Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• a partner in society / a deepening commitment to microfinance

CETELEm: dEVELOpING

RESpONSIBLE CREdIT

In 2006 Cetelem’s efforts in the area of responsible

lending continued apace through the

Cetelem Foundation. The Foundation is a partner

of a number of major not-for-profit associations,

including Fondation Agir Contre l’Exclusion

(FACE), ATD Quart Monde, Secours Populaire

Français, Secours Catholique and Solidarité

Nouvelle face au Chômage (SNC). The Cetelem

Foundation also partners ADIE through its skills

patronage and support for the Microcredit

Week, and has adapted its Happycard

affinity programme to allow customers

to make donations to ADIE.

To reaffirm its commitment, in 2006 Cetelem

signed an agreement with Caisse des Dépôts,

enabling it to grant loans guaranteed by the

Fonds de cohésion sociale, a scheme set up

in France to develop community microcredit.

These loans, designed for those members of

society normally excluded from access to bank

credit, are set up by Cetelem in close collaboration

with CRESUS, an association for combating

over-indebtedness. Local social lending initiatives

have already been piloted in the Haut-Rhin,

Bourgogne, Île-de-France, Poitou-Charentes

and Pays de la Loire regions, and some 500 loans

are expected to be granted over a period of

two years. The financing includes personal

loans for between EUR 300 and EUR 3,000 (up

to EUR 12,000 in exceptional cases), granted

for a term of between 18 and 36 months (up

to 60 months in exceptional cases). The credit

risk is shared equally by Cetelem and the Fonds

de cohésion sociale.

These initiatives carry through Cetelem’s commitment

to responsible lending and to combating

over-indebtedness by making consumer

credit accessible to the widest possible number

of people.

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BNP PARIBAS AND ITS STAKEHOLDERS

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