CAN's 2009 annual report documents their approach of empowering customers to foster social change through their civic banking model. [1] CAN created a unique banking model where customers are informed how profits from their money are used and they decide which social projects to fund, [2] CAN also formed the Banca Civica Group through merging with other savings banks to improve efficiency while maintaining local roots, and fosters new values like citizenship, sustainability and social responsibility.
Civic Banking is a transparent and participative banking model where customers can decide how 30% of the bank's profits are used to support good causes. It allows customers to choose which projects their money supports and creates networks of customers helping local communities and businesses. This model is sustainable and profitable, with the bank now looking to expand it internationally.
Pidilite Industries is the leading player in the Indian adhesives market with a 60% market share. Its flagship brand Fevicol contributes 50% of Pidilite's total revenue. Fevicol scores highly on brand awareness, loyalty and quality perception among its target audience of carpenters, designers, and household owners. Pidilite has extended the Fevicol brand through line extensions like Fevicol Speedex and brand extensions like Fevicol Marble Glue to cater to different product categories while maintaining brand consistency. It follows a cost-based pricing strategy and sells through a three-tier distribution channel of C&F agents, wholesale stockists and retailers.
Caja Navarra (CAN) is a savings bank in Spain that has implemented a strategy of "Civic Banking" focused on social innovation to better compete in the highly developed Spanish banking market. [1] CAN formulates its strategy around creating "rights" for clients through introducing "duties" for the bank to follow. A key part of this strategy was launching the "You Choose, You Decide" program in 2003, which gave clients the right to choose how CAN allocates its social spending profits. [2] This program increased client participation and transparency while also allowing CAN to grow and better compete. [3]
Caja Navarra is a savings bank in Spain that has implemented an innovative "Civic Banking" strategy to better compete. The strategy gives customers new rights like deciding how the bank's profits are used for social projects. It has led to strong economic results for the bank and more customer engagement. Civic Banking is expressed through programs that empower customers to choose social spending allocations, volunteer, and use bank community spaces. This social innovation approach has increased transparency while helping the bank grow and compete more effectively.
Santander Bank Annual Report 2011 Letter from Chief Executive Officer, Alfred...BANCO SANTANDER
Banco Santander's CEO Alfredo Sáenz discusses the bank's 2011 financial results and outlook in a letter to shareholders. The bank's profits declined in 2011 due to the European sovereign debt crisis but its core businesses performed well. The CEO emphasizes that Santander has taken steps to strengthen its balance sheet and is well-positioned to recover profitability as the economic environment stabilizes in the coming years.
Banca IFIS provided a quarterly newsletter summarizing key events and initiatives. It discussed the bank's strong financial performance in 2013, plans for continued growth, and new/expanded services including the rebranding of Credi Impresa Futuro branches, a blogtour celebrating the bank's 30th anniversary, and the launch of a new rendimax website and app. It also highlighted new job openings and upcoming events.
Credit Suisse Group reported strong financial results for the first quarter of 2006, with net income up 36% from the same period in 2005. The Investment Banking segment achieved record results, with income from continuing operations before taxes increasing 68% due to revenue growth across all business areas. Private Banking also performed well, with income from continuing operations before taxes rising 34% due to higher commissions and fees. Overall, Credit Suisse benefited from positive market conditions and strong client activity across its businesses in the first quarter.
This document is Saxo Bank's 2009 annual report which summarizes their financial performance and strategic developments that year. The report indicates that while 2009 presented economic uncertainty, Saxo Bank was able to achieve satisfactory financial results including operating income of DKK 2.2 billion and net profit of DKK 201 million. It also details Saxo Bank's participation in the Danish state guarantee scheme, its continued restructuring efforts, and outlines its new strategic direction targeting four categories of clients.
Civic Banking is a transparent and participative banking model where customers can decide how 30% of the bank's profits are used to support good causes. It allows customers to choose which projects their money supports and creates networks of customers helping local communities and businesses. This model is sustainable and profitable, with the bank now looking to expand it internationally.
Pidilite Industries is the leading player in the Indian adhesives market with a 60% market share. Its flagship brand Fevicol contributes 50% of Pidilite's total revenue. Fevicol scores highly on brand awareness, loyalty and quality perception among its target audience of carpenters, designers, and household owners. Pidilite has extended the Fevicol brand through line extensions like Fevicol Speedex and brand extensions like Fevicol Marble Glue to cater to different product categories while maintaining brand consistency. It follows a cost-based pricing strategy and sells through a three-tier distribution channel of C&F agents, wholesale stockists and retailers.
Caja Navarra (CAN) is a savings bank in Spain that has implemented a strategy of "Civic Banking" focused on social innovation to better compete in the highly developed Spanish banking market. [1] CAN formulates its strategy around creating "rights" for clients through introducing "duties" for the bank to follow. A key part of this strategy was launching the "You Choose, You Decide" program in 2003, which gave clients the right to choose how CAN allocates its social spending profits. [2] This program increased client participation and transparency while also allowing CAN to grow and better compete. [3]
Caja Navarra is a savings bank in Spain that has implemented an innovative "Civic Banking" strategy to better compete. The strategy gives customers new rights like deciding how the bank's profits are used for social projects. It has led to strong economic results for the bank and more customer engagement. Civic Banking is expressed through programs that empower customers to choose social spending allocations, volunteer, and use bank community spaces. This social innovation approach has increased transparency while helping the bank grow and compete more effectively.
Santander Bank Annual Report 2011 Letter from Chief Executive Officer, Alfred...BANCO SANTANDER
Banco Santander's CEO Alfredo Sáenz discusses the bank's 2011 financial results and outlook in a letter to shareholders. The bank's profits declined in 2011 due to the European sovereign debt crisis but its core businesses performed well. The CEO emphasizes that Santander has taken steps to strengthen its balance sheet and is well-positioned to recover profitability as the economic environment stabilizes in the coming years.
