ABA​ Bank named the 'Best​ Bank​ in​ Cambodia​ 2020'​ by​ Global​ Finance

24/03/2020

Best​ Bank​ in​ Cambodia​ 2020 1Best​ Bank​ in​ Cambodia​ 2020 1

ABA​ Bank,​ the​ third-largest​ Cambodian​ commercial​ bank​ and​ a​ subsidiary​ of​ National​ Bank​ of​ Canada,​ announces​ that​ it​ was​ named​ the​ “Best​ Bank​ in​ Cambodia​ 2020”​ by​ Global​ Finance,​ one​ of​ the​ world’s​ most​ prestigious​ financial​ magazine.​ ABA​ received​ this​ top-level​ award​ for​ attending​ carefully​ to​ the​ customers’​ needs​ and​ accomplishing​ better​ results​ while​ laying​ the​ foundations​ for​ future​ success.

The​ selection​ was​ made​ by​ the​ editors​ of​ Global​ Finance​ after​ extensive​ consultations​ with​ corporate​ financial​ executives​ across​ the​ world.​

Objective​ criteria​ considered​ included:​ innovation​ in​ products​ and​ services,​ strategic​ relationships,​ new​ business​ development,​ profitability,​ and​ geographic​ reach.​ Subjective​ criteria​ included​ the​ opinions​ of​ equity​ analysts,​ credit​ rating​ analysts,​ banking​ consultants,​ and​ others​ involved​ in​ the​ industry.

According​ to​ Global​ Finance,​ the​ success​ of​ ABA’s​ strategy​ is​ confirmed​ by​ the​ steady​ growth​ of​ all​ financial​ indicators,​ including​ the​ total​ assets,​ deposits,​ and​ loans,​ which​ were​ submitted​ to​ the​ judging​ panel.

Last​ year,​ ABA’s​ total​ assets​ grew​ 60​ per​ cent​ over​ the​ end​ of​ 2018​ and​ equaled​ $4.4​ billion.​ The​ deposit​ portfolio​ increased​ 55​ per​ cent​ to​ $3.4​ billion​ and​ the​ loan​ portfolio​ mounted​ up​ to​ $2.8​ billion,​ showing​ 50​ per​ cent​ growth​ since​ 31​ December​ 2018.

Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank,​ said:​ “This​ award​ is​ another​ proof​ of​ ABA’s​ sound​ leadership.​ We​ keep​ investing​ expertise​ in​ our​ extensive​ ecosystem,​ and​ our​ customers​ enjoy​ easy​ access​ to​ their​ funds​ through​ our​ branch​ network,​ advanced​ self-banking​ facilities​ and​ online​ banking​ platforms.​

This​ is​ our​ contribution​ to​ the​ continuous​ development​ of​ the​ financial​ sector​ of​ the​ country,​ and​ it​ is​ a​ great​ pleasure​ to​ realize​ that​ our​ efforts​ were​ recognized​ with​ the​ Best​ Bank​ title​ from​ Global​ Finance.​ We​ readily​ dedicate​ this​ award​ to​ our​ valued​ customers​ for​ their​ confidence​ and​ full​ support​ of​ our​ initiatives.”

“The​ world​ is​ entering​ increasingly​ more​ perilous​ territory.​ In​ these​ times,​ banks​ must​ play​ a​ key​ role​ in​ helping​ the​ society,”​ said​ Joseph​ D.​ Giarraputo,​ publisher​ and​ editorial​ director​ of​ Global​ Finance.

“Those​ like​ ABA​ Bank,​ which​ have​ been​ named​ the​ Best​ Bank​ by​ Global​ Finance,​ can​ be​ relied​ on​ to​ rise​ to​ the​ occasion​ and​ service​ and​ support​ their​ customers,”​ he​ added.

About​ Global​ Finance​
Global​ Finance,​ founded​ in​ 1987,​ has​ a​ circulation​ of​ 50,000​ and​ readers​ in​ 188​ countries.​ Global​ Finance’s​ audience​ includes​ senior​ corporate​ and​ financial​ officers​ responsible​ for​ making​ investment​ and​ strategic​ decisions​ at​ multinational​ companies​ and​ financial​ institutions.​ Global​ Finance​ is​ headquartered​ in​ New​ York,​ with​ offices​ around​ the​ world.​ Global​ Finance​ regularly​ selects​ the​ top​ performers​ among​ banks​ and​ other​ providers​ of​ financial​ services.​ These​ awards​ have​ become​ a​ trusted​ standard​ of​ excellence​ for​ the​ global​ financial​ community.