Euromoney honors ABA with Best Bank in Cambodia 2021 title
ABA Bank, a subsidiary of National Bank of Canada, received the "Best Bank in Cambodia 2021" award from Euromoney, one of the world's most prominent financial magazines. The 2021 title makes it the eighth consecutive year that ABA Bank has been honored by this financial publication.
The award underscores ABA Bank's leadership in the Cambodian banking and finance industry. The judging panel highlighted the advantage ABA demonstrated with its digital banking and remote banking platforms. The experts appreciated, among others,
- ABA's continuous development of its flagship retail banking product, the ABA Mobile app,
- the introduction of Instant Account feature for new-to-bank customers,
- the launch of the PayWay Mobile application, and
- revamp of the Internet Banking for Business platform.
In the reporting period, the Bank also successfully launched the new network of self-banking spots called ABA 24/7. The sites are located in high-traffic areas of major cities and provide round-the-clock access to customers' accounts via a wide range of self-banking machines, including ATMs, Cash Recycling Machines, and Check Deposit Machines.
As Euromoney mentioned in its write-up, "ABA wins our Cambodia award with striking reliability, and a brief look at the numbers explains why. Total assets grew by 40% through 2020 to $6.1 billion, deposits were up 43% to $4.9 billion, and gross loans 39% to $3.8 billion.
"ABA has always been a local pioneer on the digital side, and Covid universally rewarded banks with strength in this area. The ABA Mobile app is filled with features that would not look out of place in Hong Kong or Singapore, and the bank has been deft in making sure it supports the Chinese language. ABA also got on the right side of e-commerce with its PayWay platform and relaunched its Internet Banking for Business platform."
Askhat Azhikhanov, Chief Executive Officer of ABA Bank, commented, "The Euromoney award highlights our firm commitment to being the Best Bank for our customers. We have been using our advanced digital capabilities to support clients through these tough pandemic times, as we fully understand the importance of accessibility and reliability of bank services at all times. That is why we continued investing in our apps, the iBanking platform, and rolled out the ABA 24/7 self-service network to reach and serve a broader customer base.
"I would like to thank our valued customers for their trust and confidence in everything we do and provide," Azhikhanov added.
As a prominent Cambodian bank, ABA provides innovative and convenient digital financial services to SMEs, micro businesses, and individuals. As of June 30, 2021, ABA Bank managed US$ 6.9 billion in total assets.
About Euromoney's Awards for Excellence:
Euromoney's Awards for Excellence were established in 1992 and are the global benchmark for the banking industry. These annual awards cover more than 20 global product categories, best-in-class awards in all regions , and the best banks in close to 100 countries worldwide. Euromoney's award decisions are made by a committee of senior journalists, chaired by Euromoney's editor, following the receipt of detailed submissions from market participants and extensive year-round research into the banking and capital markets in the region by editors, journalists, and research team.