Public announcement on Flexi Deposits opened with promotional interest rate

01/09/2018

Public announcement on Flexi Deposits opened with promotional interest rate

Dear​ valued​ customers,
We​ would​ like​ to​ inform​ you​ that​ effective​ from​ 1​ October​ 2018,​ ABA​ Bank​ reduces​ the​ interest​ rate​ of​ Flexi​ Deposits​ opened​ with​ promotional​ interest​ rates​ (in​ total,​ it​ will​ affect​ around​ 11,300​ customers).

The​ reduction​ of​ the​ interest​ rate​ will​ follow​ the​ below​ conditions:​

Existing Interest Rate (p.a.) New Effective Interest Rate (p.a.)
2.50% 2.25%
2.75% 2.50%
3.00% 2.75%
3.15% 2.90%
3.25% 3.00%
3.40% 3.15%

The​ reduction​ of​ the​ interest​ rate​ is​ made​ considering​ the​ following​ factors:

  • Due​ to​ excess​ of​ liquidity​ in​ domestic​ banking​ market​ resulted​ from​ steady​ economic​ growth​ and​ investments​ in​ the​ Kingdom,​ many​ banks​ have​ been​ reducing​ their​ savings​ and​ fixed​ deposits​ interest​ rates.​
  • ABA​ Bank​ has​ found​ itself​ in​ the​ over​ liquidity​ position​ as​ well.​ This​ is​ due​ to​ not​ only​ overall​ growth​ of​ Cambodian​ economy,​ but​ also​ ABA​ shareholders’​ capital​ investments,​ credit​ lines​ from​ international​ capital​ markets,​ increasing​ credibility​ of​ ABA​ having​ the​ highest​ in​ Cambodia​ credit​ rating,​ continuous​ branch​ network​ and​ business​ expansion.​
  • Despite​ the​ revision​ of​ the​ interest​ rate,​ ABA​ still​ offers​ the​ most​ competitive​ and​ highest​ saving​ interest​ rate​ in​ the​ Cambodian​ market.​ The​ Bank’s​ value​ proposition​ to​ our​ valuable​ customers​ also​ includes​ cutting-edge​ digital​ banking​ solutions​ such​ as​ ABA​ Mobile​ banking​ app,​ iBanking​ service,​ Virtual​ Cards,​ ATMs​ and​ Cash-in​ Kiosks​ that​ provide​ you​ with​ access​ to​ your​ funds​ 24/7,​ as​ well​ as​ a​ wide​ branch​ network​ across​ the​ country​ with​ some​ of​ the​ branches​ working​ 12/7. Alternatively,​ in​ order​ to​ maximize​ your​ return​ on​ investment​ with​ ABA,​ we​ recommend​ you​ to​ use​ our​ Fixed​ Deposit​ with​ variety​ of​ tenors​ depending​ on​ your​ financial​ needs.

For​ any​ questions​ related​ to​ these​ changes,​ please​ reach​ your​ Relationship​ Manager,​ email​ us​ at​ info(at)ababank.com ​or​ call​ our​ Contact​ Centre​ available​ 24/7​ for​ you​ at​ 023​ 225​ 333.

Thank​ you​ for​ banking​ with​ us!​