Former BRED Bank Cambodia Deputy Becomes Hattha Bank CEO
BRED Bank Cambodia's Deputy Chief Executive Officer (CEO), Min Sopha, is stepping down from his position after seven and a half years to become the new CEO at Hattha Bank in late June 2024.
"My time helping to develop BRED Bank Cambodia as a strong member of the Kingdom's banking sector has been intense and rewarding," said Sopha. “Having developed extensive experience as Deputy CEO of BRED Bank Cambodia, I feel I'm ready to take on the new personal challenge of being CEO.”
BRED Bank Cambodia’s CEO, Nicolas Hollanders, said, “I thank Sopha for his contribution to establishing our bank. We are very proud of him, and he leaves with the best wishes of everyone at BRED Bank Cambodia, where we value his professionalism and friendship.”
Min Sopha is an experienced banker who has been highly successful in Cambodia's banking and financial sector. He has held leadership roles in leading Cambodian and international banks for over 20 years.
Sopha replaces Hout Ieng Tong, Former President & CEO, who co-founded Hattha Bank in 1994 and represented the institution until 2024.
History Of Hattha Bank In Cambodia
Hattha Bank was formerly a food security project launched in Cambodia’s Pursat Province by OCSD/Oxfam–Quebec – a Canadian organisation – in 1994, providing micro loans to rural people in four communes.
The project eventually grew and became its own NGO, then in later years transformed into a private limited company (PLC), obtained a permanent microfinance license, transitioned into a Microfinance Deposit Institution (MDI), was acquired by Bank of Ayudhya (Krungsri) in 2016 – the fifth largest bank in Thailand – before finally turning into a commercial bank under the name ‘Hattha Bank Plc’ in 2020.
In 2024, the bank parent’s company, Krungsri Bank, announced a new USD $300 million credit line to support Hattha Bank’s business operations, bringing the total amount of the bank’s credit to nearly USD $500 million.
Hattha Bank’s New CEO – Min Sopha
A Hattha Bank statement cite’s Min Sopha’s extensive experience and expertise in various areas, including planning and managing operations; branch distribution networks; corporate, commercial, and SME banking; as well as consumer business development.
Sopha also holds an MBA from Paññāsāstra University of Cambodia, complementing his practical experience across the financial services industry. He has been in leadership roles in leading Cambodian and international banks including ANZ Royal Bank, and ACLEDA Bank for over 20 years.
In addition to his banking role, Sopha has also held various volunteer positions, such as serving as a Board Member of Credit Bureau Holding Cambodia Co., Ltd. (CBHC) and as a Board of Trustee of the International School of Phnom Penh (ISPP)
In the bank’s officially released statement, Sopha promised to solidify Hattha Bank's position as a beacon of financial stability and prosperity in Cambodia, saying:
It is a privilege to take on the role as the CEO of Hattha Bank, with Hattha Bank’s good, long-standing reputation in the Cambodian market and its diverse client base, coupled with the extensive experience of our staffs and the strong backing of Krungsri, I believe Hattha Bank is well equipped for robust and sustainable growth to serve our customers in the Kingdom. I am excited to lead the bank into the next phase of development.
In the fourth quarter of 2023, Hattha Bank was the fourth largest commercial bank in Cambodia based on its operational offices. In terms of both loan and deposit balances, the bank has successfully maintained a strong standing among the top eight banks in the country.
According to the bank’s annual report for 2023, Hattha Bank currently operates 171 branches, 131 ATMs, 16 cash deposit machines (CDMs), and three self-service terminals (STMs). The bank also records 83,888 subscribers on its Hattha Mobile platform, and has partnerships with around 81,134 merchants, supporting businesses across Cambodia.