If any bank could claim to have played a role as a shock-absorber in Cambodia over the last year, it is ABA Bank.
Between a surging US dollar, skyrocketing bond yields and geopolitical upheaval, Cambodia’s economy took hits from all sides. Throughout it all, the nation’s largest commercial bank – and Cambodia’s number-one taxpayer – increased loans to local businesses. In doing so, ABA played an important role in supporting access to capital and economic growth more broadly.
In 2022, the team, led by chief executive Askhat Azhikhanov, distributed a net 45,022 additional loans worth $1.96 billion. That increased ABA’s gross loan portfolio by 22% to $6.5 billion.
The bank also restructured the loans of borrowers affected by Covid-19. By the end of the year, ABA had recalibrated 11,107 such loans, some $539 million outstanding. As an uncertain second half of 2023 unfolds, Azhikhanov’s team has committed to help borrowers through another chaotic period.
In 2022, ABA also excelled by virtually every metric. Total assets grew 15% year on year, to $9 billion in calendar 2022. ABA’s deposits portfolio jumped 17% to $7.3 billion, while gross loans increased 22% to $6.5 billion. Its net profit of $262.3