Annual Report 2007

More documents

Recommendations

Info

A n n u a l R e p o r t 2 0 0 7 The Bank and its Shareholders Banco ProCredit Mozambique is a member of the ProCredit group, which is led by its Frankfurtbased parent company, ProCredit Holding. With over 85% of the shares, ProCredit Holding is the majority owner of Banco ProCredit. Banco ProCredit was founded at the end of 2000 by an alliance of international developmentoriented investors. Their goal was to establish a new kind of financial institution that would serve the demand of small and very small businesses in a socially responsible way. The primary aim was not short-term profit maximisation, but rather to deepen the financial sector and contribute to longterm economic development while also achieving a sustainable return on the investment. Shareholder (as of Dec. 31, 2007) ProCredit Holding DOEN FFH Total Capital Sector Investment Investment Government ProCredit Holding is the parent company of a global group of 22 ProCredit banks. ProCredit Holding was founded as Internationale Micro Investitionen AG (IMI) in 1998 by the pioneering development finance consultancy company IPC. ProCredit Holding is committed to expanding access to financial services in developing countries and transition economies by building a group of banks that are the leading providers of fair, transparent financial services for very small, small and medium-sized businesses as well as the general population in their countries of operation. In addition to meeting the equity needs of its subsidiaries, ProCredit Holding guides the development of the ProCredit banks, provides their senior management, and supports the banks in all key areas of activity, including banking operations, human resources and risk management. It ensures that ProCredit corporate values, bestpractice banking operations and Basle II risk management principles are implemented groupwide. The founding shareholders of Banco ProCredit were Banco Internacional de Moçambique (BIM), InternationaleMicroInvestitonenAG(IMI),International Finance Corporation (IFC), the Netherlands Development Finance Company (FMO), Stichting DOEN – Postcode Loterij/Sponsor Loterij/Bank- Giro Loterij, and Fundo para o Fomento da Habitação (FFH). The management of the bank was provided by Internationale Projekt Consult (IPC). Over the years, ProCredit Holding, working closely with IPC, has consolidated the ownership and management structure of all the ProCredit banks and financial institutions to create a truly global group with a clear shareholder structure and to bring to each ProCredit institution all the synergies and benefits that this implies. Today’s shareholder structure of Banco ProCredit is outlined below. The bank’s current share capital is USD 5.4 million. Headquarters Germany The Netherlands Mozambique Share 85.54% 12.13% 2.33% 100% Paid-in Capital (in USD ’000) 4,633 657 126 5,416 IPC is the leading shareholder and strategic investor in ProCredit Holding. IPC has been the driving entrepreneurial force behind the ProCredit group since the foundation of the banks. Historically, IPC provided the senior managers of the ProCredit banks. At the end of 2007, IPC staff were integrated into ProCredit Holding, significantly strengthening the company’s ability to support the ProCredit group. ProCredit Holding is a public-private partnership. In addition to IPC and IPC Invest (the investment vehicle of the staff of IPC and ProCredit), the other private shareholders of ProCredit Holding include the Dutch DOEN Foundation, the US pension fund TIAA-CREF, the US Omidyar-Tufts Microfinance Fund, the Swiss investment fund responsAbility and the Salvadoran company Fundasal. The public shareholders of ProCredit Holding include KfW (the AAA-rated German promotional bank), IFC (the AAA-rated private sector arm of the World Bank), FMO (the Dutch development bank) and BIO (the Belgian development fund).
ProCredit Holding has an investment grade rating (BBB-) from Fitch Ratings Agency. As of the end of 2007, the equity base of the ProCredit group is EUR 333.2 million. The total assets of the ProCredit group are EUR 4.1 billion. Stichting DOEN – Postcode Loterij/Sponsor Loterij/Bank- Giro Loterij was set up in 1991 to promote a liveable world in which everyone can play a part. To that end DOEN invests in and subsidises initiatives in the fields of sustainable development, culture, welfare and social cohesion. DOEN funds its activities from annual contributions received under long-term contracts from its founder, the Nationale Postcode Loterij, and two other Dutch charity lotteries, the BankGiro Lottery and the Sponsor Bingo Lottery. Th e B a n k a n d i t s S h a r e h o l d e r s Since 1994 DOEN Foundation finances entrepreneurial and sustainable initiatives that improve access to the financial sector in countries in transition and developing countries. DOEN has a preference for long-term strategic partnerships. In 1998 it started working with ProCredit Holding and has since been a strategic investor. Fundo para o Fomento da Habi- tação (FFH) was selected by the Mozambican Government as the institution through which it holds its 2.33% stake in Banco ProCredit. FFH was founded in 1995 as a governmental institution with financial and administrative autonomy. Its mission is to provide support to those sections of the economically active population that lack the resources to improve their housing. The instruments at its disposal include technical assistance and credit, both for the construction of new dwellings and for the improvement of existing housing.
Page 1 and 2: Annual Report 2007
Page 3 and 4: Mission Statement 4 Letter from the
Page 5: Letter from the Board of Directors
Page 9 and 10: the group as a whole, expressed in
Page 11 and 12: ProCredit in Africa ProCredit is pr
Page 13 and 14: Name ProCredit Bank Democratic Repu
Page 15 and 16: anches during 2007, one in Xai-Xai,
Page 17 and 18: Political and Economic Environment
Page 19 and 20: other branches in southern Mozambiq
Page 21 and 22: Other Banking Services Banco ProCre
Page 23 and 24: M a n a g e m e n t B u s i n e s s
Page 25 and 26: Manjacaze; the one in Matola, servi
Page 27 and 28: ing from Banco ProCredit’s activi
Page 29 and 30: a reliable and sustainable institut
Page 31 and 32: of instruction covering a total of
Page 33 and 34: Business Ethics and Environmental S
Page 35 and 36: Aníbal Hilário Wate, Potter Aníb
Page 37 and 38: Maria Simão had always wanted to h
Page 39 and 40: F i n a n c i a l S tat e m e n t s
Page 41 and 42: Income Statement For the years ende
Page 43 and 44: 4. Loans and advances to customers
Page 45 and 46: The state creditor balance includes
Page 47: Contact Addresses Head Office Av. Z

Annual Report 2007

Create successful ePaper yourself

Delete template?

Save as template?