Canadia Bank Wins Best SME Bank in Cambodia in Global SME Banking Innovation Awards 2023

Canadia Bank, a long-established and one of the leading commercial banks in Cambodia, has been recognized as the “Best SME Bank” in the Digital Banker’s Global SME Banking Innovation Awards 2023. The Digital Banker is a globally-renowned publication of trusted news, business intelligence, and research for the financial services sector worldwide.

The Digital Banker’s Global SME Banking Innovations Award 2023 recognizes the institutional excellence and business achievements of the most pioneering and trail-blazing SME banking players operating in their respective countries.

Canadia Bank has been awarded the Best SME Bank by the Digital Banker for registering a strong traction among its SME customer base in Cambodia. Canadia Bank leverages on its digital ecosystem to make financing more accessible to SME clients, does significant improvements on its loan approval process, intensifies the team capacity-building efforts, and solidifies its collaboration efforts with local entrepreneurship organizations.

The Best SME Bank Award is a recognition of Canadia Bank’s on-going digital transformation journey to make financial accessibility easier for SME customers through digital payment solutions. The Bank recently launched the all-new Canadia Bank App that allows quick transferring and receiving of payments for SME clients using only their mobile phones.

Canadia Bank is also launching more Smart Branches, which are digital hubs equipped with the latest self-service banking devices, such as Virtual Teller Machines, Smart Card-Issuing Machines, Cash/Cheque Deposit Machines, and ATMs, to provide the SME customers with convenient self-banking experiences. At the same time, the Bank is not compromising on ‘’human touch” in its current 67 branches for customers who require business consultations.

With 32 years presence in Cambodia’s financial market, Canadia Bank has created a strong SME portfolio by continuously innovating its products and services, investing in digital solutions, and participating in Government-led initiatives for SMEs. The Bank is one of the first participating institutions in the Business Recovery Guarantee Scheme (BRGS) led by Credit Guarantee Corporation of Cambodia (CGCC). Recently, it has been awarded by CGCC as one of the Top Performing Financial Institutions in Cambodia with the highest guaranteed loans with CGCC for 2022.

In addition, Canadia Bank has been recognized several times as Best SME Bank by reputable global and regional publications. The same award was given by International Finance magazine in 2018 and 2022 and by Asiamoney in 2021.

Mr. Raymond Sia, Canadia Bank’s CEO and Executive Board Director, is delighted of Canadia Bank’s another landmark achievement.

“Canadia Bank is honored to have been awarded as the Best SME Bank in Cambodia in the Global SME Banking Innovation Awards 2023. We are grateful to Digital Banker for recognizing our hard work in making sustainable finance accessible to SME customers in Cambodia. We would like to thank our SME customers and partners for putting their trust in us through the years. We will continue to develop innovative products and services that will provide greater financial accessibility to further the growth of SME businesses in Cambodia.”

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