Canadia Bank, a cornerstone of Cambodia’s banking sector, has yet again been recognized for its exceptional service and innovation in retail banking. For the fourth time, The Asian Banker (TAB) has awarded Canadia Bank the honor of Best Retail Bank in Cambodia in the latest Global Excellence in Retail Finance Awards of 2024. This recognition comes as a reflection of Canadia Bank’s unwavering dedication to offering outstanding products, services, and digital banking solutions to its clientele.
The TAB’s Global Excellence in Retail Financial Services Award is a well-respected accolade that celebrates the achievements of top-performing institutions in consumer and retail banking worldwide. Canadia Bank has not only clinched the Best Retail Bank title in 2020, 2021, 2023, and now 2024 but has also been recognized as The Strongest Bank by Balance Sheet in 2019 and the Best Managed Bank in 2022 by TAB.
The award affirms Canadia Bank’s commitment to enhancing the banking experience for its customers through service excellence, innovative products, and the adoption of advanced technology. The bank’s strategic efforts have been focused on improving service delivery, refining product offerings, and leveraging technology to benefit customers.
In 2023, Canadia Bank launched several initiatives aimed at strengthening the payment ecosystem and encouraging online transaction engagement through various digital platforms such as the Canadia Bank App and Smart Branches. This includes deploying mobile tablets for frontline sales staff, facilitating customer onboarding outside traditional bank settings, and streamlining loan processes. Moreover, the bank expanded its payment solutions and integrated with more digital platforms to facilitate convenient transactions for its customers.
Furthermore, Canadia Bank has enhanced its partnership with the Royal Government of Cambodia, enabling easy access to digital payment services for bills, taxes, and public service fees. This collaboration has significantly contributed to the impressive growth of the bank’s retail business in 2023 across various metrics such as account numbers, mobile application usage, card expenditure, loan portfolio, and merchant transactions.
At the Finance Vietnam 2024 conference in Hanoi, Mr. Raymond Sia, CEO of Canadia Bank, expressed his gratitude for the international recognition and emphasized the bank’s customer-centric approach, which has played a pivotal role in securing this achievement. He highlighted the innovative financial solutions tailored for individuals, merchants, and government institutions. He also applauded the bank’s workforce for their dedication and hard work that has led to this success.
In line with its commitment to innovation and service excellence, Canadia Bank has showcased robust financial health. The bank reported a net profit of $102 million in 2023, maintaining a strong loan-to-deposit ratio. Dr. Pung Kheav Se, Chairman of Canadia Bank, in the bank’s 2023 Annual Report, reiterated their commitment to excellence in banking services, innovation, and maintaining quality standards.
Canadia Bank’s accolades from The Asian Banker solidify its position as a leader in the retail banking sector within Cambodia. The bank’s continued success and recognition underscore its long-term commitment to serving its customers with the best banking products and services, aimed at elevating the overall customer banking experience.
Source: Fresh News
