AMK Microfinance Institution Plc. (AMK)'s origins can be traced back to the savings and credit component of Concern Worldwide's original community development work in Cambodia. From 1997 to 1999, these savings and credit activities were gradually separated from Concern’s broad spectrum community development program. Eventually, savings and credit became a separate project in its own right, albeit still administered by Concern.
In 1999, having grown significantly (with portfolio value surpassing KHR 1,000 million (US$250,000)) and facing changes in the regulatory environment, Concern began the multi-year process of creating a separate legal entity.
In 2001, the credit and savings project became known as Thaneakea Ponleu Thmey (TPT), an officially recognized Cambodian Microfinance Institution (MFI).
The bulk of the transformation process took place from 2002 to 2003, changing TPT into AMK Co. Ltd as it is known today. A new name, Angkor Mikroheranhvatho Kampuchea (AMK), was chosen and registered as a Limited Liability Company with the Ministry of Commerce. The physical separation of all assets and liabilities from Concern was subsequently completed.
Operationally, AMK redefined its focus, constituted and strengthened its Board of Directors, recruited new staff members, and began the task of upgrading systems and policies in line with the needs of a financial institution. In 2004, AMK obtained an MFI license from National Bank of Cambodia. In 2005, AMK secured its first debt financing and created a social performance management mechanism to gauge its social impact.
Since turning its first profit in 2005, AMK has matured into a large organization, expanded its geographic reach across Cambodia, and pioneered many innovative new products and services. Having weathered the global financial crisis of 2008, AMK sought to further expand the services it could offer its customers. In 2010 AMK was granted a Microfinance Deposit-taking License (MDI) by the National Bank of Cambodia allowing it to start offering savings products to its clients.
Since then, AMK has continued to develop its range of products and services to suit the clients’ needs. In 2013 it launched Cash Deposit Machines (CDM) and Automatic Teller Machines (ATM). AMK has continued to grow and at the beginning of 2014 AMK officially opened 10 new standard offices and a new Head Office in Phnom Penh. AMK now stands as one of the leading MFIs in Cambodia.