ABA becomes “Domestic Retail Bank 2022 in Cambodia” by Asian Banking and Finance

ABA Bank, the top commercial bank in Cambodia in terms of total assets, gross loans, customer deposits and profitability based on the National Bank of Cambodia’s 2021 Annual Supervision Report, won another title of ” National Retail Bank of the Year” in Asia Banking and Finance magazine’s 2022 Retail Banking Awards.

This distinction recognizes the remarkable achievements of ABA Bank during the year and the development of its platform and its digital banking services to bring practical and innovative banking solutions to its customers.

The jury’s decision is underpinned by ABA’s recent significant enhancements and enhancements to its flagship ABA Mobile app, such as:

Introduction of instant account opening functionality, where new ABA customers have the option to open their first account with their smartphone and a valid ID card (through the secure eKYC process);

Development of the ABA QR functionality with the support of the KHQR national standard, which allows customers to collect payments or receive transfers from all users of the ABA Mobile application and customers of other banks supporting the standard KHQR introduced by the National Bank of Cambodia;

Launched instant card-to-card transfers with Mastercard and UnionPay, where cardholders can transfer up to $20,000 per month from their bank accounts via ABA Mobile.

Another significant advancement of the ABA is the start of accepting tax payments on behalf of the General Department of Taxation (GDT). ABA customers can pay their taxes for free from ABA Mobile, on the GDT website and app and through bank branches.

In December, rating agency S&P Global Ratings reaffirmed ABA’s credit rating at “B+” with a stable outlook. It reflects S&P’s view that the Bank can sustainably manage rapid loan and deposit growth as the country emerges from the Covid-19 pandemic. S&P experts also noted that ABA’s digital platforms are a competitive advantage that supports the expansion of loans and deposits.

The steady expansion of the ABA self-banking network also impressed the judges, with 11 new ABA 24/7 outlets recently opened in major cities. The spots are equipped with cash deposit/withdrawal machines, check deposit machines and card issuing machines.

The Bank has also added two large-scale branches in Mondulkiri and Pailin provinces to its physical network.

Askhat Azhikhanov, CEO of ABA Bank, said on the occasion: “This is the second consecutive high-level award presented by Asian Banking and Finance to ABA, which reflects our commitment to providing modern and convenient financial solutions to our valued customers. As always, we dedicate this award to all of our customers and thank them for using our services.

Asian Banking and Finance Editor Tim Charlton said, “ABA Bank has once again proven that it is at the top of its game by leveraging technology to improve internal operations and provide customers with extensive list of services to facilitate money transfers, payments and withdrawals. , and other services through the ABA Mobile application. These have helped ABA increase the number of active users of its apps by 78% and remain the most profitable bank in the country. »

“We are certainly proud to have awarded ABA Bank the National Retail Bank of the Year – Cambodia at the Asian Banking & Finance Awards 2022, as their initiatives have made them stronger and cemented their position as the largest Cambodian bank” , he added.