Hong Kong, July 20 (FN) -- ABA Bank, member of National Bank of Canada Group, has been selected as the Best Bank in Cambodia for the fifth consecutive time by an influential financial publication Euromoney. The award was bestowed on ABA during the awards ceremony for winners across Asia at JW Marriott hotel in Hong Kong on July 18 as part of Euromoney’s annual Awards for Excellence gala dinner.
Commenting on this success, Askhat Azhikhanov, Chief Executive Officer of ABA said, “We are grateful to receive such top honor from the well-respected publication in the financial world. As this is the fifth time we were named the best bank in Cambodia, it certainly signifies that ABA is on the right track in providing modern and customer-centric products to Cambodian people and businesses as well as in improving financial inclusion in the country. I also want to extend my sincere gratitude to our staff who focus every day on delivering the best banking experience and to express great thanks to our customers for their continued support and trust in ABA.”
Euromoney’s process in selecting a country’s best bank is based on quantitative and qualitative data collected over the past 12 months. The data include information submitted by the participating banks, surveys to Euromoney’s network as well as in-depth interviews with independent analysts in the banking and financial industry of that country. Additionally, major criteria include the bank’s strategy in improving risk management and cybersecurity, its advancement of digital banking product and strategy, expansion of geographic reach, its position and strength in the market as well as its year-on-year financial performance.
“ABA continues to be the leader in Cambodian banking and was rewarded with a 59% year-on-year increase in profit in 2017 to $46.19 million. Total assets grew 49% to $1.64 billion and return on equity stands at 28.1%,” said Clive Horwood, Editor of Euromoney magazine. “Backing from the major shareholder National Bank of Canada continues to bear fruit in guiding best practice. ABA pushes digitization as far as practical in Cambodia, launching its PayWay online payment gateway during our review period. The bank issued almost 100,000 new Visa, Mastercard and UPI cards in 2017 and has signed a 15-year partnership agreement with Manulife for life insurance,” he added.
Over the years, ABA Bank has received top honors from several prestigious international financial publications. In particular, The Banker magazine named ABA the “Bank of the Year” in Cambodia in 2014 and 2016, while Global Finance has recognized ABA as the “Best Bank in Cambodia” for four consecutive years in 2015, 2016, 2017, and 2018. The “Best Bank in Cambodia 2018” award from Euromoney is the fifth trophy from the magazine adding to its growing list from 2014, 2015, 2016, and 2017.
=FRESH NEWS
