Amret Microfinance Institution - Milestones



Amret, as a leading microfinance institution in Cambodia, was formerly known as "EMT". Its historical background is as follows:


1991: GRET, a French NGO, sets up an experimental project to deliver microcredit to the rural population of Cambodia. The first experimental phase (EXPE I) is launched, with a single financial service known as Solidarity Credit (SC).
1995: Initialization of a second experimentation phase (EXPE II). SC is modified under new procedures while an Individual Credit (IC) product is launched. Meanwhile, GRET plans to transform the project into a microfinance institution.  
1996: Conception of the name Ennatien Moulethan Tchonnebat (EMT).  
1998: End of EXPE I. All activities are transferred to EXPE II. As EMT becomes operationally self-sufficient, a new organizational chart is designed that transfers management responsibilities from technical assistants to local staff.  
1999: EMT borrows from commercial banks for the first time.  
2000: EMT becomes a private limited company, "Ennatien Moulethan Tchonnebat Ltd.", with a registered share capital of KHR 330 million from 2 shareholders, GRET and SIDI.  
2001: EMT receives its MFI license from the National Bank of Cambodia.  
2002: EMT legally admits two new shareholders, Proparco and La Fayette Participations and considers investing in a new Management Information System (MIS).

EMT launches a Certificate Deposit (CD) product in two branches.

2003: EMT redesigs Individual Business Loans to meet market needs, and lowers the interest rate from 4% to between 3.5% and 3.0%, according to loan amounts. Conclusion of permanent expatriate technical support.I&P join EMT as a new shareholder.  
2004: EMT is renamed "Amret" on June 14, 2004.  
2005: Amretrolls out a new MIS "Microbanker Windows Version".

Amret diversifies individual loans into (1) -Business loan, (2) -Educational loan, (3) -Home improvement loan, (4) -Household consumption loan.

Amret introduces the front-office operations - the conventional banking operations where the borrowing clients come to institutional branches.

2006: A new shareholder invests in Amret, namely Advans SA SICAR (Advans).  
2007: Another new shareholder invests in Amret, namely Botta - the staff investment company.  
2008: SIDI and I & P exit, but three new shareholders come in: Proparco, FMO and Oikocredit  
2009: Amret obtained the license of deposit taking from public in January 2009
By end of the year, all branches of Amret are ready to collect savings from the public
2012: One shareholder, Oikocredit, exits, and its all shares had been purchased by Advans SA.  
2015: Two shareholders, Proparco and Gret, exits, and their shares have been, respectively purchased by Advans, FMO and Botta, existing shareholders, as well as  IFC, new shareholder.