ABA​ honored​ as​ Best​ Domestic​ Bank​ in​ Cambodia​ 2023​ by​ Asiamoney​ Magazine


ABA Asiamoney 2023

ABA​ Bank,​ Cambodia's​ largest​ commercial​ bank1,​ has​ been​ honored​ as​ the​ Best​ Domestic​ Bank​ in​ Cambodia​ 2023​ by​ Asiamoney​ magazine,​ the​ regional​ arm​ of​ the​ reputable​ international​ financial​ magazine​ Euromoney.​ This​ constant​ recognition​ from​ Asiamoney​ showcased​ the​ Bank's​ excellence​ in​ the​ local​ financial​ sector.​

ABA​ has​ been​ commended​ for​ its​ prominent​ presence​ in​ the​ local​ market,​ contribution​ to​ the​ growth​ of​ the​ local​ eCommerce​ sector,​ and​ commitment​ to​ meeting​ the​ diverse​ needs​ of​ its​ customers.

ABA's​ dedication​ to​ innovation​ and​ providing​ cutting-edge​ banking​ solutions​ to​ its​ customers​ has​ also​ contributed​ to​ its​ success.​ Throughout​ 2022,​ the​ Bank​ has​ continued​ enhancing​ its​ product​ and​ service​ offerings,​ ensuring​ customers​ access​ to​ high-quality​ banking​ experiences.​

In​ particular,​ ABA​ has​ expanded​ its​ services,​ offering​ ABA​ Junior​ Account​ for​ children​ aged​ 10+​ and​ contributing​ to​ financial​ literacy​ and​ inclusion​ in​ the​ society.​ Additionally,​ ABA​ Card​ Machines​ streamline​ card​ issuance,​ allowing​ ABA​ Mobile​ users​ to​ issue​ plastic​ cards​ in​ minutes​ without​ branch​ staff​ assistance.​ ABA​ became​ the​ first​ bank​ in​ the​ Kingdom​ to​ introduce​ such​ a​ self-service​ machine.

The​ Bank​ has​ experienced​ substantial​ growth​ in​ cashless​ QR​ payment​ acceptance,​ benefiting​ over​ 600,000​ offline​ and​ online​ merchants.​ The​ ABA​ Merchant​ app,​ a​ perfect​ solution​ for​ businesses​ of​ any​ kind​ to​ collect​ cashless​ payments​ and​ manage​ business​ easily,​ has​ also​ seen​ a​ 59%​ growth​ in​ active​ users​ within​ the​ year.

​Furthermore,​ ABA​ enlarged​ its​ physical​ presence​ with​ the​ official​ launch​ of​ four​ new​ full-scale​ branches​ and​ 16​ ABA​ 24/7​ self-service​ spots.

Earlier​ in​ 2023,​ the​ Bank​ revamped​ its​ ABA​ Mobile​ app​ to​ provide​ customers​ with​ a​ more​ personalized​ and​ convenient​ banking​ experience.​ The​ updated​ app​ allows​ users​ to​ customize​ their​ app​ with​ widgets,​ backgrounds​ and​ icon​ packs,​ adjust​ font​ size​ for​ accessibility,​ and​ switch​ between​ light​ and​ dark​ modes.

"We​ are​ honored​ to​ receive​ the​ prestigious​ recognition​ from​ Asiamoney​ as​ the​ Best​ Domestic​ Bank​ in​ Cambodia​ for​ another​ year.​ This​ achievement​ holds​ even​ more​ significance​ as​ it​ was​ bestowed​ upon​ us​ by​ regional​ experts​ who​ truly​ understand​ our​ efforts​ and​ the​ context​ we​ operate​ in,”​ expressed​ Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank.

“Receiving​ this​ award​ serves​ as​ a​ testament​ to​ the​ unwavering​ hard​ work​ and​ dedication​ of​ our​ team,​ who​ continuously​ strive​ to​ provide​ our​ customers​ with​ the​ best​ banking​ experience.​ We​ remain​ committed​ to​ making​ valuable​ contributions​ to​ the​ country's​ ongoing​ economic​ development,"​ Azhikhanov​ added.

​The magazine's write-up on ABA Bank's award this year remarked that "ABA is a deserving recipient of Asiamoney's Best Bank award for multiple reasons, with particular emphasis on its exceptional digital proposition. The Bank's platforms have played a crucial role in reshaping Cambodia's financial landscape. In 2022 alone, the number of transactions on the ABA Mobile app almost doubled. And the amount of those transactions via the most-used app in the nation was more than six times Cambodia’s annual gross domestic product.”

In 2022, ABA also excelled by virtually every metric. Total assets grew 15% year on year, to $9 billion in calendar year 2022. ABA’s deposit portfolio jumped 17% to $7.3 billion, while gross loans increased 22% to $6.5 billion. Its net profit of $262.3 million in fiscal year 2022 was top among Cambodian commercial banks for a third consecutive year.

ABA​ is​ fully​ devoted​ to​ providing​ innovative​ solutions​ that​ cater​ to​ the​ ever-evolving​ needs​ of​ its​ customers.​ Through​ its​ dedication​ to​ excellence,​ ABA​ has​ established​ itself​ as​ the​ top​ domestic​ Bank​ in​ Cambodia.

About​ Asiamoney​
For​ over​ three​ decades,​ Asiamoney​ has​ been​ the​ voice​ of​ Asia's​ banking​ and​ capital​ markets​ industries.​ During​ that​ time,​ this​ publication​ has​ been​ instrumental​ in​ covering​ developments​ in​ finance​ in​ the​ world's​ most​ exciting​ region.​ Each​ issue​ of​ Asiamoney​ contains​ in-depth​ reports​ and​ banking​ awards​ in​ up​ to​ six​ markets​ in​ Asia-Pacific.​ Asiamoney's​ award​ decisions​ are​ made​ by​ a​ team​ of​ senior​ journalists,​ chaired​ by​ Euromoney's​ editor,​ after​ receiving​ detailed​ submissions​ from​ market​ participants​ and​ in​ conjunction​ with​ research​ into​ the​ banking​ and​ capital​ markets​ by​ the​ editorial​ committee.​ Senior​ editors​ also​ visited​ each​ country​ or​ territory​ to​ meet​ leading​ bankers​ and​ gather​ client​ and​ competitor​ feedback.

1​ ABA​ Bank​ is​ the​ largest​ commercial​ bank​ in​ Cambodia​ by​ total​ assets,​ gross​ loans,​ customer​ deposits,​ and​ profitability​ based​ on​ the​ National​ Bank​ of​ Cambodia’s​ Annual​ Supervision​ Report​ 2022.