The Banker magazine named ABA Cambodia's Bank of the Year 2021
ABA Bank, Cambodia's leading commercial bank and a subsidiary of National Bank of Canada, clinched the prestigious "Bank of the Year 2021 in Cambodia" award from The Banker, the world's premier banking and financial affairs publication of Financial Times Group (London, UK). This year, the magazine received submissions for the award from more than 130 countries, and the winners were announced via a virtual ceremony on 1 December.
ABA Bank was praised for its strategic focus on innovative technologies and digital products and services, significant efforts to increase financial inclusion, and solid growth.
In 2021, the Bank made significant enhancements to its mobile banking application, specifically to increase financial inclusion via the launch of Instant Account. This feature of ABA Mobile allows first-time users to open a bank account in several minutes and without visiting a bank branch.
In addition, the PayWay online platform of ABA Bank was enriched with the 'Credentials on File' feature, which enables the automatic processing of recurring or future payments, and the launch of the PayWay Mobile app. PayWay Mobile allows businesses of any size to accept cashless payments in KHR and USD by generating QR codes in the app.
In response to the challenges created by the Covid pandemic, ABA introduced Payment Link to PayWay Mobile to allow sellers and service providers to facilitate instant payments. The seller can include a product description, photograph, and price in the link and share it on favorite messaging apps and social media platforms with their customers.
Askhat Azhikhanov, CEO of ABA Bank, acknowledged the recognition, "We are honored to become Cambodia's Bank of the Year by The Banker again. This year's award proves that ABA can rise to the challenge by continuing its client-centric approach and offering convenient digital financial solutions. As always, we dedicate this accolade to our valued customers and thank them for their trust and support.
"There is still a lot to be done regarding financial inclusion, and we believe that the trend in the industry for more focus on digital payments will continue. ABA Bank is well-positioned to lead the development in this direction," he added.
The Banker's award is the industry benchmark from the world's longest-running international banking publication, and ABA has collected its top-notch trophies in 2014, 2016, and 2019.
ABA Bank has total assets of US$ 7.5 billion as of 30 November 2021 and is currently managing more than 2.75 million accounts through the extensive network of 80 branches, 820+ self-banking machines, and advanced business 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 worldwide.
The Banker is the key source of data and analysis for the industry. The Banker's Top 1000 World Banks ranking has been setting the benchmark since 1970, providing comprehensive intelligence about the health and wealth of the banking sector. To find out more, visit www.thebanker.com/top1000. The Banker is a service from the Financial Times.