ABA​ awarded​ as​ one​ of​ the​ Top​ Performing​ Financial​ Institutions​ in​ 2022​ by​ CGCC

23/Jan/2023

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ABA​ Bank,​ the​ largest​ Cambodian​ commercial​ bank1,​ was​ honored​ with​ the​ Trophy​ Awarding​ of​ Top​ Performing​ Financial​ Institutions​ in​ 2022​ at​ the​ Annual​ Seminar​ on​ “Role​ of​ Credit​ Guarantee​ Schemes​ in​ SMEs​ Development​ in​ Cambodia​ and​ ASEAN”​ organized​ by​ the​ Credit​ Guarantee​ Corporation​ of​ Cambodia​ (CGCC)​ on​ 17​ January​ 2023​ in​ Phnom​ Penh.

The​ seminar​ was​ graced​ by​ H.E.​ Dr.​ Mey​ Vann,​ Secretary​ of​ State​ of​ the​ Ministry​ of​ Economic​ and​ Finance,​ delegations​ from​ the​ National​ Bank​ of​ Cambodia,​ Banks​ and​ Financial​ Institutions,​ and​ associations​ of​ many​ participants.

The​ award​ reflected​ the​ effort​ and​ active​ role​ of​ ABA​ in​ supporting​ micro,​ small​ and​ medium​ enterprises​ (MSMEs)​ and​ large​ companies​ in​ Cambodia​ on​ business​ expansion,​ investment,​ and​ working​ capital​ through​ the​ loans​ guaranteed​ by​ CGCC.

At​ the​ seminar,​ CGCC​ also​ announced​ the​ launch​ of​ the​ Portfolio​ Guarantee​ Scheme​ (PGS)​ that​ enables​ Participating​ Financial​ Institutions​ (PFIs)​ to​ customize​ guaranteed​ loans​ for​ their​ targeted​ borrowers​ and​ allow​ quick,​ efficient,​ and​ flexible​ disbursement​ of​ guaranteed​ loans.

It​ also​ aimed​ to​ review​ the​ CGCC’s​ annual​ guarantee​ progress,​ discuss​ the​ challenges​ and​ solutions​ on​ the​ implementation​ of​ credit​ guarantee​ schemes,​ share​ views​ on​ credit​ guarantee​ schemes​ in​ SMEs​ development​ as​ well​ as​ study​ the​ experiences​ of​ credit​ guarantee​ schemes​ in​ Malaysia​ and​ Thailand.

Over​ the​ years,​ the​ Bank​ has​ been​ providing​ SME​ businesses​ with​ easier​ access​ to​ loans​ and​ is​ committed​ to​ benefiting​ Cambodia​ and​ its​ people​ in​ line​ with​ ABA’s​ corporate​ mission​ and​ values.

Customers​ can​ get​ more​ information​ and​ how​ to​ get​ loan​ to​ expand​ their​ businesses​ by​ visiting​ Small​ Business​ Loan​ webpage​ or​ call​ our​ toll-free​ number​ 1​ 800​ 203​ 203​ (inside​ Cambodia).

About​ CGCC
CGCC​ is​ the​ Kingdom’s​ first​ credit​ guarantee​ corporation,​ and​ a​ state-owned​ enterprise​ operated​ under​ Ministry​ of​ Economy​ and​ Finance’s​ technical​ and​ financial​ guidance.​ CGCC’s​ main​ mission​ is​ to​ provide​ credit​ guarantees​ to​ PFIs​ to​ support​ and​ assist​ financially​ viable​ businesses​ that​ lack​ collateral​ when​ applying​ for​ loans.
Cambodian​ Business​ owners,​ including​ SMEs​ with​ more​ than​ 50%​ ownership,​ are​ encouraged​ to​ apply​ for​ guaranteed​ loans​ with​ ABA​ bank​ by​ visiting​ www.ababank.com​ or​ www.cgcc.com.kh​ for​ more​ information.
By​ the​ end​ of​ December​ 2022,​ CGCC​ has​ provided​ guarantees​ on​ 985​ business​ loans​ with​ a​ total​ loan​ amount​ of​ more​ than​ USD​ 92​ million,​ most​ of​ which​ are​ loans​ without​ sufficient​ collateral.

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​ 2021.