71, Sangkat Tonle Bassac,Khan Chamkamon, Phnom PenhTel: (855-23) 216 052Fax: (855-23) 216 22018 FISRT FINANCEA-15, A-17, Street 271, Sangkat Tumnub Tek,Khan Chamkomorn, Phnom Penh.Tel: (855-23) 997 937Fax: (665-23) 997 93719 Y-C-P Micro Finance# 73, Street 118, Sangkat Teuk Laak 1,Khan Toul Kok, Phnom PenhTel: (855-23) 882 777Fax: (855-23) 885 87720 Cam Capital# 689 B, Kampucheakrom Blvd, Sangkat Teuk Laak 1Khan Toul Kok, Phnom PenhTel: (855-23) 999 990Fax: (855-23) 996 00221 Samrithisak Microfinance# BB 8 H5, Street 101, Sangkat Boeung TrabekKhan Chamkarmon, Phnom Penh.Tel: (855-23) 997 688Fax: (855-23) 997 68822 CAMMA Microfinance# 49, Street 294, Sangkat Boeung Keng Kang 1,Khan Chamkarmon, Phnom Penh.Tel: (855-92) 361 995-45-

23 Angkor ACE Star Credit# 99, Street 274 ( Prah Sihanuouk Blvd.) Sangkat Chaktomouk,Khan Chamkarmon, Phnom Penh.Tel: (855-23) 224 224Fax: (855-23) 224 70424 KHEMARAK Microfinance# 30 Eo, Street No 128, Sangkat Phsar Thmey 2,Khan Daun Penh, Phnom Penh.Tel: (855-23) 989 02325 PRIME MF Microfinance# 19 A, Street No 271, Sangkat Tomnub Teuk,Khan Chamkarmon, Phnom Penh.Tel: (855-23) 993 90926 SONATRABuilding A137-139, Russian Blvd, Sangkat Toek ThlarKhan Sien Sok, Phnom Penh.Tel: (855-23) 888 89827 MALIS FINANCE# 119 B, Street No 271, Sangkat Phsar Deum Thkov,Khan Chamkarmon, Phnom Penh.Tel: (855-23) 999 661Fax: (855-23) 999 66328 ACTIVE PEOPLE#149C, Street 143, Sangkat Boeung Keng Kang 3Khan Chamkarmon, Phnom Penh.Tel: (855-23) 224 156Fax: (855-23) 224 16529 CHAMROEUN#42D, Street 320, Sangkat Boeung Keng Kang 3,Khan Chamkarmon, Phnom Penh.Tel: (855-23) 987 566Fax: (855-23)30 AEON#320, Monivong Blvd, Sangkat Chaktomuk,Khan Daun Penh, Phnom PenhTel: (855-23) 988 700Fax: (855-23) 987 71131 BAYON#142Eo, Street 169, Sangkat Veal VongKhan 7 Makara, Phnom PenhTel: (855-23)Fax: (855-23)32 BORIBO#63BEo, Street 386, Sangkat Boeung Keng Kang 3,Khan Chamkarmon, Phnom Penh.Tel: (855-23)Fax: (855-23)-46-

No.NAME OF BANKSAppendix 2ARIEL AND FOREIGN CURRENCY INTEREST RATE ON LOANS(As of December 2011)(Rate per Annum)LOAN IN KHR LOAN IN USD OTHER FOREIGN CURRENCYDaily 1 month 3 months 6 months 12 months Daily 1 month 3 months 6 months 12 months Daily 1 month 3 months 6 months 12 months1 ACLEDA Bank 12.00% 12.00% 16.80% 12.00% 12.00% 12.96% 12.00% 12.00% 16.80%2 Cambodian Public Bank Ltd. 24.68% 24.68% 24.68% 24.68%3 Canadia Bank Ltd. 24.00% 24.00% 24.00% 24.00% 18.00% 18.00% 18.00% 18.00%4 ANZ Royal Cambodia 8.25%5 Foreign Trade Bank of Cambodia 18.00% 18.00% 18.00% 18.00% 18.00% 18.00% 18.00% 18.00%6 Bank for Investment & Development of Cambodia Plc. 10.00% 23.00%7 May Bank 11.00%8 Vattanac Bank 8.50% 9.02% 9.00% 10.80%9 Union Commercial Bank Plc. 15.00% 15.00% 15.00%10 Advanced Bank of Asia Ltd. 14.00% 15.00% 16.00% 18.00%11 Cambodian Commercial Bank Ltd. 11.25% 11.25% 11.25% 11.25% 11.25% 11.25% 11.25% 11.25%12 First Commercial Bank 12.00% 12.00% 12.00% 12.00%13 Krung Thai Bank Public Co. Ltd. 13.00% 10.00%14 Cambodia Asia Bank Ltd. 18.00%15 Cambodia Mekong Bank Ltd. 14.40% 14.40% 14.40% 14.40%16 Singapore Banking Corporation Ltd. 15.00% 15.00% 15.00%17 Bank of India Phnom Penh Branch 13.00%18 Maruhan Japan Bank Plc. 16.00%19 Booyoung Khmer Bank 15.00%20 Shinhan Khmer Bank 15.00% 15.00% 15.00% 15.00%21 KOOKMIN Bank Cambodia Plc. 14.00% 14.00% 14.00% 14.00%22 OSK Indochina Bank 14.00%23 HwangDBS 12.00%24 Phnom Penh Commercial Bank 19.00%25 SACOMBANK 11.00% 11.00% 11.00% 11.00% 11.00% 11.00% 11.00% 11.00%26 CIMB Bank Plc. 12.00% 12.00% 12.00% 12.00%27 AGRI Bank Cambodia Branch 16.80% 16.80% 16.80% 16.80% 16.20% 16.20% 16.20% 16.20%28 Bank of China Phnom Penh Branch Ltd. 12.00%29 Camko Specialized Bank Limited 15.00%30 Rural Development Bank 15.00% 12.00%31 PHSME Specialized Bank Ltd. 18.00%32 First Investment Specialized Bank 18.00%33 ANCO Specialized Bank 14.99%34 Tomato Specialized Bank 15.13%35 Angkor Capital Specialized Bank 24.00% 24.00% 24.00% 24.00%Wieghted Average Interest rate22.09% 16.99% 16.99% 19.35% 18.57% 16.35% 16.38% 15.36% 11.25% 11.98% 11.98% 17.84%Average Rate17.45% 16.36% 16.36% 16.93% 15.22% 15.09% 15.15% 14.76% 11.25% 11.63% 11.63% 15.26%-47-

Nº BANKS' NAMEAppendix 2BRIEL AND FOREIGN CURRENCY INTEREST RATE ON DEPOSITSSaving(As of December 2011)(Rate per Annum)Deposit in Riel Deposit in USD Other Foreign CurrencyFixed DepositsFixed DepositFixed DepositSavingSaving1 month 3 months 6 months 12 months 1 month 3 months 6 months 12months 1 month 3 months 6 months 12 months1 ACLEDA Bank 1.25% 3.00% 5.00% 6.00% 6.50% 0.50% 1.50% 2.50% 3.75% 4.25% 0.50% 2.00% 2.50% 3.25% 3.75%2 Cambodian Public Bank Ltd. 0.50% 0.50% 1.75% 2.50% 3.50% 4.25% 0.50%3 Canadia Bank Ltd. 2.00% 5.00% 6.00% 7.00% 0.75% 2.00% 2.50% 3.50% 4.75%4 ANZ Royal Cambodia 0.50% 3.25% 3.50% 4.00% 5.50% 0.25% 1.05% 1.45% 2.75% 3.75% 0.40% 0.50% 0.65% 0.75% 0.95%5 Foreign Trade Bank of Cambodia 1.50% 4.50% 5.50% 6.50% 0.75% 1.00% 2.50% 3.50% 4.75%6 Bank for Investment & Development of Cambodia Plc. 2.00% 3.55% 4.60% 5.55% 6.50% 1.00% 2.50% 3.00% 4.00% 4.85%7 May Bank 0.50% 1.50% 2.25% 3.25% 4.25%8 Vattanac Bank 0.50% 1.50% 2.00% 3.00% 3.50%9 Union Commercial Bank Plc. 1.00% 2.50% 3.50% 4.50% 5.50%10 Advanced Bank of Asia Ltd. 0.75% 0.75% 2.50% 3.50% 4.50% 5.50%11 Cambodian Commercial Bank Ltd. 0.10% 1.00% 0.10% 1.00% 1.00% 1.00% 0.10% 