សេវាកម្មការស្រាវជ្រាវ និងនវានុវត្តន៍កាលិកបត្រស្រាវជ្រាវការបោះពុម្ពផ្សាយ

Financial Statement Analysis of Cathay United Bank (Cambodia) Plc.: A Five-Year Review (2019-2023)

Pisey Ork

ACLEDA University of Business, Phnom Penh, Cambodia

Phorn Ngam

ACLEDA University of Business, Phnom Penh, Cambodia

Homoly Hong

ACLEDA University of Business, Phnom Penh, Cambodia

ISSN: 3078-3771 (Print)

DOI: https://doi.org/10.71215/ars.202652

Keywords: Financial Statement Analysis, Financial Performance, Financial Position, Du Pont Analysis, Cathay United Bank (Cambodia) Plc.

Published: 2026-06-19

How to Cite in APA Style: Ork.P., Ngam.P., & Hong.H. (2026). Financial statement analysis of Cathay United Bank (Cambodia) Plc.: A five-year review (2019-2023). AUB Research Series, 5, 28-66.

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Abstract

This study provides a comprehensive financial statement analysis of a foreign-owned commercial bank in Cambodia which is Cathay United Bank (Cambodia) Plc. over a five-year period from 2019 to 2023. The purpose of this study was to evaluate the bank’s financial health by analyzing key financial ratios related to profitability, efficiency, and leverage, as well as assessing the financial performance and position across the five years. To achieve these objectives, this research employed a quantitative approach using horizontal analysis, vertical analysis, ratio analysis, and Du Pont analysis as the main analytical tools. Secondary data were collected from publicly available annual reports obtained from the official website of Cathay United Bank (Cambodia) Plc., specifically from the financial statement sections of the reports published between 2019 and 2023. The study revealed that 2019 was the bank’s most profitable year, supported by a strong return on equity, reflecting the efficient use of shareholders’ capital. However, from 2020 to 2023, the bank’s profitability declined compared to 2019 and fluctuated over the subsequent years, despite the relative stability of its asset base. The study provides insights into the bank’s financial stability, profitability, and overall financial health.

Authors' Biography

Pisey Ork has graduated with a Bachelor’s degree in Finance and Banking from ACLEDA University of Business and is currently pursuing a Master’s degree in Finance. She has been working in the financial industry since 2022, where she has been involved in supporting business planning processes, preparing performance reports, and conducting market research. She also has experience in drafting formal reports and participating in departmental reviews and analysis. Her academic and professional interests focus on financial management, banking operations, and strategic market assessment areas that continue to shape her career and research within local growing financial sector.

Phorn Ngam currently graduated her master's degree in Finance and Banking at ACLEDA University of Business. She holds a bachelor's degree in Business Administration with a focus on Finance and Banking, which she earned in 2022. In her professional role, Mrs. Ngam serves as the Manager of the Research and Incubation Unit at ACLEDA University of Business, where she applies her expertise to support innovative projects and research initiatives. Hailing from Banteay Meanchey Province in Cambodia, Mrs. Ngam has demonstrated a strong commitment to advancing her knowledge and contributing to the field of finance and banking, business, education, research and innovation both academically and professionally.

Homoly Hong born in 1980, with a passion for finance that began in 2002 with a law degree, he embarked on a journey of continuous learning. He soon added accounting expertise through a bachelor's degree in 2003, followed by an MBA specializing in finance in 2011, all from prestigious Cambodian institutions. He is currently pursuing the esteemed ACCA program at Cam-Ed Business School, demonstrating his dedication to staying at the forefront of the field. His career path at ACLEDA Bank Plc. exemplifies his dedication and growth. Starting as an accountant in 2003, he quickly progressed through various accounting and auditing roles. His talent was recognized with promotions, culminating in his current position as Vice President and Chief Financial Officer of ACLEDA University of Business. He previously served as Deputy Managing Director and Head of Planning & Finance Office, demonstrating his leadership and strategic acumen. Beyond his impressive career, he is a dedicated trainer. Since 2005, he has been a valuable member of ACLEDA Bank's trainer pool, sharing his expertise with others. His training programs cover a broad range of topics, from core accounting and finance to business plan development and financial auditing.

Authorship Disclaimer

The authors are solely responsible for the content of this article. The views expressed herein are those of the authors and do not necessarily reflect the views of the journal, its editors, or the publisher.

AI Use Declaration

The authors declare that artificial intelligence (AI) tools were used only to assist in language editing, grammar improvement, and clarity of writing. All research design, data collection, data analysis, and interpretation of results were conducted by the authors. The authors take full responsibility for the originality and integrity of the content presented in this study.