Phnom Penh (FN), Mar. 13 – National Bank of Canada, the parent company of ABA, issued a statement denying a media report that said it was in talks to sell its Cambodian unit, ABA Bank.

“Following the publication of media articles this morning, and while it is not customary for National Bank ("the Bank") to comment on market rumours, the Bank is currently not engaged in any process or negotiations for the sale of ABA Bank ("ABA"), nor has it hired any advisors,” according to the statement seen by Fresh News on Wednesday (Mar. 13).

“ABA is a success story, delivering strong growth and superior returns for National Bank. For the year ended 31 October 2023, ABA generated revenues of CAD726 million and CAD343 million in net income.”

“National Bank continues to support ABA's growth and participation in the establishment of a sound and resilient banking industry for Cambodia, underpinned by attractive economic prospects and strong fundamentals,” the statement added.

On 12 March 2024, Bloomberg News reported that the National Bank of Canada is exploring options including a sale of ABA Bank, which could be valued at more than USD2 billion in a deal.
=FRESH NEWS