ABA clinches Domestic Retail Bank of the Year title at Asian Banking and Finance Awards 2024

ABA Bank has secured another Domestic Retail Bank of the Year – Cambodia title by the Asian Banking and Finance magazine. This recognition highlights the Bank's commitment to excellence and remarkable achievements in a year characterized by substantial growth and innovative digital strides.

The Bank's dedication to introducing advanced financial products and services for customers' efficiency has garnered recognition from the judging panel at the Asian Banking and Finance.

Over the year, ABA Mobile received significant enhancements and user-focused innovations. Key features introduced include a revamped interface in version 5.0, promoting a customizable and intuitive user experience, enhanced security features, and accessibility adjustments such as font size customization and theme changes. Noteworthy is the data-free access initiative, which allows users of certain mobile networks to access essential banking services without data charges, thus promoting financial inclusion.

In 2023, the Bank introduced cross-border QR payments to its ecosystem, enabling ABA customers to transact seamlessly across Thailand by scanning ThaiQR codes. ABA also significantly expanded its QR payment merchant network by 43%. This expansion solidifies ABA's position as a digital payments leader and enhances convenience for its customers.

In addition, the ABA Merchant app witnessed a remarkable 136% increase in active users. The app's new analytics feature allows merchants to easily access and analyze transaction data, optimizing operational efficiency and customer engagement. Furthermore, receiving tips through digital payments and offering instant cashback promotions has enriched the customer and merchant experience.

"We are proud to have secured the Domestic Retail Bank of the Year - Cambodia title for the fourth year running. At ABA, we remain focused on leveraging technology to offer accessible and user-friendly financial solutions, as demonstrated by the success of our ABA Mobile app and the expansion of digital payment options," commented Askhat Azhikhanov, CEO of ABA Bank. "This recognition is a testament to our team's dedication to innovation and providing exceptional customer experiences," he added.

ABA achieved impressive financial metrics underlining its dominant position in Cambodia's banking sector. The Bank saw a 27% increase in total assets, reaching $11.5 billion by the 2023 year-end. Customer deposits grew by 26% to $9.2 billion, while gross loans escalated to $7.9 billion, marking a 21% increase since the previous year-end.

"ABA's unwavering commitment to excellence and innovation in serving its clients and enhancing its position as a leader in the Cambodian banking community. This comprehensive performance and strategic focus on innovation, customer-centricity, and sustainable growth have earned ABA Bank the prestigious Domestic Retail Bank of the Year title at the ABF Retail Banking Awards 2024," the magazine commented in its write-up about ABA Bank's Award 2024.

With astounding achievements and impressive innovations, ABA continues to steadfastly commit to and focus on customer-centric solutions, making it a frontrunner in Cambodia's banking landscape.