Hattha Kaksekar Ltd - KHR

  • Region: Asia & Pacific
  • Country: Cambodia
  • Sector: Microfinance
  • Year: 2010
  • Domicile: None
  • Instrument:
  • Commitment (MNOK) as of 31.3.2017: 0
  • Original Commitment (MNOK): 11.7

HKL is a microfinance institution in Cambodia.  The institution has grown from being a small NGO to becoming the fourth largest microfinance institution in the country. HKL provides financial services to micro-, small- and medium-sized businesses (MSMEs) that are largely unserved by commercial banks. Norfund’s equity investments, loans and active shareholding have been crucial to HKL’s rapid development.

Since 2007, the number of HKL’s active borrowers has increased from 23,000 customers to 113,000. In addition to contributing to increased access to capital for SMEs, HKL contributes to development by creating direct employment opportunities (HKL’s staffing increased from 248 people in 2007 to 2,300 people in 2016) and educating its customers about finance.

In 2016, the institution was ready for investment from an experienced shareholder in the banking sector. The Bank of Aydhya – a top tier bank in Thailand – bought all HKL’s shares. The Bank of Ayudhya is a subsidiary of Bank of Tokyo Mitsubishi (BTMU), one of the world’s largest banking groups. 

Norfund's return on this investment was 34%.

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo