Cambodia Investment Review
BRED Bank Cambodia has appointed Mr. Nicolas Hollanders as its new Chief Executive Officer. He replaces Mr. Guillaume Perdon, who has led the bank since its launch in 2017.
A statement by BRED Bank Cambodia read Mr. Hollanders has spent over 18 years in a variety of roles within the BRED Group, starting as a teller and working his way through various branch and corporate management posts.
According to BRED Groups 2021 annual report wholly owned Cambodian subsidiary made a net income of approximately $400,000 after losing $2.1 million of net income in 2020.
For the first year, the bank reached its break-even point and generated a profit. At the end of 2021, the bank was serving 9,000 customers, including nearly 650 companies.
BRED Bank, the first and only EU bank in Cambodia which is based in France said to continue supporting the subsidiary’s development, a capital increase of $35 million was carried out in September 2021.
Cambodia a rapidly developing economy
Nicolas Hollanders spent five years as Regional Director overseeing BRED’s operations in Guadeloupe and, most recently, has been International Deputy Director for the Group, running their network of subsidiaries.
Mr. Hollanders knows his new team well – having chaired BRED Bank Cambodia for the last year.
“I am delighted to be taking up my new post as the Chief Executive Officer of BRED Bank Cambodia,” said Mr. Hollanders. “It’s a fabulous opportunity for me and my family to come and live in this wonderful, rapidly developing country.
“Cambodia has so much potential and I am excited that our bank is at the heart of its development – bringing the highest standards to all our customers, both business and personal,” he added.
“I am inheriting a wonderful, talented team with a clear growth plan that will see us go from strength to strength in the years ahead.”
Credit Bureau of Cambodia (CBC) has made a medium-term outlook for Cambodia’s total loan balance forecasting it to grow from $48 billion in 2022 to $119 billion in 2027, representing a 147% growth over five years.
To read more about CBC’s midterm outlook click here.
Outgoing CEO welcomes Nicolas Hollanders as new appointment
Outgoing CEO, Guillaume Perdon will introduce his successor to many customers and members of the Kingdom’s banking fraternity during a two-week handover period in September.
“I really can’t think of anyone better to succeed me as CEO. Nicolas is an exceptional banker with the experience and the ability to take BRED Bank Cambodia forward,” said Mr. Perdon, who is returning to Paris to take up a new, international role within BRED Group.
“I’ve been fortunate to work with a great team here in Cambodia and I know that our bank will continue to go from strength to strength. I am looking forward to visit again soon in my new role with BRED Group.”