1.00%12 First Commercial Bank 0.40% 1.00% 1.20% 1.40% 1.80%13 Krung Thai Bank Public Co. Ltd. 0.10% 0.50% 0.75% 1.00%14 Cambodia Asia Bank Ltd. 2.00% 2.50% 3.50% 4.50% 5.50%15 Cambodia Mekong Bank Ltd. 3.50% 2.00% 2.25% 2.75% 3.25% 3.50% 2.00%16 Singapore Banking Corporation Ltd. 0.50% 2.50% 3.00% 4.00%17 Bank of India Phnom Penh Branch 0.75% 1.00% 2.25% 3.00% 4.00%18 Maruhan Japan Bank Plc. 3.00% 1.00% 2.00% 3.00% 4.50% 3.00% 1.00% 2.00% 3.00% 4.50%19 Booyoung Khmer Bank 1.00% 3.00% 4.00% 5.00% 6.00% 0.50% 1.50% 2.50% 3.00% 3.50%20 Shinhan Khmer Bank 0.25% 1.25% 1.25% 3.20% 3.50%21 KOOKMIN Bank Cambodia Plc. 0.70% 1.70% 2.50% 3.20% 3.60% 0.50% 1.20% 2.00% 2.70% 3.10%22 OSK Indochina Bank 1.50% 3.50% 4.00% 5.00% 6.00% 1.50% 2.25% 2.75% 3.50% 4.75%23 HwangDBS 1.00% 2.25% 2.75% 3.75% 4.25%24 Phnom Penh Commercial Bank 1.20% 2.50% 4.20% 5.20% 6.20%25 SACOMBANK 1.00% 3.00% 4.00% 5.00% 6.00% 0.50% 2.00% 3.00% 4.00% 5.00%26 CIMB Bank Plc. 1.50% 2.25% 2.50% 3.50% 4.25%27 AGRI Bank Cambodia Branch 1.25% 3.00% 4.00% 4.25% 5.00% 1.00% 1.50% 2.50% 3.00% 3.50%28 Bank of China Phnom Penh Branch Ltd. 0.13% 0.13% 0.13% 0.13% 0.13% 0.50% 1.25% 2.25% 2.75% 3.25%29 Camko Specialized Bank Limited30 Rural Development Bank 1.50% 3.50% 4.00% 5.00% 6.00% 1.00% 3.00% 3.50% 4.00% 5.00%31 PHSME Specialized Bank Ltd.32 First Investment Specialized Bank33 ANCO Specialized Bank34 Tomato Specialized Bank35 Angkor Capital Specialized BankWeighted Average Interest Rate1.18% 2.86% 4.33% 5.28% 6.16% 0.63% 1.65% 2.39% 3.43% 4.29% 0.48% 1.49% 1.83% 2.40% 2.80%AVERAGE Interest Rate1.30% 2.60% 3.45% 4.43% 5.33% 0.86% 1.79% 2.43% 3.27% 4.03% 0.70% 1.25% 1.38% 2.00% 2.35%-48-

THE BANKING SYSTEM IN CAMBODIAAs at December 31, 2011NATIONAL BANK OF CAMBODIA(CENTRAL BANK)31 Commercial Banks 7 Specialized Banks Micro Finance Institutions 21 NBC Provincial Branches9 Foreign Branch Banks1- First Commercial Bank2- Krung Thai Bank3- May Bank4- Bank of India Phnom PenhBranch5- Vietnam Bank For Agriculture &Rural Development CambodiaBranch6- Bank of China Phnom PenhBranch7- Mega International CommercialBank8- ICBC Ltd.9- MB Bank Plc13 Locally incorporated1- Foreign Trade Bank of Cambodia2- Advanced Bank of Asia3- Cambodia Asia Bank4- Canadia Bank Plc.5 - Cambodia Mekong Bank6- Singapore Banking Corpor7- Union Commercial Bank8- Vattanac Bank9- ACLEDA Bank Plc10- Bank for Investment & Developmentof Cambodia Plc.11- Maruhan Japan Bank12- Booyoung khmer Bank13- Phnom Penh Commercial Bank9 Subsidiary Banks1- Cambodian Commercial Bank2- Cambodian Public Bank3- ANZ Royal Bank Cambodia4- Shinhan Khmer Bank5- Kookmin Bank Cambodia Plc6- OSK Indochina Bank7- Hwang DBS Commercial