Banca IFIS provided a quarterly newsletter summarizing key events and initiatives. It discussed the bank's strong financial performance in 2013, plans for continued growth, and new/expanded services including the rebranding of Credi Impresa Futuro branches, a blogtour celebrating the bank's 30th anniversary, and the launch of a new rendimax website and app. It also highlighted new job openings and upcoming events.
Credit Suisse Group reported strong financial results for the first quarter of 2006, with net income up 36% from the same period in 2005. The Investment Banking segment achieved record results, with income from continuing operations before taxes increasing 68% due to revenue growth across all business areas. Private Banking also performed well, with income from continuing operations before taxes rising 34% due to higher commissions and fees. Overall, Credit Suisse benefited from positive market conditions and strong client activity across its businesses in the first quarter.
This document is Saxo Bank's 2009 annual report which summarizes their financial performance and strategic developments that year. The report indicates that while 2009 presented economic uncertainty, Saxo Bank was able to achieve satisfactory financial results including operating income of DKK 2.2 billion and net profit of DKK 201 million. It also details Saxo Bank's participation in the Danish state guarantee scheme, its continued restructuring efforts, and outlines its new strategic direction targeting four categories of clients.
Banca IFIS had a very positive first quarter of 2012, with net banking income up 116.3% and net profit from financial activities increasing 146.4%. The bank joined the FTSE Italia Mid Cap index and saw continued growth in retail funding. For the rest of 2012, the bank aims to acquire new customers and loans to enhance services while also focusing on new projects in insolvency procedures. Banca IFIS also introduced a new website to improve transparency and interaction with stakeholders.
This dissertation explores whether minibonds can help Italian small and medium enterprises (SMEs) grow after the financial crisis. The document provides background on the financial crisis's negative impact on the Italian economy and SMEs' overreliance on short-term bank debt. It introduces minibonds as a financial tool introduced by the Italian government in 2012 to help SMEs obtain long-term financing and reduce dependence on banks. The dissertation will analyze SME capital structures before and after minibond issuances, present a case study of an Italian company that used minibonds, and conclude by assessing whether minibonds have achieved the goal of helping SMEs restart growth.
BNP Paribas Corporate and Investment Banking (CIB) had a successful 2010, moving up to a top position in the industry thanks to its long-term client-centric strategy. CIB expanded its businesses in Europe and plans to become the largest bank for European corporates. It also has growth plans in other regions like North America, Latin America, the Middle East, Africa, and Asia, aiming to be a reference bank in Asia. CIB helped its clients manage challenges in 2010 through its ability to manage complexity and provide financial solutions.
This document summarizes a paper on how structured covered bonds can help finance small and medium enterprises (SMEs) in Spain. It discusses how the financial crisis negatively impacted SME lending in Spain. New regulations under Basel III may further discourage bank lending to SMEs due to high capital requirements for SME loans. The document proposes that Banco Santander could issue a covered bond using a pool of SME loans as collateral to help revitalize SME financing. It analyzes the relevant Spanish legal framework and structures a possible covered bond that could receive investment grade ratings.
1) The Interpublic Group of Companies reported solid and steady progress in 2006, including organic revenue growth and continued strengthening of its talent base.
2) Significant strategic moves in 2006 included merging Draft and fcb to form Draftfcb, an integrated creative agency, and reorganizing media operations.
3) IPG improved its capital structure through an ELF transaction and debt exchanges, providing more flexibility to invest in digital and emerging markets.
The Interpublic Group of Companies 2006 Annual Report summarizes the company's performance and strategic direction. In 2006, Interpublic achieved organic revenue growth, remediated financial controls, and positioned itself for future growth through strategic mergers and investments. Looking forward, Interpublic aims to continue improving financial strength and transition to revenue growth by investing in digital capabilities and emerging markets.
This year, we are presenting a special edition of the report on the impact of the MicroBank microcredits that we have been producing every year since 2010. In this edition, on the occasion of MicroBank’s tenth anniversary, we wanted to give an overview of the impact of the microcredits awarded by the entity since it began in 2007. In this way, MicroBank continues making a considerable contribution to generating knowledge on the microcredits and their effects among their beneficiaries, demonstrating their strong belief that this instrument helps create social value.
The document summarizes Spain's new financial sector reform which aims to accelerate the clean-up of banks' balance sheets and restore confidence in the Spanish financial system. Key elements of the reform include making banks' property assets more transparent through independent audits, isolating property assets from other performing assets, and introducing new capital requirements for property assets on banks' balance sheets. Next steps will need to define backstop mechanisms to provide resources and guarantees for potential losses from property asset impairments being higher than expected. The reform also creates asset management companies to take troubled real estate assets from banks and subsequently sell them over the coming years.
Speech by Emilio Botín 2014 Annual General Meeting BANCO SANTANDER
This document summarizes Emilio Botín's speech at Banco Santander's annual general meeting on March 28, 2014. Botín discussed Banco Santander's 2013 results and shareholder remuneration, their banking model and strategic position regarding the European banking union, corporate governance changes, and an optimistic outlook for 2014. Key points included a 90% increase in 2013 profits, maintaining a dividend of €0.60 per share, and that Santander's diversification positions it well for regulatory changes and economic opportunities.
- Banco Indusval & Partners (BI&P) reported financial results for 2Q11 and 1H11, marking a new phase with a new vision, partnerships, and strategy.
- Loan portfolio grew 6% in 2Q11 compared to 1Q11, led by corporate clients. Overdue loans over 60 days were 6.8% of the portfolio but were covered 143.5% by loan loss provisions.
- Net income was R$5.1 million in 2Q11 compared to a net loss of R$54.5 million in 1Q11, as the new strategy's impact is not yet fully reflected in results. BI&P remains well capitalized with a Basel ratio
New technologies and increasing competition have led to significant changes in the banking industry in India. Banks now offer many new services beyond traditional savings and loans, such as phone banking, online banking, ATMs, credit cards, and investment services. This allows customers more convenience in accessing their accounts and conducting financial transactions anywhere at any time. While technological advancements have improved customer experience, they have also increased risks around security and fraud that banks must address.
