CEO’s Message
Cambodia's economy is on the recovery, with the World Bank projecting a 5.4% growth rate in 2023. Yet, the shadows of the recent economic downturn linger, masking the slower pace of recovery in the everyday lives of its people. Not only the impact of the macroeconomic slowdown, the complexity of the situation is due to the context that the Cambodian financial sector has undergone overheated expansion in the past. The recent pandemic-induced income reductions have exposed these risks, necessitating a phase of correction of the leverage as a whole sector. This situation underlines the imperative for financial institutions to collaborate in fostering responsible lending practices and aligning fair actions with lending guidelines.
At MAXIMA, we have always placed a premium on responsible lending, recognizing its critical importance, especially in challenging times. We maintained the outstanding balance of USD 32 million at the end of 2023.
We emphasize meticulous loan assessment in alignment with our policies and guidelines, ensuring that our loans not only meet the clients’ needs but also contribute positively to their lives. Precisely because these times are challenging, I believe that we must act with integrity and purpose, striving to serve the greater good and make a meaningful difference in the lives of others.
In 2024, we are committed to striking a balance between investing for growth and managing risks in the face of adversity. In detail, our strategic direction will be delineated into the following key areas: 1. Enhance branch productivity and expand our village banking product 2. Strengthen quality and risk management, and reinforce internal controls 3. Advance technology and security measures 4. Develop staff capabilities and attract key talents to ensure sustainable growth and improved loan quality.
We extend our heartfelt gratitude to the National Bank of Cambodia and the Royal Government of Cambodia for their guidance, and to our shareholders, the Chairman, and the Board of Directors for their unwavering support. Their leadership has been instrumental in steering us through these challenging times and positioning us for future success.
The resilience and progress we have achieved are testament to the dedication of our team members and the trust our clients place in MAXIMA’s services. As we forge ahead, we remain committed to our mission of providing financial stability and security for individuals and businesses.
On behalf of the management team, I express our deepest gratitude to all our stakeholders for their continued trust and support. United in our efforts, we are poised to navigate the challenges and seize the opportunities that lie ahead, propelling MAXIMA to greater heights in the year to come and beyond.
Tomohiro Isozaki
Chief Executive Officer