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Estatedia | Economy & Real Estate Media in Cambodia

ABA​ Bank​ secures​ $220​ million​ in​ capital​ injection,​ commits​ to​ country’s​ economy

ABA​ Bank,​ Cambodia’s​ largest​ commercial​ bank,​ has​ received​ regulatory​ approval​ for​ an​ additional​ capital​ injection​ of​ US$​ 220​ million​ from​ its​ shareholder,​ National​ Bank​ of​ Canada.​

This​ new​ infusion​ brings​ the​ Bank’s​ total​ shareholder’s​ equity​ to​ US$2.2​ billion,​ solidifying​ its​ position​ as​ the​ leading​ player​ in​ the​ Cambodia’s​ dynamic​ banking​ sector.

The​ shareholders’​ decision​ to​ inject​ this​ capital​ is​ a​ powerful​ endorsement​ to​ ABA​ Bank’s​ growth​ trajectory​ and​ unwavering​ commitment​ to​ Cambodia’s​ economic​ development.​

Notably,​ the​ shareholders​ have​ never​ repatriated​ any​ profit​ generated​ by​ ABA.​ Instead,​ they​ have​ continuously​ invested​ it​ back​ to​ the​ ABA​ ecosystem,​ focusing​ on​ technological​ advancements​ and​ continuous​ development​ of​ human​ capital.

Boost​ to​ Financial​ Stability​ and​ Technology

This​ latest​ capital​ injection​ not​ only​ enhances​ ABA​ Bank’s​ financial​ stability​ but​ also​ supports​ its​ vision​ for​ sustained​ growth​ and​ innovation.​ With​ the​ increased​ capital​ base,​ the​ Bank​ is​ better​ positioned​ to​ navigate​ economic​ uncertainties,​ ensuring​ greater​ stability​ and​ resilience​ in​ Cambodia’s​ financial​ landscape.

The​ new​ funding​ will​ accelerate​ ABA’s​ investments​ in​ cutting-edge​ technologies,​ enhancing​ its​ digital​ banking​ services​ and​ supporting​ the​ growth​ of​ SMEs.​ By​ focusing​ on​ these​ areas,​ ABA​ aims​ to​ empower​ local​ businesses​ and​ drive​ economic​ activity​ across​ multiple​ sectors,​ all​ while​ providing​ customers​ with​ more​ accessible,​ efficient,​ and​ secure​ banking​ solutions.​

Askhat​ Azhikhanov,​ CEO​ of​ ABA​ Bank,​ remarked,​ “This​ capital​ infusion​ is​ a​ clear​ example​ of​ the​ foreign​ direct​ investment​ in​ the​ economy​ thanks​ to​ continuous​ trust​ of​ our​ shareholders​ in​ Cambodia​ and​ in​ ABA.​ The​ additional​ capital​ enables​ us​ to​ continue​ providing​ loans​ to​ SMEs,​ keep​ investing​ in​ cutting-edge​ technologies,​ and​ deliver​ exceptional​ financial​ services​ while​ contributing​ to​ Cambodia’s​ economic​ progress.”

Continuous​ Contribution​ to​ National​ Economy

ABA​ Bank​ has​ also​ distinguished​ itself​ as​ a​ model​ corporate​ citizen​ in​ Cambodia,​ receiving​ the​ prestigious​ “GOLD”​ Certificate​ of​ Tax​ Compliance​ from​ the​ General​ Department​ of​ Taxation​ (GDT)​ for​ six​ consecutive​ years​ since​ 2019.​

This​ recognition​ underscores​ ABA’s​ consistent​ commitment​ to​ transparency​ and​ good​ corporate​ tax​ governance.​ The​ Bank​ has​ fully​ complied​ with​ Cambodia’s​ tax​ regulations,​ paying​ taxes​ in​ full​ and​ with​ 100%​ transparency.​ In​ recognition​ of​ these​ efforts,​ the​ bank​ was​ also​ honored​ with​ a​ Letter​ of​ Appreciation​ from​ the-then​ Prime​ Minister​ Hun​ Sen​ in​ May​ 2022.​

In​ 2023​ alone,​ ABA​ Bank’s​ income​ tax​ and​ other​ tax​ expenses​ amounted​ to​ $85​ million.​ In​ the​ first​ 8​ months​ of​ 2024,​ tax​ contributions​ already​ reached​ $80​ million.​

Cumulatively​ from​ 2009​ to​ 2024,​ ABA​ has​ contributed​ approximately​ $446​ million​ in​ taxes​ to​ the​ state​ budget,​ significantly​ supporting​ government​ initiatives​ in​ building​ infrastructure​ for​ the​ benefit​ of​ the​ people.

