Driving green economy forward: ABA Bank partners with ZO Motors Cambodia
06/Dec/2024
ABA Bank, Cambodia's largest commercial bank and leading digital finance provider, entered a strategic partnership through a Memorandum of Understanding (MoU) with ZO Motors, a Japanese manufacturer and distributor of zero-emission commercial trucks and electric charging stations.
This partnership aims to provide ZO Motors Cambodia with a comprehensive suite of financial services, including dedicated Chinese- and Japanese-speaking relationship managers, payroll service for office staff and factory workers, cash and liquidity management services, and others. ABA will also integrate its KHQR on charging station screens of ZO Motors Cambodia nationwide to facilitate smooth and seamless transactions.
Moreover, the Bank will support ZO Motors, its suppliers, and customers with credit and refinancing facilities for further growth where needed.
The MoU signing ceremony was held on 5 December 2024, with the attendance of ABA's Chief Executive Officer, Askhat Azhikhanov, and ZO Motors Cambodia's Chief Executive Officer, Zhao Wenbo, and their respective teams at the ABA Bank Head Office.
By utilizing the Bank's financial solutions, ZO Motors can boost its production and distribution of electric commercial trucks, driving the transition from fuel-based vehicles to electric technology and advancing the green economy in Cambodia.
These offerings address the growing demand for clean energy transportation and underscore both parties' commitment to supporting sustainable initiatives and boosting the green finance sector.
"At ABA Bank, we are excited to partner with forward-thinking organizations like ZO Motors, whose commitment to manufacturing zero-emission commercial vehicles demonstrates innovation and environmental responsibility," stated Askhat Azhikhanov, ABA Bank's CEO.
"Our partnership with ZO Motors represents more than a business agreement; it is a shared commitment to shaping a sustainable future. We believe this collaboration will benefit our customers and contribute to the nation's environmental goals," he concluded.
"In the energy sector, ZO Motors is steadfast in its mission to lead Cambodia's transformation toward sustainability. ZO Motors Cambodia has launched the ‘100 Stations, 1,000 Chargers' infrastructure initiative. Within the next two years, we aim to achieve comprehensive coverage of charging facilities across Cambodia's major transportation networks and key cities," mentioned Zhao Wenbo, ZO Motor Cambodia's CEO.
"This partnership embodies trust, mutual benefit, and shared ambition. ABA Bank's expertise and forward-thinking approach align seamlessly with ZO Motors' vision. Together, we will explore new strategies for financial growth and create sustainable, scalable business models for the future," Zhao continued.
About ABA
ABA Bank is Cambodia's largest commercial bank in terms of assets, deposits, loans, and profitability, according to the Annual Supervision Report 2021-2023 of the National Bank of Cambodia. The Bank's wide-reaching footprint covers 99 branches, 46 self-banking spots, 1,700+ self-banking machines, and advanced online and mobile banking platforms, providing more than 4 million customers with the convenience of modern financial services.
About ZO Motors
Zo Motors Cambodia, the first electric commercial vehicle assembled and distributed in Cambodia. Zo Motors Cambodia focuses on new energy commercial vehicles. Centered around smart new energy commercial vehicles, we integrate high-tech innovations such as intelligent connectivity and autonomous driving. With the support of international capital, we are proud to collaborate with top international new energy commercial vehicle supply chains and technologies, a testament to our commitment to excellence.
