Euromoney names ABA “Best Bank in Cambodia 2019”
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.