New technologies and increasing competition have led to significant changes in the banking industry in India. Banks now offer many new services beyond traditional savings and loans, such as phone banking, online banking, ATMs, credit cards, and investment services. This allows customers more convenience in accessing their accounts and conducting financial transactions anywhere at any time. While technological advancements have improved customer experience, they have also increased risks around security and fraud that banks must address.
SG Trusts You is a proposed company that would develop microcredit insurance products to address the lack of confidence faced by poor families seeking loans. By improving borrowers' ability to repay loans even in difficult financial times, microcredit insurance could help borrowers access better interest rates and loan conditions. The company would partner with microfinance institutions to distribute these insurance products, benefiting both SG Trusts You and its MFI partners. The microcredit insurance market in Brazil is still untapped, representing an opportunity to help more people rise out of poverty through improved access to affordable loans.
Annual General Meeting José Antonio Álvarez speechBANCO SANTANDER
Grupo Santander reported a 39% increase in profits in 2014 to €5.8 billion, with strong growth across most business units. Looking ahead, Santander expects a continued gradual global economic recovery but also tougher regulatory requirements. The bank will focus on improving profitability further through initiatives like gaining market share, boosting customer loyalty, and maintaining strict cost control while investing in technology and commercial activities.
The document discusses Banca IFIS's strong financial results in the first 9 months of 2012, with profits up 175.5% and deposits increasing 75.6%. It also outlines the launch of the new contomax crowd banking account on January 7th and details various social media initiatives undertaken by the bank, including the StreetNetwork art contest and expansion of its online presence through platforms like LinkedIn, Facebook, and a new WebTV channel.
The document is the editorial note for the maiden edition of FirstBank's semi-annual publication, the FirstBank Review. It introduces the publication as a means for FirstBank to stimulate discussion on contemporary economic issues among decision makers. The editorial note highlights that the first issue will focus on "Unlocking the Domestic Credit Market" given the paradoxical situation where banks have excess liquidity but are reluctant to lend. It aims to explore the reasons for this credit conundrum and provide recommendations to help restore credit flows.
Banco Santander acquired Banco Popular as part of a resolution scheme adopted by the Single Resolution Board. The acquisition strengthens Santander's position in Spain and Portugal and is expected to generate cost synergies and profitability improvements. Santander also completed a €7.072 billion capital increase to reinforce its capital structure following the acquisition. In the first half of 2017, Santander reported net income of €3.616 billion and continued progress on its strategic priorities.
Accounting for small and medium Enterprises in PortugalVitor Santos
This paper, "Accounting for small and medium enterprises in Portugal", was proposed by the teacher Mrs. Mariana FARCAŞ Course in Financial Accounting.
We will begin this work with the definition of Small and Medium Enterprise, according to the European Commission's recommendation, also listing the objectives that led to the need to change this setting.
BayernLB has repositioned itself since the financial crisis to focus solely on customer business. It aims to be among the top banks for mid-sized and large German corporates. Corporates currently face challenges from volatile markets and low interest rates. Banks are developing new liquidity management products to help corporates. In the next year, corporates will have to prepare for higher costs of bank facilities and credit lines as Basel III is implemented. Banks like BayernLB are taking steps to ensure long-term relationships through economic cycles to support corporate customers.
Viálogos: 'En el andén de salida de la crisis'Caja Navarra
Intervención del director general de Caja Navarra, Enrique Goñi, en la Jornada Viálogos, titulada 'En el andén de salida de la crisis', celebrada el 17 de noviembre de 2009
El documento resume los esfuerzos de una organización para comunicarse con múltiples medios de comunicación tradicionales y en línea, ampliando los formatos de noticias para aumentar el impacto y profundizando en la transparencia y participación. La organización busca facilitar el trabajo de los medios al proporcionar información escrita, videos, fotos, audio y presentaciones, y solicita comentarios sobre cómo podría mejorar sus servicios.
Banca IFIS had a very positive first quarter of 2012, with net banking income up 116.3% and net profit from financial activities increasing 146.4%. The bank joined the FTSE Italia Mid Cap index and saw continued growth in retail funding. For the rest of 2012, the bank aims to acquire new customers and loans to enhance services while also focusing on new projects in insolvency procedures. Banca IFIS also introduced a new website to improve transparency and interaction with stakeholders.
This dissertation explores whether minibonds can help Italian small and medium enterprises (SMEs) grow after the financial crisis. The document provides background on the financial crisis's negative impact on the Italian economy and SMEs' overreliance on short-term bank debt. It introduces minibonds as a financial tool introduced by the Italian government in 2012 to help SMEs obtain long-term financing and reduce dependence on banks. The dissertation will analyze SME capital structures before and after minibond issuances, present a case study of an Italian company that used minibonds, and conclude by assessing whether minibonds have achieved the goal of helping SMEs restart growth.
BNP Paribas Corporate and Investment Banking (CIB) had a successful 2010, moving up to a top position in the industry thanks to its long-term client-centric strategy. CIB expanded its businesses in Europe and plans to become the largest bank for European corporates. It also has growth plans in other regions like North America, Latin America, the Middle East, Africa, and Asia, aiming to be a reference bank in Asia. CIB helped its clients manage challenges in 2010 through its ability to manage complexity and provide financial solutions.
This document summarizes a paper on how structured covered bonds can help finance small and medium enterprises (SMEs) in Spain. It discusses how the financial crisis negatively impacted SME lending in Spain. New regulations under Basel III may further discourage bank lending to SMEs due to high capital requirements for SME loans. The document proposes that Banco Santander could issue a covered bond using a pool of SME loans as collateral to help revitalize SME financing. It analyzes the relevant Spanish legal framework and structures a possible covered bond that could receive investment grade ratings.
1) The Interpublic Group of Companies reported solid and steady progress in 2006, including organic revenue growth and continued strengthening of its talent base.
2) Significant strategic moves in 2006 included merging Draft and fcb to form Draftfcb, an integrated creative agency, and reorganizing media operations.
