Phnom Penh Post - LOLC scores strong social and institutional ratings

LOLC (Cambodia) Plc, one of the leading deposit-taking institutions in the Kingdom, has been honoured with a “BB +” Social Rating by Microfinanza.

The high score from the fully independent Italian consulting firm specialised in the microfinance sector was awarded after the evaluation was completed in February 2023.

This strong independent rating assessment demonstrates LOLC's impressive qualifications in meeting customers’ needs with reliable and responsible financial services to improve their quality of life.

The Social Rating methodology assessed the company on a number of criteria, such as Social Performance Management System, Client Protection and Social Responsibility, Outreach and Quality of Services.

And LOLC also racked up another high grade, scoring “α medium” ranking in the Institutional Rating.

The Institutional Rating methodology saw the company assessed on various criteria such as External Context, Governance and Strategy, Systems and Controls, Financial Profile and Portfolio Quality.

An “medium” Institutional Rating is considered a high grade.

All this demonstrates LOLC's continuous commitment to Social Performance Management and providing transparent services to clients, along with creating a clear strategic plan with a commitment to sustainability in the areas of environment, social and governance.

In financial management, LOLC continues to provide its diversified loan portfolios with the aim of expanding the quality and sustainability of its portfolio, as well as increasing the number of clients in rural areas across the Kingdom.

It continues to advance financial literacy, promoting the understanding of the benefits of savings accounts as well as digital banking services such as iPay Cambodia among its clients in all operating areas.