ABA: Potential Sale by National Bank

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Roryborealis
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Re: ABA: Potential Sale by National Bank

Post by Roryborealis »

Cooldude wrote: ↑Wed Mar 13, 2024 9:33 am Less branches and more ATM self servicing centers will continue to be the trend for all banks, globally, until they no longer exist as we knew them 20 years ago

This trend has hit the States in a big way also since Covid. Lots of empty bank buildings around that aren't really good for any other businesses to move into. Also, the quality of bank tellers has decreased significantly if they can find anyone who wants the job. I do all of my banking internationally from my phone. No need to go into a bank that much anymore.
Empty commercial real estate is being repurposed and rezoned. Without replacement anchor tenants, many properties are going residential.

I still wander around bank lobbies and get an occasional roll of coins from a teller if only to see what all those employees do in there all day.
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JJ62
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Re: ABA: Potential Sale by National Bank

Post by JJ62 »

Probably a compliance matter. Cambodian banking is rarely off the 'grey list' of international regulators OECD & their CRS, FATCA obligations, etc, so there's probably governance pressure to exit ABA. 🧐
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xandreu
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Re: ABA: Potential Sale by National Bank

Post by xandreu »

Cooldude wrote: ↑Wed Mar 13, 2024 9:33 am Less branches and more ATM self servicing centers will continue to be the trend for all banks, globally, until they no longer exist as we knew them 20 years ago

This trend has hit the States in a big way also since Covid. Lots of empty bank buildings around that aren't really good for any other businesses to move into. Also, the quality of bank tellers has decreased significantly if they can find anyone who wants the job. I do all of my banking internationally from my phone. No need to go into a bank that much anymore.
This has been going on for the past 30 years or so. Banking has gone through two major revolutions since their inception. The first was the ATM machine. This drastically reduced the need for people to physically go into a branch. The second was mobile banking, which together, has meant that at least 95% of all banking activities can be done via an ATM machine, an app, or over the phone. Barely anyone needs to go into a branch anymore, especially with all mobile phones having some form of secure identification system, either facial recognition or fingerprint validation. There may still be some paper forms which still need a physical signature (or thumbprint in Cambodia) but even these are deliberately being phased out. Soon there will be no reason at all for branches to exist.

There are banks in the UK which are exclusively online, having no physical branches whatsoever. If they can do it, there's no reason all banks can't do it. Not only do I not remember the last time I had to go into a branch, but I can't remember the last time I used my debit card, and am unlikely to replace it when it expires.
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
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SiemReapLOL
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Re: ABA: Potential Sale by National Bank

Post by SiemReapLOL »

Bluenose wrote: ↑Wed Mar 13, 2024 9:16 am
Kammekor wrote: ↑Wed Mar 13, 2024 8:49 am
Stravaiger wrote: ↑Wed Mar 13, 2024 7:41 am National Bank of Canada denies media report of talks to sell its Cambodian unit
March 12, 202410:55 PM GMT+7Updated 9 hours ago

https://www.reuters.com/markets/deals/n ... 024-03-12/
Of course they deny it. That statement means nothing.
But statements by "people asking not to identified" are to be trusted?
Who do you trust more? Reuters or HM?
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Doc67
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Re: ABA: Potential Sale by National Bank

Post by Doc67 »

Roryborealis wrote: ↑Wed Mar 13, 2024 10:39 am
Cooldude wrote: ↑Wed Mar 13, 2024 9:33 am Less branches and more ATM self servicing centers will continue to be the trend for all banks, globally, until they no longer exist as we knew them 20 years ago

This trend has hit the States in a big way also since Covid. Lots of empty bank buildings around that aren't really good for any other businesses to move into. Also, the quality of bank tellers has decreased significantly if they can find anyone who wants the job. I do all of my banking internationally from my phone. No need to go into a bank that much anymore.
Empty commercial real estate is being repurposed and rezoned. Without replacement anchor tenants, many properties are going residential.

I still wander around bank lobbies and get an occasional roll of coins from a teller if only to see what all those employees do in there all day.
Maybe these new ATM outlets are in buildings where they have lent money, and the only way to prop up the loan from a non-performing one back to a performing one is to take the space and pay some rent - to themselves!
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Kammekor
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Re: ABA: Potential Sale by National Bank

Post by Kammekor »

Bluenose wrote: ↑Wed Mar 13, 2024 9:16 am
Kammekor wrote: ↑Wed Mar 13, 2024 8:49 am
Stravaiger wrote: ↑Wed Mar 13, 2024 7:41 am National Bank of Canada denies media report of talks to sell its Cambodian unit
March 12, 202410:55 PM GMT+7Updated 9 hours ago

https://www.reuters.com/markets/deals/n ... 024-03-12/
Of course they deny it. That statement means nothing.
But statements by "people asking not to identified" are to be trusted?
It doesn't matter, don't trust anyone working for, or related to, finance. They're after their own interests only.
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paul2d
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Re: ABA: Potential Sale by National Bank

Post by paul2d »

UPDATE: Statement by National Bank denying they are not in any process or negotiations for the sale of ABA Bank: https://www.nbc.ca/about-us/news-media/ ... -bank.html

It remains to be seen what the final outcome will be, but where there is smoke you usually find a bit of fire.
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ali baba
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Re: ABA: Potential Sale by National Bank

Post by ali baba »

xandreu wrote:I can't remember the last time I used my debit card, and am unlikely to replace it when it expires.
How do you pay for online shopping or sign up for online subscriptions?
Does the app provide an alternative 'virtual' card?
Scarier than malaria.
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Alex
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Re: ABA: Potential Sale by National Bank

Post by Alex »

ali baba wrote: ↑Thu Mar 14, 2024 9:52 am
xandreu wrote:I can't remember the last time I used my debit card, and am unlikely to replace it when it expires.
How do you pay for online shopping or sign up for online subscriptions?
Does the app provide an alternative 'virtual' card?
ABA does offer virtual cards, and in my experience, they work very well and are accepted virtually (pun intended) everywhere I've tried. The one exception being a Vietnamese merchant, but I later read that they don't accept ANY cards issued by non-Vietnamese banks, so not an ABA Bank issue after all.
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Roryborealis
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Re: ABA: Potential Sale by National Bank

Post by Roryborealis »

paul2d wrote: ↑Thu Mar 14, 2024 3:55 am UPDATE: Statement by National Bank denying they are not in any process or negotiations for the sale of ABA Bank: https://www.nbc.ca/about-us/news-media/ ... -bank.html

It remains to be seen what the final outcome will be, but where there is smoke you usually find a bit of fire.
Whoever leaked the info in the initial report must be getting their ass handed to them, so to speak.
(assuming they've been identified)
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