ABA recognized as the “Best Bank in Cambodia 2021” by Global Finance
ABA Bank, a subsidiary of the National Bank of Canada, received the “Best Bank in Cambodia 2021” accolade from Global Finance, one of the world’s reputable financial magazines. This recognition becomes the seventh consecutive award of the Bank from Global Finance.
This top honor was given to ABA Bank for carefully attending to the needs of its customers and achieving better results each year while paving the groundworks for future success despite the global pandemic.
In selecting the best banks, the editors of Global Finance made the decision based on consultations with analysts around the world, objectively evaluated ABA Bank in a variety of factors including growth in assets and profitability, geographic reach, innovation in products, as well as on subjective criteria such as opinions from equity analysts, credit rating analysts, and others involved in the industry.
Among others, Global Finance noted the following achievements of ABA in 2020 that helped it to secure the Best Bank title:
- Launch of the network of self-banking spots called ABA 24/7. Located in high-traffic areas, these spots allow ABA customers to deposit and withdraw cash and deposit bank checks issued by any Cambodian bank and save time on visiting the bank branches.
- Launch of numerous new useful features in the ABA Mobile app, including Instant Loan, multiple domestic and international money transfers, Visa Direct service, and Special Account Number.
- Launch of the PayWay Mobile app that allows businesses of any size to accept cashless payment in USD and KHR from their customers by generating QR codes on smartphones.
- Massive roll-out of self-banking facilities including Cash Recycling Machines, Cash-in Machines, and Check Deposit Machines.
- Boost of the QR code acceptance network throughout the country. By the end of 2020, more than 60,000 merchants accepted cashless payments made via ABA PAY feature of ABA Mobile.
“It’s our honor to receive Global Finance’s the Best Bank in Cambodia 2021 award after a year distinguished by challenges caused by the pandemic,” said Askhat Azhikhanov, CEO of ABA Bank. “It becomes a confirmation of the quality of our services and encourages us to keep developing innovative and competitive products and solutions for our clients, for whom we constantly strive to be even better.”
Joseph D. Giarraputo, Publisher and Editorial Director of Global Finance said, “Banks are playing a key role in economic recovery around the world. Our Best Bank awardees, such as ABA Bank is one of such banks highlighted as the leaders in restoring growth and mapping a way forward. This year’s evaluations are more important and valuable than at any point in the 28-year history, given the unprecedented economic conditions wrought by the global pandemic.”
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 189 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website GFMag.com offers analysis and articles that are the legacy of 34 years of experience in international financial markets. 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.