ABA named Domestic Retail Bank of the Year 2023 by Asian Banking and Finance magazine
27/Jul/2023
ABA Bank has been awarded the prestigious "Domestic Retail Bank of the Year 2023 - Cambodia" award from the Asian Banking and Finance magazine. The title became the third consecutive recognition from the esteemed magazine for the bank.
ABA Bank's consistent growth and dedication to innovation have solidified its position as a leading institution in Cambodia's banking sector. The bank's commitment to launching innovative financial products and services, even in the face of global economic challenges, has been recognized by the judging panel of Asian Banking and Finance.
In particular, the magazine mentioned the continuous enhancement of the ABA Mobile app as the key driver of ABA Bank's success in the retail segment. Throughout 2022, the bank introduced an array of new services and features to the app to make its usage even more seamless and convenient for users.
Furthermore, ABA enlarged its physical presence with the official launch of four new full-scale branches and 16 ABA 24/7 self-service spots.
ABA Card Machines have also contributed to the bank's growth in the recent year. ABA became the first bank in the Kingdom to introduce such a self-service machine. It allows ABA customers to issue local and international plastic cards by themselves in less than two minutes with no branch staff interaction.
In addition, ABA has significantly expanded its cashless QR payment acceptance, with over 600,000 offline and online merchants now accepting payments through ABA. The ABA Merchant app, a perfect solution for businesses of any kind to collect cashless payments and manage business easily, has also seen a 59% growth in active users within the year.
"We are proud to become the Domestic Retail Bank of the Year 2023 again. The increasing adoption of digital finance solutions by Cambodians, with our ABA Mobile app as their preferred choice, reinforces our commitment to delivering exceptional customer experiences," stated Askhat Azhikhanov, CEO of ABA Bank.
"This recognition is a testament to our efforts to make banking more convenient and accessible to our valued customers, and we dedicate this award to all of them," Azhikhanov concluded.
Throughout 2022, ABA Bank demonstrated outstanding performance across all key metrics. The bank's total assets experienced a remarkable 15% growth compared to the previous year, reaching US$9 billion at the end of 2022. The deposit portfolio soared by 17% to US$7.3 billion, while gross loans witnessed a substantial 22% increase since the end of 2021, amounting to US$6.5 billion.
In its write-up about ABA Bank's award this year, the magazine commented, “ABA Bank's unwavering commitment to innovation, user-centric solutions, and unparalleled excellence earned it the distinguished title of Domestic Retail Bank of the Year - Cambodia at the ABF Retail Banking Awards 2023. These exceptional accomplishments reaffirm the bank's position as Cambodia's leading financial institution and its dedication to providing convenient digital banking solutions to its valued customers.”
With remarkable achievements and a continuous focus on customer-centric digital solutions, ABA Bank remains at the forefront of Cambodia's banking sector.
As it continues to expand and innovate, ABA Bank is poised to shape the future of retail banking in Cambodia, setting new benchmarks for excellence in the industry.
