Cambodia & Banking: ABA Bank reports solid growth

ABA Bank, Cambodia's largest commercial bank, has reached a significant milestone with total assets reaching $14 billion in 2024, an increase of 20.1% from the $11.5 billion recorded in 2023.

ABA Bank, Cambodia's largest commercial bank, has reached a significant milestone with total assets reaching $14 billion in 2024

This solid growth underscores ABA's dominant position in the Cambodian banking sector and its ongoing commitment to meeting the evolving needs of its customers.

The bank's expansion is supported by strong loan growth, which stood at 14% in the first half of 2024, with loans reaching $8.3 billion. This reflects sustained demand for credit from businesses and individuals across Cambodia. Equity also increased by 19% to $1.9 billion, underscoring ABA's strong capital base and its ability to support its full future growth.

Profitability continues to improve, with net profit up 21% to $166.2 million in the first half of 2024 compared to the previous year. The bank's shareholders demonstrated their confidence by reinvesting profits rather than repatriating dividends, thereby reinforcing ABA's strategic focus on long-term growth and development in Cambodia.

ABA Bank's strong financial performance and asset growth position it as a key player in Cambodia's economic landscape, supporting businesses of all sizes and contributing to the country's financial stability and development.

About

ABA Bank, officially known as Advanced Bank of Asia Limited, is Cambodia's largest commercial bank in terms of assets, deposits, loans and profitability. Founded in 1996, it has grown rapidly to become one of the country's leading private financial institutions. It offers a comprehensive range of banking services to various customer segments, including SMEs, micro-enterprises and individuals.

The bank has an extensive network of 99 branches and over 1,700 ATMs across Cambodia, as well as advanced online and mobile banking platforms.

ABA Bank is a subsidiary of National Bank of Canada, a leading North American financial institution with assets of approximately $321 billion as of April 2024.

It has received several awards, including Cambodian Bank of the Year in the ‘Technology and Domestic Operations’ category and Retail Bank of the Year by Asian Banking & Finance magazine. It also has a ‘B+’ credit rating with a stable outlook from Standard & Poor's Global Ratings.

ABA Bank offers a wide range of services, including deposits, loans, money transfers, payment cards, mobile banking, online banking for businesses, self-service banking, trade finance services and insurance products.

ABA Bank is therefore a leading, modern and technologically advanced commercial bank in Cambodia, with strong international backing and a reputation for innovation and service excellence.