Table of bank and MFI deposit rates?
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- Making Khmer girls cry since 2003
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Spot on. In the most recent financial crisis, despite having the worst failed banks pro rata in the world, not one single euro deposit will go unpaid from an Irish bank.gavinmac wrote:You can never go wrong with an Irish owned bank.
Bosco wrote:Spot on. In the most recent financial crisis, despite having the worst failed banks pro rata in the world, not one single euro deposit will go unpaid from an Irish bank.gavinmac wrote:You can never go wrong with an Irish owned bank.
Thanks to the Irish taxpayer, not to Irish banks' intrinsic merits.
Sorry. My sarcasm is hard to take in real life never mind on a forum with no smileys to convey my intention.Bosco wrote:Is this a joke? They are almost all absolute sharks.YaTingPom wrote: I hope MFI's continue to support communites and not be tempted by profits from industry like the traditional banks do.
My two cents on this is that I have a niggling concern about this sector and particularly a few of the operators within it. I see AMK mentioned above and I too have some cash with them. It's European (and part Irish) owned but I have no other basis for that trust. If you can get over the profits that are made by your financial institution being used to evangelise Cambodian peasants then Vision Fund (World Vision's money spinner) is probably a safe bet with all that American Christian money behind it. Credit Mutuel is not backed cash wise by the French version but all the developing country MFI's that they are associated with for decades are still afloat. None of others appeal to me although I note GMJS recommending Kredit above so maybe that's OK.
But yes, you can't go wrong with Irish banks. To be sure now.
pew, pew, pew, pew!
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- I've got nothing better to do
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Just to add a useful link in support of this thread:
http://www.mixmarket.org/mfi/country/Cambodia
MixMarket is a global data hub where you can access full information, reports, third party ratings for MFIs; the link above provides access to all those in Cambodia.
I've personally had (somewhat) significant funds with KREDIT, VisionFund, and AMK (earlier) for better part of 10 years now. All experiences positive, and what other investments in that period have provided a guaranteed 8,9,10%+ return year, after year, after year, after....none of course!
http://www.mixmarket.org/mfi/country/Cambodia
MixMarket is a global data hub where you can access full information, reports, third party ratings for MFIs; the link above provides access to all those in Cambodia.
I've personally had (somewhat) significant funds with KREDIT, VisionFund, and AMK (earlier) for better part of 10 years now. All experiences positive, and what other investments in that period have provided a guaranteed 8,9,10%+ return year, after year, after year, after....none of course!
Fair enough but the reason the rate is so high is because it is inherently risky.stubblejumper wrote:I've personally had (somewhat) significant funds with KREDIT, VisionFund, and AMK (earlier) for better part of 10 years now. All experiences positive, and what other investments in that period have provided a guaranteed 8,9,10%+ return year, after year, after year, after....none of course!
I started a thread on this very point (why MFIs are better than banks) over a year ago and I was laughed at.
I've got two 6 figure sums with Prasac and Amret who I believe are the largest.
I was planning to get out next year before the next elections, the article below confirms my thoughts about getting out of the MFI market next year.
http://www.phnompenhpost.com/business/p ... ing-market
The International Monetary Fund (IMF) warned this week that Cambodia’s credit growth, which has surged about 30 per cent annually for each of the last three years, could pose a significant risk to the country’s economy and financial stability. The IMF urged Cambodia to implement measures including raising the reserve requirements for microfinance institutions.
I was planning to get out next year before the next elections, the article below confirms my thoughts about getting out of the MFI market next year.
http://www.phnompenhpost.com/business/p ... ing-market
The International Monetary Fund (IMF) warned this week that Cambodia’s credit growth, which has surged about 30 per cent annually for each of the last three years, could pose a significant risk to the country’s economy and financial stability. The IMF urged Cambodia to implement measures including raising the reserve requirements for microfinance institutions.
While some might argue that I am in early in a ponzi scheme - I just withdrew my largest fixed deposit from AMRET. Zero problems. Excellent customer service including the best counting out of cash I have ever seen. From any financial service institution. In the world. All questions answered too. And I had *many*. Even better than ABA.
They should be good, if measured by customer individual deposits Amret would be the 13th biggest bank in the country (just shy of Maybank territory currently - ABA is 6th), and with just shy of 3,000 staff compared to ABA's 700, you'd hope there would be more elves in branch counting out all that hermespan loot!
Curious though, what made you choose Amret over the 5th biggest bank, sorry MFI, Prasac? Can't be the KHR interest rate which for Prasac is about as good as it gets, almost to the point of it being worth keeping those apparently redundant 100 riel notes!
Curious though, what made you choose Amret over the 5th biggest bank, sorry MFI, Prasac? Can't be the KHR interest rate which for Prasac is about as good as it gets, almost to the point of it being worth keeping those apparently redundant 100 riel notes!
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
I don't understand why you'd rate a bank on how quickly you withdrew money.
pew, pew, pew, pew!
Only one factor of course. Just like how quickly you get in a girl's pants.YaTingPom wrote:I don't understand why you'd rate a bank on how quickly you withdrew money.
BTW, just tested CMK (credit union) withdrawal also. Even sluttier! Took 23 minutes - largely because I didn't have many questions. Counting out money vastly inferior to Amret, and CMK gave zero interest for days outside of term. 6% per annum calculated every 6 months at 3%, including any taxes (amazing, how do they do it?). Maximum 2k (1/2 in each currency).
I earned 19.4% in three years.
Best deal in town for small amounts?
Just for making comparison easier, here comes the list of Microfinance Deposit Taking Institutions by NBC. Though CMK is missing.
http://www.nbc.org.kh/english/supervisi ... utions.php
http://www.nbc.org.kh/english/supervisi ... utions.php
I have been thinking along these lines also , problem is , where to put it . What are your intentions Thrifty ?Thrifty wrote:I've got two 6 figure sums with Prasac and Amret who I believe are the largest.
I was planning to get out next year before the next elections, the article below confirms my thoughts about getting out of the MFI market next year.
Sent from my Computer, using a keyboard and mouse
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