Sathapana Bank Plc. certified for commitment to client protection

Phnom Penh, Cambodia – On July 11, 2016 at Phnom Penh Hotel hold an event of The Smart Campaign, a global initiative to incorporate strong client-protection practices into the microfinance industry. The ceremony aimed to award Sathapana Bank Plc. as a Client Protection Certified Institution in Cambodia for meeting strong standards of client care.

“We extend our heartfelt congratulations to Sathapana Bank Plc.” said Isabelle Barrès, Director of the Smart Campaign. “Their willingness to do the work it takes to prepare for and undergo the intensive process of evaluation is indicative of their deep commitment to their clients. They have shown that this bar is achievable in the area of client protection. Their example will catalyze a movement towards certification within the broader industry.”

The Smart Campaign’s Client Protection Certification program publicly recognizes those institutions providing financial services to low-income households whose standards of care uphold the Smart Campaign’s seven Client Protection Principles. These principles cover such important areas such as pricing, transparency, fair and respectful treatment and prevention of over-indebtedness. Currently, there are only 62 certified institutions which obtained this certificate globally.

Okhna Dr. Bun Mony, Chief Executive Officer of Sathapana Bank Plc. mentioned that “ The commitment to provide the best financial services with transparent pricing and the principles of client protection have always been embedded in the mindset of Sathapana Bank Plc.’s management and staff. We have worked for more than one year to make sure all the requirements of The Smart Campaign are fully complied. Adherence to CPP helps us to improve our services for customers and they will be happy to stay with us longer. Sustainability of financial institution is based on how much our clients is protected and benefit from our provided products and services. This new certificate lends credibility and demonstrates to our community that we continue to work everyday to improve our services and our commitment to best practices in financial industry”

Sathapana Bank Plc. has its strong principle on loan acquisition to make sure that all clients do not get more debt than they can repay. Also, the Bank always shows its transparent pricing on leaflet, brochure, website and other marketing material to make sure that all clients are clear with the price before accessing to the Bank’s products and services. The concept of the “Clients First” has made Sathapana treat its clients with respect. In addition, clients can give feedbacks or complaints when they encounter with any problem. Sathapana Bank Plc. also has its good principle that all complaints must be solved and the complaint solution, thereafter, should be informed to the clients to make sure that they are satisfied at the end.