Euromoney​ names​ ABA​ “Best​ Bank​ in​ Cambodia​ 2019”

17/07/2019

Best​ Bank​ in​ Cambodia​ 2019 2

ABA​ Bank,​ a​ member​ of​ National​ Bank​ of​ Canada​ Group,​ announces​ that​ it​ received​ the​ “Best​ Bank​ in​ Cambodia​ 2019”​ title​ by​ Euromoney,​ one​ of​ the​ world’s​ most​ prominent​ and​ trustworthy​ financial​ magazines.​ The​ award​ ceremony​ for​ winners​ across​ Asia​ took​ place​ in​ Hong​ Kong​ on​ 16​ July​ 2019.

Euromoney​ applauded​ ABA​ for​ its​ clear​ advantage​ in​ digital​ banking,​ solid​ expansion,​ and​ remarkable​ growth​ within​ the​ last​ year.​ The​ experts​ especially​ praised​ the​ dominance​ of​ ABA​ Mobile​ app​ in​ the​ market,​ promotion​ and​ use​ of​ QR​ codes​ and​ cashless​ payments,​ and​ upgrade​ of​ the​ Bank’s​ e-commerce​ gateway,​ PayWay.

Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank​ commented​ on​ the​ award,​ “We​ are​ glad​ that​ the​ products​ we​ introduce​ and​ the​ ways​ we​ interact​ with​ our​ customers​ were​ recognized​ as​ the​ best​ in​ the​ country​ by​ the​ respected​ financial​ publication.​ We​ managed​ to​ develop​ a​ new​ standard​ of​ retail​ banking​ in​ Cambodia​ by​ providing​ reliable​ and​ easy-to-use​ financial​ services​ to​ our​ customers.​ Heavily​ relying​ on​ digital​ and​ technologies,​ we​ offer​ the​ best​ solutions​ in​ the​ market,​ which​ strengthens​ our​ position​ and​ ensures​ the​ growth​ of​ market​ share​ and​ business​ profitability.​ Our​ client​ base​ grew​ by​ 76%​ last​ year,​ and​ we​ thank​ every​ single​ customer​ for​ their​ choice​ to​ bank​ with​ us.”

The​ award​ decision​ was​ made​ by​ Euromoney​ after​ the​ assessment​ of​ ABA​ Bank’s​ core​ activities​ over​ the​ past​ 12​ months.​ The​ judges​ include​ a​ team​ of​ senior​ journalists,​ chaired​ by​ Euromoney’s​ editor,​ in​ conjunction​ with​ the​ editorial​ committee’s​ research​ into​ the​ banking​ and​ capital​ markets.

“Clearly​ the​ strongest​ bank​ in​ Cambodia,​ ABA​ benefits​ from​ strong​ shareholders,​ good​ practices​ and​ a​ buoyant​ market,”​ Clive​ Horwood,​ the​ Editor​ of​ Euromoney​ commented​ on​ the​ award.​ “During​ our​ review​ period,​ ABA’s​ USD​ 71.82​ million​ in​ net​ profit​ represented​ a​ remarkable​ 55%​ year-on-year​ increase,​ achieving​ 28%​ return​ on​ equity.​ Rapid​ expansion​ is​ clearly​ a​ large​ part​ of​ the​ ABA​ plan:​ the​ bank​ opened​ fifteen​ new​ branches​ last​ year​ and​ extended​ hours​ of​ operation​ at​ busy​ branches.​ On​ top​ of​ it,​ ABA​ embraces​ digital​ more​ than​ any​ other​ local​ peer,​ based​ on​ its​ ABA​ Mobile​ app,”​ he​ added.

ABA​ Bank​ has​ been​ consecutively​ praised​ by​ Euromoney​ magazine​ since​ 2014​ when​ it​ received​ the​ first​ “Best​ Bank​ in​ Cambodia”​ trophy.​ The Bank also​ holds the​ Global​ Finance’s​ “Best​ Bank​ in​ Cambodia”​ title in​ 2015-2019​ and​ the​ “Bank​ of​ the​ Year”​ award​ from​ The​ Banker​ magazine​ in​ 2014​ and​ 2016.

About​ Euromoney​'s Awards​ for​ Excellence:
The​ 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​ around​ the​ world.​ 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.