ABA​ Bank wins Euromoney’s ‘Best​ Bank​ in​ Cambodia​ 2020’ award

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ABA Bank,​ which is a​ subsidiary​ of​ National​ Bank​ of​ Canada,​ received​ the​ ‘Best​ Bank​ in​ Cambodia​ 2020’ award from Euromoney, regarded as a prominent​ global financial​ magazine.

ABA Cambodia

In a statement released on ABA’s website, it said: “Euromoney​ experts​ particularly​ highlighted​ enhancements​ of​ ABA​ Bank​ in​ digital​ business​ transformation,​ modernization​ of​ its​ ABA​ Mobile​ app,​ as​ well​ as​ the expansion​ of​ the​ physical​ footprint​ and​ other​ major​ achievements​ over​ the​ past​ 12​ months.”

Euromoney​ ​judging​ panel​ includes​ a​ team​ of​ senior​ journalists,​ chaired​ by​ the​ Euromoney’s​ editor,​ in​ conjunction​ with​ the​ editorial​ committee’s​ research​ into​ the​ banking​ and​ capital​ markets.​

On winning the award, Askhat​ Azhikhanov,​ Chief​ Executive​ Officer​ of​ ABA ​(Advanced Bank of Asia) said: “Receiving​ the​ seventh​ consecutive​ ‘Best​ Bank​ in​ Cambodia’​ title​ from​ Euromoney​ is​ a​ considerable​ achievement​ for​ ABA​ Bank.​ Euromoney​ magazine​ lauded​ our​ attainments​ in​ digitalization​ of​ the​ local​ market,​ especially​ the​ efforts​ we​ put​ in​ our​ core​ product,​ the​ ABA​ Mobile​ app,​ whose​ customer​ base​ more​ than​ doubled​ over​ the​ last​ year.”

Euromoney’s​ editor​ Clive​ Horwood​ said of ABA: “In​ a​ country​ saturated​ with​ lenders,​ ABA​ stands​ strong​ above​ the​ crowd.​ Compared​ with​ its​ domestic​ peers,​ ABA​ Bank​ caught​ the​ digital​ bug​ relatively​ early.​

The​ bank​ continues​ to​ invest​ in​ its digital​ footprint.​ In​ 2019,​ it​ enhanced​ QR-code​ cashless​ payment​ service,​ ABA​ PAY,​ launched​ mobile​ savings​ and​ mobile​ fixed​ accounts,​ and​ rolled​ out​ international​ SWIFT​ money​ transfers​ in​ its​ ABA​ Mobile​ app.”

You can see the full list of award winners from Asia here.

Banking in Cambodia

In Cambodia, there were more than 40 commercial banks, 14 specialised banks, 7 MDIs, 73 MFIs and 273 rural credit institutions at the end of 2019.

By late 2019, the total number of banking and microfinance headquarters and branches have increased up to 2,367 locations with 2,228 ATMs across Cambodia.

In 2020, a new Cambodian Investment Law and Money Laundering Laws were introduced by the Royal Cambodian Government.

You can read more in our Banking & Finance in Cambodia guide.

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