National​ Bank​ of​ Canada​ and​ ABA​ highlight favorable​ investment​ climate​ in​ Cambodia

10/Oct/2024

nbc aba inv cambo en-2nbc aba inv cambo en-2
nbc aba inv cambonbc aba inv cambo
h.e sun chantholh.e sun chanthol
nbc aba inv cambo thum ennbc aba inv cambo thum en

On​ 26-27​ September​ 2024,​ National​ Bank​ of​ Canada,​ the​ sixth-largest​ bank​ in​ Canada​ and​ shareholder​ of​ ABA​ Bank,​ participated​ in​ high-level​ meetings​ between​ Cambodian​ government​ officials​ and​ private​ sector​ representatives​ and​ Canadian​ investors.

H.E.​ Sun​ Chanthol,​ Deputy​ Prime​ Minister​ and​ First​ Vice​ Chairman​ of​ the​ Council​ for​ the​ Development​ of​ Cambodia​ led​ the​ Cambodian​ delegation​ at​ the​ Investment​ Roadshow​ in​ the​ US​ and​ Canada​ to​ showcase​ the​ country's​ investment​ potential.

As​ a​ leading​ financial​ institution​ with​ a​ significant​ presence​ in​ Cambodia,​ National​ Bank​ of​ Canada​ took​ the​ leading​ role​ in​ facilitating​ the​ meeting​ platforms.​ The​ representatives​ of​ ABA​ also​ participated​ in​ the​ events.

During​ the​ visit,​ H.E.​ Sun​ Chanthol​ met​ Laurent​ Ferreira,​ the​ President​ and​ CEO​ of​ National​ Bank​ of​ Canada,​ at​ National​ Bank​ Place,​ the​ bank's​ new​ headquarters​ in​ Montreal.​

The​ discussion​ underscored​ Cambodia's​ favorable​ investment​ climate​ and​ its​ strategic​ importance​ for​ international​ investors.​ At​ the​ meeting,​ H.E.​ Sun​ Chanthol​ appreciated​ National​ Bank​ of​ Canada​ and​ ABA​ Bank's​ ongoing​ investment​ in​ Cambodia.​ He​ also​ highlighted​ the​ favorable​ investment​ incentives,​ a​ supportive​ regulatory​ environment,​ and​ ongoing​ efforts​ to​ enhance​ Cambodia's​ infrastructure​ and​ business​ landscape.​ These​ factors​ continue​ to​ make​ Cambodia​ an​ attractive​ destination​ for​ investors​ across​ various​ sectors.

"We​ at​ National​ Bank​ of​ Canada​ continue​ to​ support​ ABA​ Bank's​ growth,​ underpinned​ by​ attractive​ economic​ prospects​ and​ strong​ fundamentals,"​ commented​ Laurent​ Ferreira.​ "ABA​ is​ a​ true​ success​ story​ that​ showcases​ our​ strong​ and​ long-term​ commitment​ to​ the​ country,​ and​ we​ are​ confident​ in​ its​ ability​ to​ continue​ contributing​ to​ Cambodia's​ economic​ growth​ and​ development,"​ he​ added.

Additionally,​ the​ Cambodian​ delegation​ took​ part​ in​ the​ roundtable​ jointly​ hosted​ by​ the​ Canada​ ASEAN​ Business​ Council​ (CABC)​ and​ National​ Bank​ of​ Canada.​ The​ event​ became​ a​ platform​ to​ inform​ key​ Canadian​ public​ and​ private​ sector​ representatives​ on​ the​ investment​ environment​ in​ Cambodia​ and​ offer​ potential​ collaboration​ for​ Canadian​ businesses.

ABA​ Bank​ has​ significantly​ contributed​ to​ Cambodia's​ economic​ development,​ with​ its​ operations​ leading​ to​ job​ creation​ and​ continuous​ input​ to​ the​ banking​ sector.​

The​ bank​ received​ an​ additional​ capital​ infusion​ of​ $220​ million​ from​ National​ Bank​ of​ Canada​ in​ September​ 2024.

​The​ capital​ injection​ underscores​ the​ shareholders’​ unwavering​ commitment​ to​ Cambodia’s​ economic​ development​ as​ they​ continue​ to​ reinvest​ ABA​ profits​ into​ its​ ecosystem,​ focusing​ on​ technological​ advancements​ and​ the​ continuous​ development​ of​ human​ capital.

Amongst​ its​ priorities,​ ABA​ will​ invest​ in​ cutting-edge​ technologies,​ enhancing​ its​ digital​ banking​ services​ and​ supporting​ the​ growth​ of​ SMEs.​ By​ focusing​ on​ these​ areas,​ ABA​ aims​ to​ empower​ local​ businesses​ and​ drive​ economic​ activity​ across​ multiple​ sectors.​

ABA​ Bank's​ impressive​ growth​ is​ not​ just​ a​ result​ of​ financial​ strength​ and​ technological​ innovation​ but​ also​ its​ unwavering​ commitment​ to​ developing​ human​ capital.​ Having​ created​ more​ than​ 9,300​ jobs,​ the​ Bank​ places​ great​ emphasis​ on​ nurturing​ talent​ and​ fostering​ a​ high-performance​ culture.

ABA​ is​ proud​ of​ the​ recent​ meetings​ of​ the​ Cambodian​ delegation​ with​ National​ Bank​ of​ Canada​ and​ Canadian​ investors,​ reinforcing​ its​ commitment​ to​ supporting​ Cambodia's​ economic​ development​ through​ innovative​ banking​ services​ and​ continued​ investment​ in​ the​ country's​ future.

About​ National​ Bank​ of​ Canada
National​ Bank​ of​ Canada​ is​ a​ financial​ institution​ with​ USD​ 329​ billion​ in​ assets​ as​ of​ 31​ July​ 2024,​ and​ huge​ network​ of​ correspondent​ banks​ all​ over​ the​ world.​ National​ Bank​ of​ Canada​ owns​ credit​ rating​ agencies:​ “A”​ from​ S&P,​ “A+”​ from​ Fitch,​ and​ “A1”​ from​ Moody’s.
It​ is​ headquartered​ in​ Montreal​ and​ has​ branches​ in​ almost​ every​ Canadian​ province​ serving​ 2.8​ million​ clients.​ National​ Bank​ of​ Canada​ is​ the​ sixth​ largest​ bank​ in​ Canada​ and​ the​ leading​ bank​ in​ Quebec​ where​ it​ is​ the​ partner​ of​ choice​ among​ SMEs.
The​ bank’s​ securities​ are​ listed​ on​ the​ Toronto​ Stock​ Exchange​ (TSX:​ NA).​ Clients​ in​ the​ United​ Stated,​ Europe​ and​ other​ parts​ of​ the​ world​ of​ representative​ offices,​ subsidiaries​ and​ partnerships.