3) IPG improved its capital structure through an ELF transaction and debt exchanges, providing more flexibility to invest in digital and emerging markets.
The Interpublic Group of Companies 2006 Annual Report summarizes the company's performance and strategic direction. In 2006, Interpublic achieved organic revenue growth, remediated financial controls, and positioned itself for future growth through strategic mergers and investments. Looking forward, Interpublic aims to continue improving financial strength and transition to revenue growth by investing in digital capabilities and emerging markets.
This year, we are presenting a special edition of the report on the impact of the MicroBank microcredits that we have been producing every year since 2010. In this edition, on the occasion of MicroBank’s tenth anniversary, we wanted to give an overview of the impact of the microcredits awarded by the entity since it began in 2007. In this way, MicroBank continues making a considerable contribution to generating knowledge on the microcredits and their effects among their beneficiaries, demonstrating their strong belief that this instrument helps create social value.
The document summarizes Spain's new financial sector reform which aims to accelerate the clean-up of banks' balance sheets and restore confidence in the Spanish financial system. Key elements of the reform include making banks' property assets more transparent through independent audits, isolating property assets from other performing assets, and introducing new capital requirements for property assets on banks' balance sheets. Next steps will need to define backstop mechanisms to provide resources and guarantees for potential losses from property asset impairments being higher than expected. The reform also creates asset management companies to take troubled real estate assets from banks and subsequently sell them over the coming years.
Speech by Emilio Botín 2014 Annual General Meeting BANCO SANTANDER
This document summarizes Emilio Botín's speech at Banco Santander's annual general meeting on March 28, 2014. Botín discussed Banco Santander's 2013 results and shareholder remuneration, their banking model and strategic position regarding the European banking union, corporate governance changes, and an optimistic outlook for 2014. Key points included a 90% increase in 2013 profits, maintaining a dividend of €0.60 per share, and that Santander's diversification positions it well for regulatory changes and economic opportunities.
- Banco Indusval & Partners (BI&P) reported financial results for 2Q11 and 1H11, marking a new phase with a new vision, partnerships, and strategy.
- Loan portfolio grew 6% in 2Q11 compared to 1Q11, led by corporate clients. Overdue loans over 60 days were 6.8% of the portfolio but were covered 143.5% by loan loss provisions.
- Net income was R$5.1 million in 2Q11 compared to a net loss of R$54.5 million in 1Q11, as the new strategy's impact is not yet fully reflected in results. BI&P remains well capitalized with a Basel ratio
New technologies and increasing competition have led to significant changes in the banking industry in India. Banks now offer many new services beyond traditional savings and loans, such as phone banking, online banking, ATMs, credit cards, and investment services. This allows customers more convenience in accessing their accounts and conducting financial transactions anywhere at any time. While technological advancements have improved customer experience, they have also increased risks around security and fraud that banks must address.
New technologies and increasing competition have led to significant changes in the banking industry in India. Banks now offer many new services beyond traditional savings and loans, such as phone banking, online banking, ATMs, credit cards, and investment services. This allows customers more convenience in accessing their accounts and conducting financial transactions anywhere at any time. While technological advancements have improved customer experience, they have also increased risks around security and fraud that banks must address.
SG Trusts You is a proposed company that would develop microcredit insurance products to address the lack of confidence faced by poor families seeking loans. By improving borrowers' ability to repay loans even in difficult financial times, microcredit insurance could help borrowers access better interest rates and loan conditions. The company would partner with microfinance institutions to distribute these insurance products, benefiting both SG Trusts You and its MFI partners. The microcredit insurance market in Brazil is still untapped, representing an opportunity to help more people rise out of poverty through improved access to affordable loans.
Annual General Meeting José Antonio Álvarez speechBANCO SANTANDER
Grupo Santander reported a 39% increase in profits in 2014 to €5.8 billion, with strong growth across most business units. Looking ahead, Santander expects a continued gradual global economic recovery but also tougher regulatory requirements. The bank will focus on improving profitability further through initiatives like gaining market share, boosting customer loyalty, and maintaining strict cost control while investing in technology and commercial activities.
The document discusses Banca IFIS's strong financial results in the first 9 months of 2012, with profits up 175.5% and deposits increasing 75.6%. It also outlines the launch of the new contomax crowd banking account on January 7th and details various social media initiatives undertaken by the bank, including the StreetNetwork art contest and expansion of its online presence through platforms like LinkedIn, Facebook, and a new WebTV channel.
The document is the editorial note for the maiden edition of FirstBank's semi-annual publication, the FirstBank Review. It introduces the publication as a means for FirstBank to stimulate discussion on contemporary economic issues among decision makers. The editorial note highlights that the first issue will focus on "Unlocking the Domestic Credit Market" given the paradoxical situation where banks have excess liquidity but are reluctant to lend. It aims to explore the reasons for this credit conundrum and provide recommendations to help restore credit flows.
Banco Santander acquired Banco Popular as part of a resolution scheme adopted by the Single Resolution Board. The acquisition strengthens Santander's position in Spain and Portugal and is expected to generate cost synergies and profitability improvements. Santander also completed a €7.072 billion capital increase to reinforce its capital structure following the acquisition. In the first half of 2017, Santander reported net income of €3.616 billion and continued progress on its strategic priorities.
Accounting for small and medium Enterprises in PortugalVitor Santos
This paper, "Accounting for small and medium enterprises in Portugal", was proposed by the teacher Mrs. Mariana FARCAŞ Course in Financial Accounting.
We will begin this work with the definition of Small and Medium Enterprise, according to the European Commission's recommendation, also listing the objectives that led to the need to change this setting.
BayernLB has repositioned itself since the financial crisis to focus solely on customer business. It aims to be among the top banks for mid-sized and large German corporates. Corporates currently face challenges from volatile markets and low interest rates. Banks are developing new liquidity management products to help corporates. In the next year, corporates will have to prepare for higher costs of bank facilities and credit lines as Basel III is implemented. Banks like BayernLB are taking steps to ensure long-term relationships through economic cycles to support corporate customers.