Investment​ in​ Human​ Capital

ABA​ Bank’s​ impressive​ growth​ is​ not​ just​ a​ result​ of​ financial​ strength​ and​ technological​ innovation,​ but​ also​ its​ unwavering​ commitment​ to​ developing​ human​ capital.​ Having​ created​ more​ than​ 9,300​ jobs,​ the​ Bank​ places​ great​ emphasis​ on​ nurturing​ talent​ and​ fostering​ a​ high-performance​ culture.​

ABA’s​ continuous​ investment​ in​ training​ and​ professional​ development​ ensures​ that​ its​ staff​ are​ well-equipped​ to​ meet​ the​ evolving​ needs​ of​ customers​ and​ the​ challenges​ of​ a​ fast-changing​ financial​ landscape.

Through​ leadership​ programs,​ skill-enhancement​ workshops,​ and​ career​ progression​ opportunities,​ the​ Bank​ supports​ the​ personal​ and​ professional​ growth​ of​ its​ employees,​ empowering​ them​ to​ drive​ innovation​ and​ deliver​ top-tier​ service.

The​ strong​ workforce,​ combined​ with​ advanced​ technologies,​ allows​ ABA​ to​ maintain​ its​ market​ leadership​ and​ continue​ setting​ new​ benchmarks​ in​ Cambodia’s​ banking​ industry.

Appreciation​ for​ Customer​ Trust

The​ Bank’s​ remarkable​ growth​ in​ its​ customer​ base​ reflects​ its​ commitment​ to​ excellence.​ Today,​ ABA​ Bank​ serves​ over​ 4​ million​ customers,​ 3.8​ million​ of​ whom​ are​ the​ ABA​ Mobile​ app​ users.​

This​ rapid​ expansion​ underscores​ the​ trust​ and​ confidence​ that​ Cambodian​ customers​ place​ in​ the​ bank.​ ABA​ extends​ its​ deepest​ appreciation​ to​ its​ customers​ for​ their​ loyalty​ and​ commitment,​ which​ has​ been​ pivotal​ in​ cementing​ its​ position​ as​ the​ leading​ digital​ bank​ in​ the​ country.

Expanding​ Market​ Footprint

With​ the​ additional​ capital,​ ABA​ Bank​ is​ ready​ to​ further​ consolidate​ its​ leadership​ in​ Cambodia’s​ competitive​ banking​ sector.​ The​ Bank​ continues​ to​ differentiate​ itself​ with​ competitive​ innovative​ financial​ products​ and​ a​ deep​ commitment​ to​ digital​ innovation.​

As​ ABA​ Bank​ continues​ to​ expand​ its​ footprint​ and​ capabilities,​ it​ remains​ dedicated​ to​ its​ mission​ of​ enhancing​ the​ financial​ well-being​ of​ its​ customers​ and​ contributing​ to​ the​ nation’s​ overall​ prosperity.

ABA​ Bank’s​ growth​ aligns​ with​ the​ Cambodian​ Government’s​ Pentagonal​ Strategy,​ supporting​ the​ country’s​ aspirations​ for​ sustainable​ and​ inclusive​ development.​ The​ Bank​ looks​ forward​ to​ serving​ even​ more​ Cambodians,​ reinforcing​ its​ role​ as​ the​ most​ trusted​ and​ secure​ banking​ institution​ in​ the​ Kingdom.

All​ in​ all,​ as​ ABA​ Bank​ continues​ to​ innovate​ and​ grow,​ it​ remains​ dedicated​ to​ supporting​ Cambodia’s​ economic​ development,​ ensuring​ that​ it​ remains​ at​ the​ forefront​ of​ the​ country’s​ financial​ services​ sector,​ delivering​ value​ to​ its​ shareholders,​ customers,​ and​ the​ community.

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