August 17, 2009
Bank’s growth plans include countrywide expansion by 2012
PHNOM PENH, Cambodia--(BUSINESS WIRE)--MoneyGram International (NYSE: MGI), a global money transfer company, announced today an alliance with Advanced Bank of Asia, a growing commercial bank in the Kingdom of Cambodia, to begin MoneyGram money transfer service at all branch locations.
“We are pleased to add MoneyGram money transfer services throughout our network in Cambodia, providing more value to our customers,” said Mr. Madi Akmambet, CEO of Advanced Bank of Asia. “Widening our array of services to include MoneyGram money transfers to a network of 190 countries and territories satisfies our customers’ increasing demand for international money transfer.”
Nick Cunnew, senior regional director for MoneyGram Asia Pacific and South Asia, said, “Advanced Bank is focused on providing its customers banking for life with the highest level of service. MoneyGram is the perfect partner to bring fast, convenient and reliable money transfer services to their consumers across Cambodia.”
Advanced Bank of Asia is focused on product and service innovations such as strengthening its small and medium enterprise loans, card products, Internet banking functionalities and expansion of branch networks in Phnom Penh and other key provinces in Cambodia.
To send or receive money in Cambodia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds. The funds will be ready to collect in as little as ten minutes, subject to agent availability and hours of operation. All fees are paid by the sender. When applicable, a currency conversion fee may apply.
About MoneyGram International, Inc.
MoneyGram International offers more control and more choices for people separated from family and friends by distance to meet their financial needs. A leading global provider of money transfer services, MoneyGram International helps consumers to safely send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 180,000 agent locations in more than 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location, please visit www.moneygram.com. In Cambodia, MoneyGram service is also available at all branches of Canadia Bank and Cambodia Commercial Bank.
About Advanced Bank of Asia
Advanced Bank of Asia Limited (ABA) was established in October 1996 operating as a commercial bank in The Kingdom of Cambodia. The Bank's principal activity includes loans to individual and corporate borrowers, deposits and normal banking services. The Bank is also focused on product and service innovations such as strengthening its small and medium enterprise loans, card products, Internet banking functionalities. The bank currently has seven branches with plans to expand branch networks in Phnom Penh and other key provinces in Cambodia.
Contacts
MoneyGram International
Sabrina Chan, Hong Kong Phone: 852-2879-9903
sabrinachan@moneygram.com
Bank’s growth plans include countrywide expansion by 2012
PHNOM PENH, Cambodia--(BUSINESS WIRE)--MoneyGram International (NYSE: MGI), a global money transfer company, announced today an alliance with Advanced Bank of Asia, a growing commercial bank in the Kingdom of Cambodia, to begin MoneyGram money transfer service at all branch locations.
“We are pleased to add MoneyGram money transfer services throughout our network in Cambodia, providing more value to our customers,” said Mr. Madi Akmambet, CEO of Advanced Bank of Asia. “Widening our array of services to include MoneyGram money transfers to a network of 190 countries and territories satisfies our customers’ increasing demand for international money transfer.”
Nick Cunnew, senior regional director for MoneyGram Asia Pacific and South Asia, said, “Advanced Bank is focused on providing its customers banking for life with the highest level of service. MoneyGram is the perfect partner to bring fast, convenient and reliable money transfer services to their consumers across Cambodia.”
Advanced Bank of Asia is focused on product and service innovations such as strengthening its small and medium enterprise loans, card products, Internet banking functionalities and expansion of branch networks in Phnom Penh and other key provinces in Cambodia.
To send or receive money in Cambodia, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds. The funds will be ready to collect in as little as ten minutes, subject to agent availability and hours of operation. All fees are paid by the sender. When applicable, a currency conversion fee may apply.
About MoneyGram International, Inc.
MoneyGram International offers more control and more choices for people separated from family and friends by distance to meet their financial needs. A leading global provider of money transfer services, MoneyGram International helps consumers to safely send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 180,000 agent locations in more than 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location, please visit www.moneygram.com. In Cambodia, MoneyGram service is also available at all branches of Canadia Bank and Cambodia Commercial Bank.
About Advanced Bank of Asia
Advanced Bank of Asia Limited (ABA) was established in October 1996 operating as a commercial bank in The Kingdom of Cambodia. The Bank's principal activity includes loans to individual and corporate borrowers, deposits and normal banking services. The Bank is also focused on product and service innovations such as strengthening its small and medium enterprise loans, card products, Internet banking functionalities. The bank currently has seven branches with plans to expand branch networks in Phnom Penh and other key provinces in Cambodia.
Contacts
MoneyGram International
Sabrina Chan, Hong Kong Phone: 852-2879-9903
sabrinachan@moneygram.com
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