Prime Minister Hun Manet welcomes ABA shareholder for high-level talks
01/Apr/2025
On 20 March 2025, the delegation of National Bank of Canada and representatives of ABA Bank paid a courtesy visit to Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia. The meeting reaffirmed both financial institutions' strong support for Cambodia's economic future.
The delegation to Peace Palace was led by Laurent Ferreira, President & CEO of National Bank of Canada. The dialogue with the Prime Minister encompassed various topics, including strengthening investment potential, promotion of sustainable economic growth, and investments in critical infrastructure and sustainability projects since National Bank of Canada is acclaimed as one of Cambodia's the largest foreign direct investors.
In his remark, Laurent Ferreira praised the Royal Government of Cambodia for the country's long-term economic development and continuous advancement. He also commended the government's focus on digital transformation and strengthened government partnerships.
"I express sincere appreciation to the Royal Government of Cambodia for its steadfast commitment to ensuring economic and social development," commented Laurent Ferreira. "Cambodia's vibrant economy and supportive business climate have created ideal conditions for ABA's expansion. National Bank of Canada appreciates and praises the opportunity to operate in Cambodia and be a good example of a successful investment in the country," he added.
As one of Canada's largest banks and a shareholder of ABA, National Bank of Canada reaffirmed its support for promoting investment and enhancing Cambodia's reputation as an attractive investment hub. Laurent Ferreira emphasized that the bank's successful investment in a Cambodian financial institution has raised Cambodia's profile in Canada as a favorable investment destination. National Bank of Canada introduces Cambodia to its clients who explore international expansion, further strengthening confidence in the Kingdom's potential.
In August 2024, National Bank of Canada facilitated high-level discussions between Cambodian government officials and Canadian investors. The Investment Roadshow, led by H.E. Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia, highlighted Cambodia's promising investment opportunities in the U.S. and Canada.
Another focus of the meeting at Peace Palace was the ongoing partnership between ABA and the Royal Government in promoting digital transformation. The Bank emphasized its dedication to working with the government to implement innovative digital solutions, improving efficiency and accessibility across various sectors.
ABA Bank: Driving Economic Development
ABA Bank has solidified its position as a key driver of Cambodia's economic development, extending $8.6 billion in loans to vital sectors such as trade, tourism, manufacturing and agriculture. Beyond traditional banking, ABA also finances infrastructure projects that enhance the country's competitiveness.
Its recent financing includes green bonds supporting a solar farm to reduce electricity costs and strengthen Cambodia's regional standing. Additionally, ABA has provided financing to Techo International Airport, a transformative initiative to enhance economic connectivity and drive growth in tourism and logistics.
The bank's collaboration with the government extends further, particularly in tax collection. As the largest tax-collecting bank, ABA facilitates 25% of all tax payments and 10% of all levies and customs duties through its nationwide branch network and digital banking platforms, reinforcing its role in strengthening the country's fiscal operations.
ABA also stands out as a significant taxpayer, having contributed approximately $500 million since 2009. Recognized for its commitment to transparency and best practices, the bank has received the GOLD Tax Compliance Certificate from the General Department of Taxation for eight consecutive years.
Supporting Cambodia's Future Vision
Cambodia's economic outlook is promising. The Royal Government of Cambodia's ambitious Pentagonal Strategy and its vision to achieve Upper-Middle-Income Country status by 2030 set a clear and inspiring roadmap. ABA stands ready to support these national objectives by promoting financial inclusion, fostering innovation, and enabling economic participation.
With the continued support of the Royal Government of Cambodia, ABA Bank looks forward to realizing the shared vision for a more prosperous, advanced, and financially inclusive country.
About ABA Bank
ABA Bank (www.ababank.com) is Cambodia's largest commercial bank by 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 4.5 million customers with the convenience of modern financial services.
ABA Bank is a subsidiary of National Bank of Canada, one of the largest banks in Canada.
About National Bank of Canada
National Bank of Canada (www.nbc.ca) is a financial institution with around USD 334 billion in assets as of 31 January 2025 and a vast network of correspondent banks worldwide. 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 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 States, Europe, and other parts of the world of representative offices, subsidiaries, and partnerships.
