ABA​ Bank​ and​ Chevron​ Cambodia​ launch​ Distributor​ Financing​ Program​

02/Sep/2024

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ABA​ Bank,​ the​ largest​ commercial​ bank​ in​ Cambodia,​ signed​ a​ Memorandum​ of​ Understanding​ (MoU)​ with​ Chevron​ Cambodia​ to​ enhance​ financial​ services​ for​ their​ retailers​ through​ a​ specialized​ Distributor​ Financing​ Program.

On​ 29​ August​ 2024,​ the​ signing​ ceremony​ was​ held​ in​ the​ presence​ of​ ABA​ Bank's​ Chief​ Corporate​ Banking​ Officer,​ Huot​ Chanthida,​ and​ Chevron's​ Finance​ Director,​ Chito​ Padie,​ and​ their​ respective​ teams.​ The​ event​ garnered​ over​ 35​ Chevron​ retailers​ –​ station​ owners​ and​ managers​ across​ Cambodia​ to​ learn​ more​ about​ the​ Program.

ABA​ Distributor​ Financing​ Program​ is​ a​ tailor-made​ financing​ solution​ designed​ to​ facilitate​ and​ align​ with​ the​ operating​ requirements​ of​ the​ distributors​ following​ Chevron's​ business​ model.​ For​ this​ Program​ with​ Chevron,​ ABA​ will​ offer​ customized​ banking​ solutions​ exclusively​ to​ Chevron's​ retailers,​ including​ working​ capital​ loans,​ business​ expansion​ loans,​ and​ performance​ guarantee​ facilities.

The​ Program​ is​ tailored​ to​ support​ each​ retailer's​ capital​ needs​ and​ expenditures​ and​ ensure​ they​ will​ benefit​ from​ flexible​ and​ better​ loan​ terms​ and​ conditions,​ lower​ interest​ rates​ and​ fees,​ as​ well​ as​ a​ smooth​ and​ fast​ process​ flow.

“ABA​ Distributor​ Financing​ Program​ stands​ out​ for​ its​ flexibility​ and​ swift​ access​ to​ funds,​ designed​ to​ enhance​ cash​ flow​ for​ Caltex​ stations,​ support​ the​ expansion​ of​ new​ and​ existing​ stations,​ and​ provide​ other​ necessary​ banking​ facilities,”​ ABA's​ Huot​ Chanthida​ stated​ in​ her​ welcome​ remark.

“By​ offering​ tailored​ financial​ solutions,​ we​ enable​ businesses​ to​ meet​ their​ financial​ needs​ promptly​ for​ daily​ operations​ or​ growth​ projects,”​ she​ added.

Chevron's​ Chito​ Padie​ commented,​ “Expanding​ your​ station​ can​ significantly​ increase​ your​ market​ presence​ and​ customer​ base.​ We​ believe​ that​ this​ financing​ program​ will​ be​ a​ game-changer​ for​ our​ retailers,​ enabling​ you​ to​ grow​ and​ thrive​ in​ a​ competitive​ market.”

ABA​ Bank​ remains​ steadfast​ in​ providing​ robust​ financial​ services​ and​ tailored​ solutions​ to​ businesses​ of​ all​ types,​ ensuring​ significant​ benefits​ for​ everyone.​

For​ any​ questions​ related​ to​ corporate​ banking​ solutions​ and​ financing​ programs,​ please​ contact​ ABA​ on​ 010​ 630​ 772​ or​ via​ phal.tipdarath@remove-this.ababank.com.