Viálogos: 'En el andén de salida de la crisis'Caja Navarra
Intervención del director general de Caja Navarra, Enrique Goñi, en la Jornada Viálogos, titulada 'En el andén de salida de la crisis', celebrada el 17 de noviembre de 2009
El documento resume los esfuerzos de una organización para comunicarse con múltiples medios de comunicación tradicionales y en línea, ampliando los formatos de noticias para aumentar el impacto y profundizando en la transparencia y participación. La organización busca facilitar el trabajo de los medios al proporcionar información escrita, videos, fotos, audio y presentaciones, y solicita comentarios sobre cómo podría mejorar sus servicios.
Presentación de Resultados 2008 y Objetivos 2009Caja Navarra
Este documento resume los resultados de 2008 y los objetivos de 2009 de Banca Cívica. En 2008 tuvieron resultados récord a pesar del entorno difícil, con buenos números financieros. Para 2009 prevén un año difícil con caída de facturación y aumento de morosidad, por lo que priorizarán apoyar a sus clientes. También se preparan para cambios en su modelo consolidando instituciones, desplegando unidades de negocio, y reforzando elementos culturales para ser más competitivos.
Creamos Comunidades... y crecemos con ella. IDC Banking 25/11/2008Caja Navarra
El documento describe los esfuerzos de Banca Cívica para crear una comunidad de clientes involucrados en proyectos sociales. Banca Cívica da a los clientes más derechos sobre cómo se destinan los beneficios, incluyendo elegir proyectos y participar como voluntarios. Han creado múltiples comunidades online y offline para conectar a clientes, empresas sociales y causas benéficas. Su modelo de banca cívica ha tenido éxito creando valor social y lealtad de marca.
El documento describe la evolución de CAN hacia un modelo de banca cívica basado en la innovación social. En 2004, CAN creó el programa "Tú eliges, tú decides" que permite a los clientes elegir a qué proyectos sociales se destinan los beneficios generados por sus ahorros. Esto llevó a la creación de derechos para los clientes y deberes para el banco. Posteriormente, CAN amplió este modelo creando más opciones para la participación ciudadana y estableciendo relaciones de confianza basadas en ideales como la responsabil
3. OUR CUSTOMERS
ARE EMPOWERED
TO FOSTER
CHANGE
The detailed 2009 Annual Report,
with individualized and consolidated
data on Caja Navarra, is available at:
www.can.es/en
The images you will see on the pages of
this Annual Report are mostly from social
projects which participate in Civic Banking,
within Caja Navarra’s You Choose, You Decide
platform, as well as from Meeting Points and
activities at our canchas (branches).
[4] [5]
4. This is the last time I will be writing a letter of introduction to
MIGUEL the Caja Navarra Annual Report. It is with great pride that I
SANZ am doing this after having lobbied for changes in the by-laws
which will lead to a total professionalization of Caja Navarra’s
CEO, CAJA NAVARRA governing bodies. As of June, the heads of publically- or
politically-appointed posts, who will become a part of the Board
of Founding Organizations, will cease to be responsible in Caja
Navarra’s governing bodies. With this new advisory board, we
will attempt to provide our points of view regarding relevant
decisions by CAN with non-binding reports.
Thus, the process which began in 2004 has come to a close with
the by-law reforms which led to allowing a wide range of our
social reality to be able to enter the governing bodies. In 2008,
the first stone was laid regarding the current reform with the
Code of Good Governance, which sketched the outlines of what
today has become the norm. From now on, the résumés of the
members on the CAN governing bodies will be made public
and their degree of professionalism will be the sole criteria upon
which their appointment is determined.
Our reform has blazed a new trail in Spain and it will surely
become a model for the rest of the sector when they try to
understand the uniqueness of savings banks in international
financial markets.
I am stepping down as CAN CEO with the satisfaction of seeing
a savings bank which leads the sector in management ratios,
with Civic Banking as a distinguishing strategy, spearheading
a pioneering merger process in the Spanish market, and is a
model of corporate governance.
[6] [7]
5. Due to the huge changes that the financial system is currently
ENRIQUE undergoing, as savings banks, we must transform ourselves in order
GOÑI to preserve the social spirit with which we were born. This calls for us
to deal with three fundamental aspects - to provide ourselves with the
GENERAL DIRECTOR, necessary capitalization instruments in order to face new regulations,
CAJA NAVARRA to strengthen our social charisma, and to leap into the international
market.
At CAN, we are now responding to those challenges. First of all, with
the creation of the Banca Civica Group, along with CajaCanarias
and Caja de Burgos. This new financial group has become the
first Institutional Protection System (SIP, in Spanish) within the
restructuring of the Spanish banking sector, and it has become the
prominent model in the merging of savings banks.
On the other hand, in the face of cutbacks and general downturn
of the market, we are offering an expansive business model, based
on striking up alliances with social organizations, which become
promoters of Civic Banking. Thus, these social organizations grow
and obtain financing for their projects which binds their members to
Civic Banking.
Third, with the potential provided to us by the Banca Civica Group,
we have opened our first office in the United States, the civic initiative
country par excellence, where it will be launching banking operations
in the first quarter of 2011. We have transferred over there the same
principles which the Group has in Spain and, based on the history
of civic mobilization in the United States, our model has enormous
growth potential. However, we are also looking to other markets,
such as Germany and Morocco, which could be the next steps in our
international expansion. Because there are no boundaries to how far
Civic Banking can reach.
[8] [9]
6. [1] A NEW STAGE
P. 12
P. 20
[2] HOW DO
WE DO IT?
P. 58
[3] A TRAILBLAZING
MODEL
[4] CAN
P. 72
OBJECTIVES
2010
8. [1] A NEW STAGE
A FINANCIAL Outdated banking models linked to real
STORM,
estate expansion no longer work. Banks
cut back on costs and reduce credit,
without offering new alternatives
to the market which is undergoing
change.
