On 26-27 September 2024, National Bank of Canada, the sixth-largest bank in Canada and shareholder of ABA Bank, participated in high-level meetings between Cambodian government officials and private sector representatives and Canadian investors.
H.E. Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia led the Cambodian delegation at the Investment Roadshow in the US and Canada to showcase the country's investment potential.
As a leading financial institution with a significant presence in Cambodia, National Bank of Canada took the leading role in facilitating the meeting platforms. The representatives of ABA also participated in the events.
During the visit, H.E. Sun Chanthol met Laurent Ferreira, the President and CEO of National Bank of Canada, at National Bank Place, the bank's new headquarters in Montreal.
The discussion underscored Cambodia's favorable investment climate and its strategic importance for international investors. At the meeting, H.E. Sun Chanthol appreciated National Bank of Canada and ABA Bank's ongoing investment in Cambodia.
He also highlighted the favorable investment incentives, a supportive regulatory environment, and ongoing efforts to enhance Cambodia's infrastructure and business landscape. These factors continue to make Cambodia an attractive destination for investors across various sectors.
"We at National Bank of Canada continue to support ABA Bank's growth, underpinned by attractive economic prospects and strong fundamentals," commented Laurent Ferreira. "ABA is a true success story that showcases our strong and long-term commitment to the country, and we are confident in its ability to continue contributing to Cambodia's economic growth and development," he added.
Additionally, the Cambodian delegation took part in the roundtable jointly hosted by the Canada ASEAN Business Council (CABC) and National Bank of Canada. The event became a platform to inform key Canadian public and private sector representatives on the investment environment in Cambodia and offer potential collaboration for Canadian businesses.
ABA Bank has significantly contributed to Cambodia's economic development, with its operations leading to job creation and continuous input to the banking sector.
The bank received an additional capital infusion of $220 million from National Bank of Canada in September 2024.
The capital injection underscores the shareholders’ unwavering commitment to Cambodia’s economic development as they continue to reinvest ABA profits into its ecosystem, focusing on technological advancements and the continuous development of human capital.
Amongst its priorities, ABA will invest 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.
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 is proud of the recent meetings of the Cambodian delegation with National Bank of Canada and Canadian investors, reinforcing its commitment to supporting Cambodia's economic development through innovative banking services and continued investment in the country's future.
About National Bank of Canada
National Bank of Canada is a financial institution with USD 329 billion in assets as of 31 July 2024, and huge network of correspondent banks all over the world. National Bank of Canada owns credit rating agencies: “A” from S&P, “A+” from Fitch, and “A1” from Moody’s.
It is headquartered in Montreal and has branches in almost every Canadian province serving 2.8 million clients. National Bank of Canada is the sixth largest bank in Canada and the leading bank in Quebec where it is the partner of choice among SMEs.
The bank’s securities are listed on the Toronto Stock Exchange (TSX: NA). Clients in the United Stated, Europe and other parts of the world of representative offices, subsidiaries and partnerships.
