We act in a customer’s best interests, ensuring affordability, transparency of terms and conditions and supporting a borrower if they experience repayment difficulties. We have a responsibility to make sure borrowers understand the details of a loan and carry out thorough checks on any borrowers, so we can be confident that what customers will receive will be suitable for their circumstances.
The customer’s ability to repay is always taken into account. In addition, we take account of the customer’s actual or reasonably anticipated income, in reaching a decision on whether to enter into a loan contract. Understanding an individual’s creditworthiness and affordability is essential when it comes to finding the right product for the right person.
Loans and credits
We grant loans and credits on the basis of a professional credit assessment. It is in both the company's and the customer's interest that credit is extended only when the customer can manage the obligation.
The company undertakes a careful evaluation to obtain an understanding of the customer's financial situation. This means that in some cases the company must refrain from extending loans to customers.
With retail/individual customers, the company's policy is to offer professional advice that ensures that the customer understands the consequences of borrowing, saving and using the company's financial products and services. We evaluate our customers' future as well as current ability to repay obligations.
In the corporate lending area, the basis for the assessment of a customer's creditworthiness is its financial situation, external financial factors and an evaluation of its ability to operate a business. The company generally offers credits to all industries as long as the customer is creditworthy and complies with applicable laws, including environmental laws.
In the long run, it is the company's expertise and responsibility in credit assessment and advice that ensure that its customers avoid situations of financial default. The company therefore places an emphasis on maintaining its credit standards during both prosperous economic periods and difficult ones.
Ethical guidelines for credit
At our firm we acknowledge that the impact of our business on the environment and society extends beyond our own activities. For business customers, we therefore consider the purpose for which our products are used and assess possible environmental, social and ethical (ESE) risks associated with the lending.