Phnom Penh (FN), Oct. 18- Celebrating over three decades as a trusted leader in Cambodia’s financial market, Canadia Bank continues to solidify its reputation with two notable wins at the International Finance Awards (IFA) 2024. The Bank humbly received the Best Commercial Bank in Cambodia for the sixth consecutive year and for the first time, it was also recognized as the Best Trade Finance Bank. These recognitions reinforce Canadia Bank’s exceptional market leadership, commitment to innovation, and its unwavering dedication to delivering exceptional value to its customers.
The International Finance Awards (IFA), organized by the UK-based International Finance Magazine (IFM), honors financial institutions and leaders worldwide who set benchmarks in excellence, innovation, and customer-centricity. Canadia Bank’s continued success in these categories speaks to its strategic vision, excellent banking solutions, and dedication to driving sustainable growth in Cambodia’s dynamic financial landscape.
Winning the Best Commercial Bank in Cambodia for six consecutive years underscores Canadia Bank’s strength and dedication in serving a diverse range of clients, from individuals to SMEs to large corporations. Through continuous innovation and a customer-centric approach, the Bank achieved a net profit of $102 million in 2023, showcasing its resilience amid global economic challenges. Among its latest pioneering solutions is Premier Services, meticulously designed to cater to the distinct needs and preferences of its customers. This service provides tailored banking experiences, offering exclusive benefits and privileges that elevate premium banking standards.
Canadia Bank’s recognition as the Best Trade Finance Bank for the first time underscores its position as a leader in providing seamless trade finance solutions for both local and cross-border transactions. The Bank offers innovative services to help local businesses and multinational corporations navigate complex supply chains and Government projects with ease and efficiency. One of its key offerings is the bespoke Supply Chain Package (SCP), designed to support the entire ecosystem of clients, partners, dealers, and distributors, providing comprehensive banking services with special terms and rates. Additionally, the Rice Export Guarantee Scheme (REGS), developed in collaboration with the Cambodia Rice Federation and Credit Guarantee Corporation of Cambodia (CGCC), offers financing support on favorable terms, enabling rice millers and exporters to expand their businesses.
Clients also benefit from the Bank’s strong local and global partnerships. As a trusted Government partner, its widely accepted Bank Guarantees are recognized both locally and internationally. It has a solid global network of counterparties and correspondent banks that allows customers to conduct cross-border transactions with ease and efficiency.Furthermore, supporting clients extends to providing one-stop comprehensive solutions for business operations that include bundled transactional banking services with competitive terms, dedicated, knowledgeable experts who are always ready to offer advice and support, and a revamped internet banking platform that allows convenient service access online.
Mr. Raymond Sia, CEO and Executive Board Director of Canadia Bank, expressed his gratitude to International Finance Magazine (IFM): "We are truly honored to be recognized once again as the Best Domestic Bank and for the first time, as the Best Trade Finance Bank. These recognitions reflect the dedication, resilience, and innovation of our entire team, who continuously strive to deliver excellence for our customers and communities. At the heart of our success is a simple yet powerful belief: Banking goes beyond transactions – it’s about fostering trusted relationships and partnerships. These awardsmotivate us to keep enhancing financial accessibility, expandour digital services, an invest more in our people to raise the bar of service quality."
Ms. Pakaravee Anantathananid, EVP and Chief Business Officer of Canadia Bank, has shared the same sentiment: "This achievement underscores our commitment to providing robust and flexible financing products with competitive pricing, along with our strong global networks, to support local and cross-border transactions of our customerseffectively. Looking ahead, we remain dedicated to continuously providing innovative financing schemes, customized transactional banking services, and expand our digital banking solutions to facilitate smoother tradetransactions and further strengthen the business ecosystem of our customers.”
About Canadia Bank
Canadia Bank is a leading local and full-service commercial bank in Cambodia since 1991 and holds commanding market shares in loans and deposits. In 2024, on top of the recent recognition as the “Cambodia Technology Excellence Award in Digital Banking” from The Asian Business Review, Canadia Bank was awarded for the 4th time as “Best Retail Bank” by The Asian Banker and twice recognized as Best Bank for Corporates in Cambodia by Euromoney and “The Best SME Bank” by the Digital Banker.
Currently, Canadia Bank has 68 branches and about 450 self-service digital devices across Cambodia, such as ATMs, Cash Recycling Machines, Virtual Teller Machines, and Smart Card-Issuing Machines.