[14] [15]
9. [1] A NEW STAGE
A TSUNAMI WHICH The crisis has tightened the
HAS STRIC KEN reins on short-term income
(due to the lowering of
interest rates, business
margins are reduced).
There is greater pressure on
THE MAR KET,
liquidity.
The Spanish financial
sector has been facing the
financial crisis in a better
position than the rest of the
European countries but it
was late in doing so. And, save
for any exceptions, it has done so
focusing on a sole client, Spain.
And as a consequence, the number
of savings banks will be reduced to
only a few entities, which must be
strongly capitalized.
[16] [17]
10. [1] A NEW STAGE
BUT,ATCAN ,WE HAVE
NOT COME TO A
We have even taken one
step ahead of the market’s
demands. We have created
a group which improves
efficiency and productivity
of the savings banks
STOP
which make up our group (Caja de Burgos,
CajaCanarias and CAN);
with a business model which is unique in the
sector and which reinforces capitalization
through growth. At the same time, we are
properly managing expenses;
with international expansion as one of its key
strategies for the future. Today, we are already
in the United States and we are working on
opening for business in other countries, such
as Morocco and Germany.
AND WE CONTINUE TO INNOVATE!
[18] [19]
12. [2] HOW DO WE DO IT?
WITH A
DIFFERENT
KIND OF
BANK:
At CAN, we have created new way of
understanding banking, because we tell
our clients how much we earn with them and
they decide what social project to finance
with the 30% of the profits that their money
generates. A different way of understanding
the finance business from the perspective of
commitment and responsibility with society.
[22] [23]
13. [2] HOW DO WE DO IT?
WITH A DIFFERENT KIND OF BANK:
TRAILBLAZING,
We have created the Banca Civica
Group with CajaCanarias and Caja de
Burgos. The first banking Institutional
Protection System in the restructuring
of the sector.
Our project has all of the advantages
of a merger and eliminates all of the
inconveniences.
We multiply our talent (1+1+1 equals a
lot more than three), with professionals
who work to connect the Civic Banking
networks.
[24] [25]
14. [2] HOW DO WE DO IT?
WITH A DIFFERENT KIND OF BANK:
AND BETTER.
We are keeping our brand names in each home
region.
We are keeping our local roots and our
commitment to regional development. We boost
investment where it is most needed and we
are keeping control in the home regions.
We are ambitious in our goals and flexible in
how we achieve them.
[26] [27]
15. [2] ¿CÓMO LO HACEMOS? [2] HOW DO WE DO IT?
FOSTERING
NEW VALUES:
Civic Banking has developed a business
model based on transparency, participation
and transformation. In order to achieve
this, it makes values such as citizenship,
mobilization, proximity, sustainability,
responsibility, traceability and governance
its own.
It uses social networks to establish this
and it has proven that it works, with
economic and social results. So, we have
created Civic Banking networks in which
all of us - organizations, customers,
purveyors and citizens - win.
[28] [29]
16. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
CITIZENSHIP,
At CAN, we believe in the power of citizens
and we let them participate in our business
model. They receive information and they
know how much we earn with them.
They decide where the social aid goes
(€36,460,000 in 2009). With their choice,
they can help both people or causes which
are close by or global and distant ones.
90% of our customers chose a project in
2009. In sum, 579,724 people participated
in these initiatives.
[30] [31]
17. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
MOBILIZATION,
Customers get mobilized to support social
causes. They choose their level of commitment.
They can actively participate with the
social organizations which have available
volunteering opportunities; 31,251 slots in
2009. 12,069 people, who dedicated over
300,000 hours of work, participated in these
opportunities.
The customers promote their projects, seek
financing in the Civic Banking community,
foster the choice of their projects among
other customers, and bring people they know
to Civic Banking because if they become
customers they can economically support
their social cause.
5,174 organizations presented a total of 6,276
social projects.
[32] [33]
18. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
PARTICIPATION,
We put citizens and social organizations in
touch with each other (Meeting Points). We
organize informal meetings so customers
and non-customers get to know the social
projects we support, the main role players
and their volunteers.
Last year, we held four Civic Banking
Meeting Points in Barcelona, Bilbao,
Madrid and Pamplona. Over 75,000 people
and 375 organizations gathered at these
meetings in which they were able to
meet those who benefit from our social
investment initiative.
[34] [35]
19. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
SUSTAINABILITY,
We are the only financial organization which
totally applies principles of 100% automated
energy savings in our network of branches.
We have been able to reduce energy
consumption by 3.85%, which every year
translates into preventing the emission of
1,542 tons of CO2 from being dumped into the
atmosphere and we have offset 100% of our
emissions by planting trees.
This initiative has been chosen to be a
strategic project by the Institute for Energy
Diversification and Savings (IDAE, in
Spanish), an organization linked to the
Spanish Ministry of Industry, Tourism and
Commerce.
Additionally, we want to expand this system
to our business customers by offering advice
on how to put into practice these sorts of
measures.
[36] [37]
20. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
RESPONSIBILITY,
We want offer tools to businesses so they
can better compete within a context in
which transparency and differentiation
play an important role. We help
them to disseminate their economic,
environmental and social impact.
Over 1,000 non-customer SMEs, from all
over Spain, now have a Corporate Social
Responsibility Report, thanks to an
initiative by the Official Institute of Credit
(ICO, in Spanish), in collaboration with
Caja Navarra (CAN).
We have provided a Social Action Report
to 2,000 SME customers, who, thus,
convert their financial expenses into social
assets.
[38]
38 [39]
21. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
TRACEABILITY,
Civic Banking customers know about and
participate in the process which tracks their
money. Beyond transparency. We certify
the products and services. The customers
know how much each product they contract
provides to their civic account and they can
decide which investments are to be financed
with their money.
650,000 customers have received the Civic
Account in which they know how much is
earmarked to the social projects they choose.
All of our products are guaranteed with a
Civic Seal, which provides information about
the amount earmarked to our social initiative
from the very moment it was contracted.
[40] [41]
22. [2] HOW DO WE DO IT?
