Euromoney names ABA Bank as Best Bank in Cambodia

Hong Kong, July 18 – Prestigious financial magazine Euromoney has named ABA Bank the Best Bank in Cambodia for 2014, the first such award that Euromoney has bestowed on a bank in the Kingdom of Cambodia. The celebration for the South-East Asian regional winners was held at Hong Kong's luxurious Shangri-La Hotel last night as part of the annual Awards for Excellence gala-dinner organized by the publication.

Euromoney magazine’s recognition of ABA rests on the strength of its market position and the outstanding growth of its branch network over the year, as well as for its strong emphasis on delivering service quality and implementing new technological solutions. Together, these enable the bank to serve its diverse and continually expanding customer base quickly and efficiently. The award result is a reflection of the bank’s consistent delivery of state-of-the-art products and exceptional client service. The criteria are based on the 12 months prior to March 2014 and are submitted by the banks in each country/region. Euromoney uses this information to create a shortlist of each country’s three leading banks, and an editorial panel of judges then chooses the winner.

“This is a wonderful achievement for our Bank. We are delighted to receive this significant recognition from a world leader in the financial publishing sector, which is the realization of our long-term goal to become the best bank in the country. The acknowledgement is confirmation that we are heading in the right direction, and the trust our valued clients place in us means that the award is as much theirs as it is ours,” said Askhat Azhikhanov, Chief Executive Officer of ABA.“This honor is proof of our strength, and reaffirms that we have the expertise and capacity necessary to provide high quality financial services to people across the country, allowing them to achieve their ambitions with the appropriate support,” added Mr. Azhikhanov.

Marcus H. Langston, Euromoney Asia Regional Head, said: “ABA Bank wins the inaugural award for the best bank in Cambodia. Net profit at the bank grew by almost a fifth while total revenues rose by a quarter. Operating profit was up 40% and profit before tax 28%. There are 35 commercial banks vying to sign up more customers.ABA has worked to upgrade several of its branches in Phnom Penh and the provinces and is also embracing technology, redesigning its website and improving cardholder security, cash deposit machines and other factors that will be important in taking banking in Cambodia to the next level. For its role in leading these efforts, ABA wins the award.”

The ‘Best Bank in Cambodia’ award from Euromoney magazine is a worthy continuation of the acknowledgments of other international financial institutions and publications, which have praised ABA for its expertise, experience and ongoing commitment to innovation. Since 2010, ABA Bank has won five industry awards – deserved recognition of its strong market position in the banking business as well as of its exceptional performance.