Annual Report 2009 - ProCredit

32
Annual Report 2009
public-private partnership. The private shareholders
include: IPC and IPC Invest, an investment
vehicle set up by IPC and ProCredit staff
members; the Dutch DOEN Foundation; the US
pension fund TIAA-CREF; the US Omidyar-Tufts
Microfinance Fund; and the Swiss investment
fund responsAbility. The public shareholders
include the German KfW Bankengruppe (KfW
banking group); IFC, the private sector arm of the
World Bank; the Dutch development bank FMO;
the Belgian Investment Company for Developing
Countries (BIO) and Proparco, the French Investment
and Promotions Company for Economic
Co-operation. The group also receives strong
support from the EBRD and Commerzbank, our
minority shareholders in Eastern Europe, and
from the Inter-American Development Bank (IDB)
in Latin America. With the strong support of its
shareholders and other partners, the ProCredit
group ended the year with a total capital adequacy
ratio of 16% – a figure that reflects their confidence
in the group.
ProCredit Holding is not only a source of equity
for its subsidiaries, but also a guide for the development
of the ProCredit banks, providing the
personnel for their senior management and offering
support in all key areas of activity. The
holding company ensures the implementation of
ProCredit corporate values, best practice banking
operations and Basel II risk management
principles across the group. The group’s business
is run in accordance with the rigorous regulatory
standards imposed by the German banking
supervisory authority (BaFin).
ProCredit Holding and the ProCredit group place
a strong emphasis on human resource management.
Our “neighbourhood bank” concept is not
limited to our target customers and how we reach
them; it also concerns the way in which we work
with our staff and how we encourage them to
work with their customers. The strength of our relationships
with our customers will continue to be
central to working with them effectively in 2010
and achieving steady business results.
A responsible approach to neighbourhood banking
requires a decentralised decision-making
process and a high level of judgment and adaptability
from all staff members, especially our
branch managers. Our corporate values embed
principles such as open communication, transparency
and professionalism into our day-to-