FOSTERING NEW VALUES:
GOVERNANCE.
The citizen customers evaluate and determine
30% of the bonuses for its executives.
Caja Navarra is a pioneer in the
professionalization of the governing
bodies of savings banks. The new CAN by-
laws, which will enter into effect this year,
eliminate the presence of public positions in
the governing bodies, and their election is
exclusively based on professional criteria.
At the same time, we have created a Board
of Founding Organizations, a non-binding
advisory body.
[42] [43]
23. [2] HOW DO WE DO IT?
WITH A
NETWORK OF
NETWORKS:
Our business model provides a significant
improvement of efficiency through growth.
How? With a differentiating strategy -
partnerships with social organizations in order
to jointly get customers; new customers for CAN
and more resources for the social projects which the
organizations manage. In 2009 alone, there were
48,000 new customers (a 7.4% increase), thanks to
this strategy.
Banca Civica Networks help social organizations
to generate new resources and grow. The integration
of 125 professionals into Banca Civica Networks has
meant the reorganization of 37 canchas in expansion
areas - in the regions of Aragón, Cataluña, Madrid,
La Rioja and the Basque Country.
[44] [45]
24. [2] HOW DO WE DO IT?
WITH A NETWORK OF NETWORKS:
PROXIMITY.
Banca Civica is the most mentioned bank in
the blogosphere. We foster interaction with
customers and non-customers.
At www.can.es, we have incorporated social and
financial content, which people have demanded
through the major social networks.
We have the largest social blogosphere, over
1,000 blogs from social organizations which
promote their projects. The customers receive
financial advice and are in contact with
their manager through Facebook, Twitter,
Messenger and Skype; and also through our
Cancha24 office, which offers online financial
services 24 hours a day.
We do Banking 2.0, promoting the creation
of networks and communities. And for that,
we have a multimedia platform where social
mobilizations generated by Civic Banking can
be viewed: TVCan.
[46] [47]
25. [2] HOW DO WE DO IT?
WITH GOOD
RESULTS:
Civic Banking works and it is profitable.
Our accounts prove it. Our ranking among
financial organizations has risen. Our
financial soundness and that of our partners
in the Banca Civica Group allow us to go
forth with our business project without
having to dip into the Bank Restructuring
Fund (FROB, in Spanish), which has been
made available to restructure the financial
system.
[48] [49]
26. [2] HOW DO WE DO IT?
WITH GOOD RESULTS:
RATIOS
We have maintained our rating and have
closed this year guaranteeing our solvency
above the sector average:
9,03% 14,54% BIS RATIO
CORE CAPITAL
3,27% +0,28% CREDIT INVESTMENT
DELINQUENCY RATE
+5,63% +5,16%
BUSINESS INVESTMENT
CUSTOMER DEPOSITS
115MM€ RATING A
EAT RESULT
ACCORDING TO FITCH
[50] [51]
27. [2] HOW DO WE DO IT?
WITH GOOD RESULTS:
RANKING
Among savings banks, we are ranked eighth
based on profits, ranked third based on return
on assets and ranked seventh based on return
on equity.
EAT: 20th/10th
ROA: 32nd/5th
ROE: 41st/5th
IN BLACK, 2001 / IN RED, 2009
[52] [53]
28. [2] HOW DO WE DO IT?
WITH GOOD RESULTS:
CONSOLIDATED
RESULTS ACCOUNT
[IN EUROS]
2009
INTEREST MARGIN 254,394,000
Income from Services and Portfolio Results 192,790,000
GROSS MARGIN 447,184,000
Management Expenses 222,849,000
Repayment 35,906,000
Allowances and Provisions 107,833,000
TRADING INCOME 80,596,000
Other Results 43,286,000
PRE-TAX RESULTS 123,882,000
Taxes on Earnings 8,485,000
AFTER TAX RESULTS 115,397,000
[54] [55]
29. [2] HOW DO WE DO IT?
WITH GOOD RESULTS:
RENOWNED,
AWARDS
> Merco Marcas: a regional financial brand regarding
best corporate reputation in Spain, for the third time
in a row.
> Financial Innovations Awards 2009 (IFS London School
of Finances) in the category of Best CSR Strategy.
CASE STUDY IN:
> USA: Georgetown, George Washington, Stern,
Wharton, Columbia, Harvard.
> Mexico: IPADE.
> Spain: IESE, IE, EAE, ESADE and San Telmo.
> Papers: Lauder Institute, University of Michigan,
Universidad de Mondragón, Universidad Jaume I
and Universidad Autónoma de Madrid.
OTHER
> Best Company to Work For, Ranked 34th, according to
Merco Personas (2009).
> Company with the Best Reputation, Ranked 41st,
Merco (2010).
[56] [57]
31. [3] A TRAILBLAZING MODEL
A BANK IS BORN
FROM THREE
SAVINGS BANKS
Caja Navarra, CajaCanarias and Caja de
Burgos began to forge their grand project in
2009, getting a step ahead of the current
banking merger process.
The launching of the Consolidated Economic
Group (GEC, in Spanish) allows us to be
larger, gain agility, talent, competiveness
and leadership.
The Banca Civica Group is the pioneering
organization in the merger process of
the Spanish financial sector in using the
banking Institutional Protection System
through the creation of a Consolidated
Economic Group. It is the only one, for the
time being, which has created one without
recurring to public aid set forth in the Bank
Restructuring Fund.
