ABA Bank's strong market position reaffirmed by S&P Global Ratings
24/Aug/2023
The world's largest credit rating agency Standard and Poor's (S&P Global) reaffirmed 'B+' credit rating of ABA Bank according to the research update released on 15 August 2023.
The credit rating outlook remains Stable and underscores the expectation of the experts that ABA will maintain its strong financial profile over the next 12-18 months.
In addition, the agency confirmed the strategic importance of ABA Bank to the National Bank of Canada group. "National Bank of Canada has increased its stake in ABA steadily since it first invested in 2014. Its latest capital infusion was in June 2023. It has infused US$470 million since 2018. This underscores National Bank of Canada's commitment to ABA, as well as its brand association, and close oversight," concludes S&P.
The research update states that ABA is the largest bank in Cambodia. The financial institution's digital platforms and transactional banking have enabled it to offer innovative and convenient products and services and reduce incremental operating costs. These capabilities form the cornerstone of its business expansion.
The affirmation of the B+ rating from S&P Global Ratings is a positive sign for ABA customers. It means that the Bank is financially sound and has a strong foundation. The Stable outlook also indicates that S&P Global Ratings expects ABA to perform well in the future.
ABA is committed to sustainable growth and has a strong track record of profitability. The bank is well capitalized and has a low level of non-performing loans.
Recently, ABA has continuously increased its paid-up capital with supports of shareholders. This has propelled the bank's total capital to $1.7 billion as of August 2023.
About S&P Global Ratings
With more than 1 million credit ratings outstanding on government, corporate, financial sector , and structured finance entities and securities, S&P Global Ratings is the world's leading provider of credit ratings. Its credit risk analyses, research , and insights support the growth of transparent, liquid debt markets worldwide. S&P Global Ratings has approximately 1,500 credit analysts in 28 countries around the globe. Its Head Office is headquartered in New York City, USA. For more information, visit www.spratings.com.
