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