[60] [61]
32. [3] A TRAILBLAZING MODEL
TIMELINE
Caja Navarra, CajaCanarias and Caja de Burgos
began to forge their grand project in 2009,
getting a step ahead of the current banking
merger process
SUPPORT
BY THE PRESENTATION
FIRST TECHNICAL GOVERNING OF THE GROUP BRAND
CONTACTS WORK BODIES
OCTOBER 2009 NOVEMBER JANUARY 2010 MARCH 9 MARCH 27 APRIL 7 MAY 13 JUNE 9 JULY 1
PRESENTATION PRESENTATION OF APPROVAL BY SIGNING OF DRAFTING OF LAUNCHING
OF THE PROJECT THE PROPOSAL THE THREE THE CONTRACT THE OF OPERATIONS
TO SPAIN’S TO THE BANK OF EXECUTIVE REGARDING THE ESTABLISHMENT
ASSOCIATION SPAIN BOARDS OF THE CREATION OF THE OF THE GROUP
OF FINANCE SAVINGS BANKS GROUP
JOURNALISTS
(APIE, in
Spanish)
[62] [63]
33. [3] A TRAILBLAZING MODEL
FINANCIAL
INTEGRATION
We set into motion unified policies,
diversification and shared risk assumption.
We defined tracking, discipline and control
mechanisms which guarantee the Group’s
financial stability.
We base ourselves on the mutualization of the
individual results. All of the organizations
participate in the Group’s benefits; 35%
in the first year and 50% in the years
afterwards. Competitiveness is promoted
amongst the organizations, both individually
and as a group. It is a ‘win-win’ situation for
everyone.
Moreover, the three savings banks 100%
guarantee each other in regard to solvency
and liquidity.
[64] [65]
34. [3] A TRAILBLAZING MODEL
BUSINESS
INTEGRATION
The group has one sole image before the
rating agencies, the Bank of Spain, large
clients and the international market.
Businesses are becoming integrated, using
economies of scale and of scope in the
generation of results through banking or
financial business.
We are consolidating those units which
improve with merging - customer
banking, business banking, international,
disintermediation, insurance and
corporation.
We are applying the advantages of the
economies of scale to our future unified
areas.
[66] [67]
35. [3] A TRAILBLAZING MODEL
OPERATIONAL
INTEGRATION
The new model allows us to reduce
operational costs, eliminate duplicating
services and strengthen competitive and
managerial capabilities.
The group improves the employability of
its workers (career development in the
international field). There are over 4,500
employees in 777 offices, throughout 22
provinces in Spain.
We are promoting a universal bank around
Civic Banking as the axis of the merger.
[68] [69]
36. [3] A TRAILBLAZING MODEL
STRATEGIC
INTEGRATION
Our proposal is to bring the Civic Banking
model to 1.8 million customers in Spain,
with €3.9 million of its own resources for
international expansion.
Banca Civica Institutions will begin to
operate in the three savings banks on
September 1, 2010.
Teams of Banca Civica Networks will
begin to operate in the three savings banks
as of July 1, 2010.
[70] [71]
38. [4] CAN OBJECTIVES 2010
WE ARE GROWING
Banca Civica consolidates a national and
international growth project.
For the Group, 2010 will be the year of
expansion, on a national level, from the new
headquarters in Madrid, and on an international
level, beginning with the United States,
where we have already tried out our business
model.
In 2010, Banca Civica Networks will grow -
200 professionals which bring organizations
and customers together. We measure the ‘civic
footprint’ of 100% of the social projects which
the organizations present.
We want to improve our efficiency through
the growth of these networks.
[74] [75]
39. [4] CAN OBJECTIVES 2010
WE LOVE
CIVIC BANKING
We have already planted the Civic Banking
flag in the land of pioneers - in the United
States. From the strategic heart of Washington,
DC, we are spreading our model to important
social organizations.
Our reception has been a positive one.
Prestigious associations such as World
Vision, Mary’s Center and United for DC have
entered into partnership with us in order
to grow; also, Ashoka (a global leader in
the social entrepreneur sector), Episcopal
Relief & Development, US Holocaust Museum,
The Global Fund for Children, The Resource
Foundation, Child Aid, American Initiatives
Foundation and Proof/Media for Social Justice.
Social mobilization is one of the
characteristics of American identity - 1.5
million non-profit organizations and 60
million volunteers. It is the best lab for Civic
Banking to ‘pollinate’ the international market.
[76] [77]
40. [4] CAN OBJECTIVES 2010
... AND BEYOND
The international market is our big
challenge this year. This is why, after the
U.S. experience, we are studying expanding
to other destinations which hold enormous
possibilities for our business model -
Germany, where many economic policies have
an important sustainable background; and
Morocco, where we are with businesses which
are clients of the Group, supporting and
promoting investment.
This is the following step in order to continue
the expansion of Banca Civica and rediscover
distant markets. “We want to become the best
financial civic organization in Europe.”
[78] [79]
41. [4] CAN OBJECTIVES 2010
ECONOMIC
GOALS
Our economic goals for 2010 are based
on attaining a greater capitalization, in
increasing our assets:
Solvency: to improve on 15 basic points.
Delinquency Rate: not to surpass 4.5% or 2/3
of the sector average.
ROE: to achieve a return which doubles that
of 10-year bonds.
Networks: to increase donations by
business areas. 17.5% in retail banking;
15% in international banking; 10% in big
businesses; 10% from individuals; and
40% in non-financial services. To attain a
95% compliance of the business plan in the
financial disintermediation area.
Assets: 2% more than in 2009.
Products and Services: 7.5% more in
contracting.
Liquidity: 1,25x1 (within the balance sheet);
1,5x1 (within and out of the balance sheet).
[80] [81]
42. [4] CAN OBJECTIVES 2010
MANAGEMENT
GOALS
In order to comply with the economic goals,
we have also established the management
goals needed to attain them:
Customer Rating: 7 regarding individuals and
SMEs; 8.5 concerning private banking.
Participation: 90% of the customers choose a
social project.
Social Impact: 5,500 projects from which to
choose.
Network-based Growth: 5,000 new customers
(through Banking 2.0); 80 new customers
each quarter (each manager).
Avant Garde Territories: Rating of 3.85 out of
5 by the employees in the survey on the work
environment; 4% of investment in training;
2,300 CSR reports (non-customers); 50 new
projects from U.S. social organizations.
[82] [83]
43. PUBLISHER: CAJA NAVARRA.
COMMUNICATION DEPARTMENT
DESIGN: BERMER&CO.
PRINTING: GRÁFICAS CASTUERA
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