Cambodia Investment Review
ABA Bank, a member of the National Bank of Canada Group, has reported another year of strong financial performance in 2024, underscored by a substantial capital injection, steady liability management, and growing customer trust reflected in higher deposits. The results reaffirm the bank’s long-term commitment to Cambodia’s financial sector, underlining its position as the Kingdom’s largest commercial bank by customer deposits, loans, and total assets.
The audited financial statements for the year ended 31 December 2024 show total assets of $13.76 billion, a 20% increase from $11.48 billion in 2023. ABA’s asset growth reflects consistent performance across its core banking operations, especially in loan issuance and modern digital banking services.
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ABA Bank increased its registered share capital to $1.32 billion following a capital injection of $220 million approved by the National Bank of Cambodia in September. This strategic move further strengthens the bank’s balance sheet and reinforces its capacity to serve a growing client base across the Kingdom. The total shareholders’ equity, including regulatory reserves and retained earnings, reached $2.30 billion.
The increase in capital is part of the bank’s broader plan to support lending expansion, technological upgrades, and service innovations, as well as to ensure full compliance with evolving regulatory requirements. With this injection, ABA remains one of the best-capitalized financial institutions in Cambodia.
ABA Bank Recorded Significant Growth in Deposits
In terms of customer engagement, ABA Bank recorded significant growth in deposits, which rose to $10.8 billion by year-end,up from $9.0 billion in 2023. This 20% year-on-year increase reflects not only strong client confidence in the bank’s mobile-first approach and expanding nationwide service network, but also a continued focus on enhancing both retail and corporate banking solutions.
Balances with the National Bank of Cambodia and other financial institutions also rose substantially, contributing to a more diversified and stable asset base.
Total liabilities reached $11.46 billion, up from $9.70 billion the previous year. This growth is primarily attributed to the rise in customer deposits, reflecting the bank’s efficient funding structure and disciplined approach to managing borrowing costs.
Notably, ABA fully repaid its $96 million in subordinated debt in 2024, demonstrating prudent financial management and further simplifying its capital structure.
Leading Corporate Taxpayer and Profitable Market Leader
In line with its expanding operations, ABA Bank made significant contributions to the national budget through tax payments. In 2024, the bank paid over $84 million in income tax—up from $70 million in 2023—representing a 20% increase year-on-year. This makes ABA one of the largest corporate taxpayers in Cambodia’s financial sector.
The bank’s profit before tax rose to $383.8 million, with net profit reaching $299.6 million, reinforcing its position as the country’s most profitable financial institution. Net interest income increased to $620.1 million, supported by growing interest income from loans and investments.
The results highlight the effectiveness of ABA’s digital-first strategy, its focus on scalable and efficient operations, and its strong credit risk management practices, which helped contain impairment losses despite market challenges.
Market Leadership Through Innovation and Strong Governance
ABA Bank continues to maintain its market leadership through prudent governance, technological innovation, and ongoing investments in human capital. With a workforce of over 9,000 staff, the bank has prioritized training, leadership development, and career advancement opportunities to support its rapid expansion.
The bank’s flagship mobile banking application remains a cornerstone of its customer engagement strategy, processing more than 100 million transactions each month and driving broader financial inclusion across urban and rural communities.
As Cambodia’s economy continues to grow, ABA Bank is well-positioned to support businesses, entrepreneurs, and individuals with high-quality financial solutions tailored to their evolving needs, while maintaining its leadership in transparency, efficiency, and sustainable banking
