ABA​ shareholders'​ capital​ reaches​ $1.7​ billion,​ reflecting​ growth​ and​ contribution


ABA Capital Increase EN

ABA Bank announces the successful increase of its paid-up capital from $660 million as of January 1, 2023, to $1.1 billion today with an additional injection from its shareholder, National Bank of Canada. The​ capital​ injection​ has​ been​ made​ recently​ following​ the​ regulatory​ approval​ of​ the​ National​ Bank​ of​ Cambodia,​ the​ country's​ central​ bank.

"ABA​ Bank​ is​ thrilled​ to​ announce​ the​ significant​ increase​ of​ its​ paid-up​ capital​ up​ to​ $1.1​ billion.​ It​ comes​ in​ the​ form​ of​ the​ conversion​ of​ the​ bank's​ retained​ earnings​ by​ $250​ million​ and​ the​ new​ capital​ by​ $190​ million.​ As​ a​ result,​ the​ total​ shareholders'​ capital,​ together​ with​ regulatory​ reserves​ and​ accumulated​ net​ income,​ has​ reached​ $1.7​ billion​ as​ of​ today,"​ commented​ Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank.

This​ momentous​ capital​ increase​ highlights​ ABA's​ remarkable​ growth​ trajectory​ and​ commitment​ to​ meeting​ its​ customers'​ surging​ demand.​ With​ the​ enlarged​ capital​ base,​ ABA​ Bank​ is​ poised​ to​ further​ accelerate​ its​ physical​ presence​ by​ opening​ new​ branches​ and​ self-service​ outlets​ while​ introducing​ new​ innovative​ and​ convenient​ banking​ products.​

"The​ capital​ increase​ extends​ numerous​ benefits.​ It​ strengthens​ our​ financial​ resilience,​ fuels​ our​ expansion​ plans,​ and​ showcases​ our​ commitment​ to​ regulatory​ compliance.​ It​ also​ underscores​ the​ continuous​ support​ of​ our​ esteemed​ shareholder,​ National​ Bank​ of​ Canada.​ We​ remain​ dedicated​ to​ delivering​ exceptional​ banking​ experiences​ and​ are​ excited​ for​ the​ opportunities​ this​ capital​ infusion​ brings​ to​ better​ serve​ our​ valued​ customers,"​ Azhikhanov​ added.

It​ is​ worth​ noting​ here​ that​ National​ Bank​ of​ Canada​ significantly​ contributes​ to​ the​ country's​ economy​ through​ the​ solid​ growth​ of​ ABA​ Bank.​ "In​ addition​ to​ regular​ paid-up​ capital​ injections,​ our​ shareholder​ strategically​ re-invests​ all​ profits​ and​ provides​ capital​ in​ the​ form​ of​ subordinated​ debt,"​ stated​ Madi​ Akmambet,​ Executive​ Director​ at​ ABA​ Bank.​

"Since​ 2014​ when​ National​ Bank​ of​ Canada​ became​ a​ shareholder​ of​ ABA,​ it​ has​ been​ growing​ its​ equity​ to​ $1.7​ billion​ and​ providing​ $185​ million​ as​ subordinated​ debt.​ All​ this​ capital​ supports​ ABA's​ business​ growth​ and​ development​ in​ terms​ of​ human​ talent​ capacity,​ branch​ network,​ and​ IT​ and​ digital​ infrastructure,"​ Akmambet​ concluded.

According​ to​ the​ National​ Bank​ of​ Cambodia's​ Annual​ Supervision​ Report​ 2022,​ ABA​ is​ the​ largest​ commercial​ bank​ in​ Cambodia​ by​ total​ assets,​ loans,​ deposits,​ and​ profitability.​ Through​ its​ customer-centric​ approach,​ comprehensive​ banking​ products,​ and​ embrace​ of​ technological​ advancements,​ the​ bank​ has​ experienced​ rapid​ expansion​ and​ garnered​ widespread​ acclaim.​ Today,​ ABA​ serves​ 3​ million​ customers​ with​ a​ deposit​ base​ of​ $8.2​ billion.​ ABA's​ loan​ portfolio​ is​ $7.2​ billion,​ which​ is​ fully​ funneled​ to​ the​ Cambodian​ economy​ and​ represents​ about​ 22%​ of​ the​ country's​ GDP.​

ABA​ Bank​ management​ profoundly​ praises​ the​ Royal​ Government​ of​ Cambodia​ for​ its​ policy​ of​ achieving​ economic​ growth,​ peace,​ and​ political​ stability.

​ABA​ also​ admires​ the​ National​ Bank​ of​ Cambodia​ for​ creating​ fair​ competition,​ maintaining​ the​ financial​ stability​ of​ the​ market,​ and​ supporting​ sustainable​ and​ inclusive​ growth​ in​ the​ financial​ sector.​

Ultimately,​ the​ bank​ extends​ gratitude​ to​ its​ loyal​ customers​ for​ their​ unwavering​ trust​ and​ support.​ It​ remains​ resolute​ in​ delivering​ its​ modern​ banking​ products​ and​ services​ for​ the​ benefit​ of​ individuals​ and​ businesses​ across​ Cambodia.