Canadia Bank awarded Best Retail Bank in Cambodia at The International Excellence in Retail Financial Services Awards 2020
- Canadia Bank anchored its growth on a strong financial foundation and a healthy balance sheet
- The bank is making sound digital investments to deliver enhanced customer experience and achieve business results
- The bank is working with the National Bank of Cambodia in providing financial relief to its customers during the COVID-19 crisis
Singapore, 5 June 2020 — Canadia Bank received Best Retail Bank in Cambodia at The Asian Banker International Excellence in Retail Financial Awards 2020.
Canadia Bank anchored its growth on a strong financial foundation and a healthy balance sheet
In 2019, the bank grew its gross retail revenue by a high-teen rate, placing it in a solid financial position. It demonstrated impressive profitability through a significant increase in its return on equity and relatively low cost-to income ratio. Its sustainability is also underpinned by its prudent risk management as reflected in its NPL ratio of less than 1%. The bank’s retail deposit base has seen a compounded annual growth rate of 13% over the past 3 years, taking the leading market share in the country.
The bank is making sound digital investments to deliver enhanced customer experience and achieve business results
Canadia Bank is proactively encouraging customers to utilise its alternative platforms in line with its digital journey. The bank automatically enrols clients to its mobile and online banking during account opening instead of just making it optional. It is also at the pilot stage of offering personal loans online. In addition, the bank automated and streamlined processes for its retail products and transactions to increase efficiency and productivity. In its branches, staff have been restructured to accelerate turnaround time for account opening and reduce waiting time by 50%.
The bank is working with the National Bank of Cambodia in providing financial relief to its customers during the COVID-19 crisis
Canadia Bank has taken actions in combating the adverse impact of the COVID-19 pandemic in line with guidelines set by the National Bank of Cambodia. The bank is taking a consultative and accommodative approach in addressing the needs of its customers, and have mobilised its credit committee
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi