Phnom Penh, 17 November 2020 - Sathapana Bank announces its rejection of a post by an online news website that is deemed as “false information” which was released on 15th November 2020 under a title of “Cambodia’s Sathapana Bank placed on Human Rights Watch List”.
The article had alleged that “Sathapana was named for intimidating and coercing borrowers affected by the COVID-19 pandemic to sell assets...”
Sathapana Bank states the accusation in the article is untrue and baseless. The whole article was written very negatively towards Sathapana Bank which clearly show it is mendacious propaganda to defame the bank.
Sathapana Bank is committed to assist Cambodians and confidently walk with them together through this tough time of the outbreak of COVID-19. We have always fully supported the measures and recommendations by the Royal Government of Cambodia and the National Bank of Cambodia to deal with present challenges and minimize negative impacts during this pandemic. To ensure business sustainability in Cambodia, the bank continues to provide loans to all businesses. In addition, the bank also maintains a gentle attitude and review at the practical possibilities of resolving late repayments of debts caused by the negative effects of COVID-19 as well as restructuring loans for its borrowers amounting to USD178.8M which is about 12% of its total loan portfolio as of October 2020.
About Sathapana Bank
Sathapana Bank is one of the leading commercial banks in Cambodia with total assets of over US$2.0 billion and more than 4,000 employees. We have large branch network nationwide with more than 170 branches and more than 220 ATMs with cash recycling capability. We provide full banking services such as loans, deposits, iBanking, Mobile Banking, debit & credit cards, domestic and foreign remittances, Western Union, trade finance, and other services. We are also offering tax collection services, public services payment with the Ministry of Public Works and Transportation, and various cooperation with mobile payment providers such as WING, Pi Pay, True Money, Ly Hour Veluy, eMoney, and Bakong to give further convenience to our customers.