Provident Czech, part of International Personal Finance (IPF), a leading international provider of consumer credit, has been named as the most ethical financial institution in the Czech Republic for the second year running.
The status as the country’s most ethical financial institution was conferred by Člověk v tísni (Man in Need), an influential Non-Governmental Organisation (NGO), that first published the ethical index in 2009 to assess the products and services of non-banking lenders.
Provident was ranked in first place of the seven largest non-banking institutions operating in the Czech Republic. Provident was followed by Home Credit, Cetelem, Confidis, Profi Credit, Essox and eCredit.
Daniel Hůle who prepared the index for Člověk v tísni emphasised the fact that Provident’s contractual terms and conditions are the most transparent and it does not charge any default fees on its Home collected loans. The business was also praised for not having any arbitration clauses and securing titles.
Russell Johnsen, Country Manager of Provident Czech, was delighted with the accolade of most ethical financial institution. He said: “The business has worked incredibly hard to retain this status because it ultimately means we are looking after our customers and giving them relevant products that meet their specific needs.
“All departments have worked hard to improve customer service and, in particular, we were determined to revise our contractual terms and conditions, following feedback from last year’s audit. The fact that our terms and conditions are now recognised as an area of strength, alongside the fact that we do not charge default fees, is particularly encouraging.”
Člověk v tísni was critical of companies in the so-called ‘grey zone’ who have not joined the Czech Leasing and Financial Association. It said these companies were risky and that it would not recommend its products to consumers. The NGO also said that significant non-banking companies like Provident were becoming more ethical than the country’s banks.
The index of most ethical financial institutions is a high profile annual survey that is covered extensively in the Czech media. More information can be found at www.rozhodnene.cz
For further information contact:
Finsbury:
James Leviton +44(0) 207 251 3801
International Personal Finance plc
Nick Jones (media) +44 (0) 113 285 6815