Bank8- CIMB Bank9- Siagon Thoeung Tin CambodiaBank1 State owned1- Rural Development Bank6 Privately owned1- PHSME Specialized Bank2- First Investment SpecializedBank3- ANCO Specialized Bank4- TOMATO Specialized Bank5- Angkor Capital SpecializedBank6- Camko Specialized Bank2 Representative Offices1- Standard Chartered2-Bank for Investment-Developmentof Vietnam32 Licensed1- AMRET Co Ltd.2- Hatthakaksekar3- Thaneakea Phum Cambodia4- Sathapana Limited.5- Seilanithih6- Angkor Microheranhvatho Kampuchea7- Vision Fund (Cambodia) Ltd.8- CREDIT Co. Ltd.9- Prasac Micro Finance Institution10. Farmer Union Dev.Fund11. Cambodia Business Integrate in rural Development12- Maxima Mikroheranhvatho13- Intean Poalroath Rongroeurng14- SAMIC Limited15- Entean Akpevath Pracheachun16- Farmer Finance Ltd.17- Green Central Micrifinance18 First Finance19- YCP Microfinance20- Cam Capital21- Samrithisak Microfinance22-Camma Microfinance23-Angkor ACE Star Credit24-Khemarak25-Prime MF26-Sonatra27-Malis Finance28-Chamroeun Microfinance29- Active People’s Microfinance30-Bayon Credit31-AEON Microfinance (Cambodia) Private Company32- BORRIBO1- Krung Phnom Penh2- Kampong Cham3- Sihanouk Ville4- Siemreap5- Battambang6- Bunteay Meanchey7- Svay Rieng8- Kandal9- Kampot10-Kampong Thom11-Pursath12-Kampong Speu13-Koh kong14-Ratanakiri15-Prey Veng16-TaKeo17-Kampong Chnaing18-Preah Vihear19-Kratie20-Stung Treng21-MondolkiriMoney ChangerPhnom Penh:- License: 37- Authorization: 40- License: 2- Authorisation:1548-49-

No. Name of Institution No. Name of Institution1 Cambodia Rural Economic Development Organization 16 Ta Ong Soybean Development Association2 Social Development in Rural 17 Cambodia Mutual3 Khmer Rural Development Association 18 Association of Samnang Rural Development4 Lotheran World Service, Cambodia Program 19 Cambodia Economic Network5 Cambodia Credit to Abolish Poverty Organization 20 Community Support Improve Development6 Aid Farmers Association 21 Peace and Development Institute7 Kratie Women Welfare Association 22 Chan Soksan Organization8 New Economic Workers Organization 23 SABORAS Organization9 Ministry of Rural Development Credit Scheme 24 Farmer Livehood Development Organization10 Cambodian Community Savings Federation 25 Village Development Association11 Association for Business Initiative 26 CKMFG (Cambodia)12 Crop Supporting National Association 27 Lokrou Organization13 Northwest Development Association 28 Khmer Farmers Association14 Agriculture and Tourism Development Association 2915 CICM CambodiaRegistered Non Government OrganizationsDecember 2011Development of Agricultural System for Poor Families Organization inCambodia-50-