Cambodia's best domestic bank 2020: ABA Bank
Cambodia’s banking sector has become increasingly competitive over the last few years, but ABA Bank has once again managed to stand out from the crowd. The bank’s strong balance sheet, its stable funding positions and its relentless effort to innovate all impressed Asiamoney.
ABA Bank is the strongest of Cambodia’s commercial banks with a 31.3% return on equity (ROE) in 2019, up from 28.3% in 2018. By the end of the third quarter, the bank had $5.65 billion in assets and $4.49 billion in deposits, up 28.7% and 32.1% respectively from the end of 2019.
ABA Bank boasts Cambodia’s most-used mobile app. ABA Mobile’s user base jumped more than 55% in the first nine months of 2020. The bank also managed to more than double the number of mobile banking transactions from 55 million to 130.7 million in the same period.
ABA Bank, the second-biggest bank by assets in the country, is still expanding. In 2019, it added 11 new branches and 2,197 more employees, according to the bank’s annual report.