ABA is the Bank of the Year 2019 in Cambodia by The Banker
29/Nov/2019
ABA Bank, the third largest commercial bank in Cambodia and a subsidiary of National Bank of Canada, was named the Bank of the Year 2019 in Cambodia by world’s premier financial magazine The Banker owned by Financial Times Group (London, United Kingdom). The award was presented to ABA during the annual ceremony in London that gathered the most prominent bank executives from all over the globe.
The judging panel highly praised ABA’s strategic focus on technologies, significant enhancement of ABA Mobile banking application and introduction of several convenient features such as free issuance of virtual cards in the app, fee waiving for E-Cash transactions and others, as well as ambitious network expansion, and success of ABA’s eCommerce solution, PayWay, in the market.
Askhat Azhikhanov, CEO of ABA Bank commented on the occasion, “In the past few years, ABA has clearly become a market frontrunner thanks to its customer-centric approach and early move into mobile banking. The bank invests heavily in new technologies, adopts an agile strategy, and, as a result, outperforms in financial digitalization. Our digital excellence is perfectly coupled with the lending strategy of providing productive loans to microbusinesses and SMEs in real sectors of the economy.”
“It is an honor to receive such recognition from the most respectable financial magazine, and I would like to express my gratitude to our clients for their trust and to our team for their commitment,” he added.
In its write-up about the award this year, The Banker’s Editor said, “ABA Bank undertook an ambitious expansion programme to bring the bank’s facilities closer to its customers across Cambodia.
The bank’s expansion was not limited to its physical presence, as it also moved to create a wider network of digital services. The bank’s ABA Mobile app grew during the year – the use of virtual cards was expanded, with app users now able to have up to 10 virtual cards they can use for a variety of functions, including online purchases. To encourage Cambodians to move away from cash transactions, the bank also expanded its PayWay facility for the e-commerce sector.”
The “Bank of the Year 2019” awards adds to the two top awards from The Banker ABA received in 2014 and 2016. The Bank also holds five consecutive “Best Bank in Cambodia” titles from Global Finance and six consecutive “Best Bank in Cambodia” awards from Euromoney magazines.
ABA Bank’s has total assets of US$ 4.11 billion (as of 31 October 2019) and is currently serving more than 700,000 customers through the extensive network of 74 branches, 550+ self-banking spots, and advanced online banking and mobile banking platforms.
About The Banker magazine
The Banker magazine is the world’s premier banking and finance resource of Financial Times Group. Established in 1929, the publication has become the trusted source of banking information and read by CEOs, CFOs, corporate treasurers, central bank governors and financial regulators in over 180 countries around the world.
Every month, the magazine combines in-depth regional and country coverage with reports on capital markets and structured finance, risk management, working capital management and securities services, environmental finance, trade and project finance, trading, technology and management and governance issues as well as closely monitors the performances of the top 1,000 world banks.
