ABA​ Bank​ and​ Bank​ of​ China​ sign​ MOU​ on​ KHR-RMB​ service​ cooperation

ABA​ Bank,​ Cambodia’s​ largest​ commercial​ bank​¹,​ and​ Bank​ of​ China​ Phnom​ Penh​ Branch,​ which​ serves​ as​ a​ local​ RMB​ (Renminbi)​ clearing​ bank,​ signed​ a​ Memorandum​ of​ Understanding​ (MOU)​ on RMB Business Cooperation to further enhance cross-border payments between Cambodia and China.

The​ signing​ ceremony​ occurred​ on​ 22​ November​ 2024.​ It​ was​ attended​ by​ Zhiger​ Atchabarov,​ Chief​ Operating​ Officer​ at​ ABA​ Bank,​ Liu​ Daozhi,​ Chief​ Executive​ Officer​ of​ Bank​ of​ China,​ representatives​ of​ the​ National​ Bank​ of​ Cambodia,​ and​ other​ distinguished​ guests.​

This​ strategic​ partnership​ aims​ to​ facilitate​ cross-border​ trade​ and​ investment​ by​ enabling​ seamless​ Khmer​ Riel​ -​ Renminbi​ transactions.​ This​ will​ provide​ ABA​ customers​ with​ a​ comprehensive​ range​ of​ RMB-denominated​ financial​ services,​ including​ direct​ currency​ exchange​ transactions,​ and forward​ exchange​ settlement.​ The​ cooperation​ also​ paves​ the​ way​ for​ ABA​ and​ the​ Bank​ of​ China​ to​ jointly​ develop​ custom​ financial​ products​ in​ Riel​ and​ Renminbi​ for​ the​ benefit​ of​ their​ customers.

ABA​ Bank​ remains​ committed​ to​ providing​ convenient​ customer-centric​ financial​ solutions,​ and​ the​ partnership​ with​ Bank​ of​ China​ underscores​ its​ dedication​ to​ delivering​ exceptional​ customer​ service.

_{¹​ ABA​ Bank​ is​ the​ largest​ commercial​ bank​ in​ Cambodia​ in​ terms​ of​ total​ assets,​ gross​ loans,​ customer​ deposits,​ and​ profitability​ based​ on​ the​ National​ Bank​ of​ Cambodia’s​ Annual​ Supervision​ Report​ 2021-2023.}