FTB Is the Winner of Two Distinguished International Banker Awards: Commercial Bank of the Year Cambodia 2015 and Best Innovation in Retail Banking Cambodia 2015
London, UK -- (SBWIRE) -- 09/10/2015 -- International Banker held its annual Banking Awards acknowledging top Asia and Australasia banking institutions and individuals. Foreign Trade Bank of Cambodia received awards in two categories: Commercial Bank of the Year Cambodia 2015 and Best Innovation in Retail Banking Cambodia 2015.
International Banker offers a global view of banking and finance. Each year through the Banking Awards, it recognizes the leading banking institutions (and individuals), which have set the bar for industry excellence. The 2015 Banking Awards acknowledge the organizations within the banking and financial industry in Asia and Australasia that drive global economic commerce, create capital and opportunities for economic growth within their regions, set the benchmarks for technological advancement and customer service while maintaining high levels of regulatory compliance and corporate governance. The standout institutions working within retail, commercial, investment and private banking are recognized with these awards. In addition, special awards are given to outstanding CEOs in each region.
Honored with double awards to acknowledge and celebrate its innovation and leadership in the areas of commercial and retail banking in Cambodia, Foreign Trade Bank of Cambodia has achieved a prominent position on the 2015 International Banker Asia and Australasia Banking Awards list.
The first award, for Commercial Bank of the Year Cambodia, has been awarded to Foreign Trade Bank of Cambodia based on its achievements in meeting its goal of being "the preferred commercial bank in Cambodia". In operation for 36 years, the bank has transitioned from being fully state-owned to becoming a government-private joint stock bank, with only a small percentage now under state ownership. The bank has recently experienced double digit growth in assets, loans and net profits, even though Cambodia's national economy has experienced some setbacks, by concentrating on maximizing customer confidence, its level of service, and its range and quality of products. FTB's new and well-established branches in key areas of the country give small and medium-sized enterprises (SMEs) greater access to finance and in the process help to develop local business. Its network across the country was further strengthened through its strategic partnership with WING (Cambodia) Ltd, the first mobile-payment services provider in Cambodia. FTB has addressed concerns regarding high loan-to-deposit ratios in Cambodia's banking system by maintaining a conservative approach to risk management, ensuring its asset quality has remained high while non-performing loans stay at manageable levels.
Another area in which FTB has consistently led is corporate social responsibility (CSR). The bank supports important initiatives designed to assist some of the most disadvantaged in Cambodian society, such as those served by the Cambodian Red Cross.
The second award, Best Innovation in Retail Banking Cambodia 2015, recognizes FTB's dedication to ensuring that the latest and most innovative financial products are provided to its customers, before becoming available through its competitors. To stay well-informed of the development of these products, FTB has formed rewarding partnerships with several dynamic technology companies.
The bank's focus on providing innovative products will help ensure that FTB remains an industry leader upon further economic integration of ASEAN (Association of Southeast Asian Nations) countries. As one of the 10 regional members, Cambodia can expect to witness a steady influx of foreign banks, and Cambodian banks such as FTB will face increasing competition from foreign entities. However, its award-winning level of innovation and its dedication to providing first-class customer service render FTB well-positioned to thrive in this competitive environment and maintain a healthy share of the market.
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