Global Finance magazine crowns ABA as Best Bank in Cambodia 2024


aba global finance 2024 dt en

ABA Bank, the country's largest commercial bank and leading digital financial provider, has been named "Best Bank in Cambodia 2024" by the Global Finance magazine. This prestigious recognition was presented at the 31st annual Awards for the World's Best Banks event in New York.

ABA was recognized for its exceptional performance in the Cambodian market, consistently meeting the evolving needs of its customers. The Global Finance judges applauded ABA's outstanding performance over the year marked by recent innovative developments.

These include the revamped ABA Mobile new version 5.0, allowing customization for a more personal and intuitive banking experience.

The Bank launched new services and features on ABA Mobile, such as cross-border QR payments in Thailand and the ABA Cashback program, where users can discover instant cashback options from a diverse range of merchant partners with ABA KHQR.

Additionally, ABA introduced data-free access to ABA Mobile for Smart and Metfone subscribers, which allows uninterrupted access to essential banking services even with depleted mobile data.

In 2023, ABA significantly expanded its digital ecosystem. More than 700,000 merchants now collect cashless payments using KHQR stands, lanyards, POS terminals, and the ABA Merchant app. This app allows businesses and sellers to collect payments through ABA KHQR, manage refunds, download transaction reports, analyze their sales, and more.

In the corporate segment, the Bank introduced new services and improved the existing propositions. The ABA Business online banking platform was relaunched, bringing users new features and a modern interface. With Caltex Cambodia, ABA introduced Fleet Card – a credit card companies can use for fleet management and fuel expense control.

Furthermore, the Bank expanded its physical footprint nationwide, reaching 95 branches and 45 ABA 24/7 self-banking spots by the end of 2023. The total number of self-banking machines in the Bank's ecosystem reached 1,700. "We are honored to be recognized yet again as the Best Bank in Cambodia by Global Finance," said Askhat Azhikhanov, CEO of ABA Bank. "This award is a testament to the dedication and hard work of our entire team, and we are committed to continuing to provide our customers with the best possible banking experience."

"At ABA, we are laser-focused on delivering innovative solutions and a relentless pursuit of growth. We excel in leveraging technology to provide convenient and secure banking solutions," Azhikhanov added.

Joseph D. Giarraputo, founder and editorial director of Global Finance, stated, "In this ever-changing environment, the Best Bank Awards recognize the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation."

According to Global Finance, the winners of this year's awards are the banks that attended carefully to their customers' needs and accomplished strong results while laying the foundations for future success. Winning organizations managed their assets and liabilities in a savvy way in light of the fast-changing interest rate scenarios. Find here the official press release from Global Finance announcing the best banks in Asia-Pacific for 2024.

About ABA Bank
ABA is the largest commercial bank in Cambodia in terms of total assets, customers' deposits and loans, and profitability based on the National Bank of Cambodia's Annual Supervision Report 2021 and 2022. The bank is known for modern and convenient digital financial solutions catering to its customers' diverse needs. As of 31 December 2023, ABA managed $11.5 billion in total assets and had over 3.5 million retail and corporate customers.

About Global Finance
Founded in 1987, Global Finance has a circulation of 50,000 readers in 193 countries and territories. Global Finance's audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance is headquartered in New York, with offices around the world. It regularly selects the top performers among banks and other financial services providers. These awards have become a trusted standard of excellence for the global financial community.