Logo of Phnom Penh Post newspaper Phnom Penh Post - Sathapana Bank proceeds with logo change

Sathapana Bank proceeds with logo change

A man passes the head office of Sathapana Bank in Phnom Penh last month, after the bank removed its corporate logo.
A man passes the head office of Sathapana Bank in Phnom Penh last month, after the bank removed its corporate logo. Pha Lina

Sathapana Bank proceeds with logo change

Sathapana Bank has pre-emptively removed its signature golden lion logo from all 162 branches nationwide as the private bank aims to deflect government criticism and avoid confusion as being identified as a state-owned institution, a bank executive said yesterday.

While a new logo has yet to be designed, Lim Aun, acting CEO of Sathapana Bank, said that the decision was not forced by a direct order by the National Bank of Cambodia (NBC), which advised in February that financial institutions need to avoid using a lion or riel currency symbol in their logo as these symbols appear in the logos of government bodies.

“We did not receive a direct order to change the logo, but the central bank’s announcement mentioned clearly that we needed to avoid using the golden lion,” he said. “That is why we decided to remove it.”

Aun said no timeline had been set for the bank to complete the logo change. By contrast, Acleda Bank and Prasac Microfinance hastily changed their logos last month after being singled out by Prime Minister Hun Sen.

While he declined to estimate the cost involved, Aun said the rebranding would include billboards, bank cards and other related documents. He added that Sathapana’s microfinance arm in Myanmar, which has 10 branches and one branch in Laos, would also change their logo.

“We want to have a new logo that can be easily identified by people who are not only in Cambodia, but also in other countries,” Aun said, adding that Sathapana would prefer a logo that differentiates the bank from its competitors and is more eye-catching than simple text.

In February, the government ordered Acleda Bank, Cambodia’s largest bank in terms of assets, to change its logo to better differentiate itself from the Ministry of Economy and Finance, which also used a mythical golden bird for its identity. A bank official estimated the cost of the logo change at about $3.5 million.

Less than a week later, Prasac Microfinance, which used the symbol for riel currency, was ordered to replace its logo. The cost of the operation was estimated at $1 million.

MOST VIEWED

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • PM confirms third Covid-19 community transmission

    Prime Minister Hun Sen on February 20 announced the Kingdom's third outbreak of Covid-19 community transmission after 32 people tested positive in just over 10 hours. Addressing the public from his residence after an emergency meeting, Hun Sen said: "I dub it February 20 Community Event, in which 32 cases

  • Cambodia to make auto-rickshaws

    Locally-assembled electric auto-rickshaws could hit the Cambodian market as soon as early in May after the Council for the Development of Cambodia (CDC) gave the greenlight to an investment project at the weekend. According to a CDC press release, it will issue a final registration