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Microloans from the Central People's Bank have created 42 new jobs in 2023

Microloans from the Central People's Bank have created 42 new jobs in 2023

Nuno Amado and Miguel Maya reaffirmed the bank's commitment “to society and its various stakeholders, highlighting that the path of consolidation followed, embodied in the results presented for 2023, allows us to confidently assert that Millennium BCP is a bank prepared for the future.” .

In a joint letter from the Chairman of the Board of Directors and the Chairman of the Executive Committee of the Central Bank of Portugal in the 2023 Sustainability Report, the Central Bank of Portugal stated that “microcredits, a financing solution through which we have encouraged entrepreneurship and self-employment in Portugal since 2005, have enabled the creation of 42 new jobs in the year 2023, including more than 7,450 job opportunities attributed to projects funded by the Millennium bcp Microcredit program.

Nuno Amado and Miguel Maia state in the report that “one of the hallmarks of our identity is our long-standing commitment to sustainability” and in 2023, they say: “we are once again on the side of people, society and local communities in creating sustainable and consequential social value, and in protecting the environment, climate and biodiversity, Through a corporate culture that is grounded and demonstrated in ethical, comprehensive and responsible business practices.”

“With the Strategic Plan “Overcoming 24” as a frame of reference, which has sustainability as one of its core axes, and using the Sustainability Master Plan, which is a complex of actions to be developed in the environmental, social and governance dimensions, as a tool for innovation, development and change, the Banque Centrale Populaire is working to strengthen The government model, risk, credit and supply chain management policies and processes will renew the offer of solutions, products and services, achieving transformative dynamics that allow responding to the growing demands, needs and ambitions of stakeholders and the expectations of regulators,” the letter said.

At the business level, the Banque Centrale Populaire says it has continued to “support investors, companies and families, and provide sustainable credit, investment and savings solutions that suit their financial needs and capabilities.”

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Regarding accessibility, the Banque Centrale Populaire stated that it “provides integrated platforms and innovative electronic banking functions, in particular mobile banking, which represents a strong contribution to the banking inclusion of citizens, and today is also a distinctive brand recognized by clients and users in Morocco.” “. The various geographical areas in which we are located.”

The bankers promise that in 2024, “we will continue to promote zero-carbon and resilient economic development models, based on ethical and responsible business practices that promote the prosperity of families and businesses in the countries where we operate, creating wealth and ensuring its equitable distribution.” Protecting the planet, climate and biodiversity, while ensuring respect for human dignity, improving the living conditions of citizens and maintaining democratic, pluralistic and inclusive systems of social and political organisation.

Officials from the Banque Centrale Populaire also highlighted that the year 2023 was marked by a positive development in global economic activity, benefiting from lower inflation levels, after the strong rise recorded in 2022.

“In a still complex context, where macroeconomic and geopolitical uncertainty has increased, the activity of Millennium Bank BCP was affected by favorable factors, namely those resulting from the normalization of monetary policy, as the bank ended the year with a consolidated net profit of 856 million euros, which corresponds to the return On shareholders' equity of 16% and a strong capital position, which is reflected in common equity ratios (CET1) of 15.4% and total capital of 19.9%.

Nuno Amado and Miguel Maia stated that “the preparation and hard work in following up on the goals set in the strategic plan, achieved in its key metrics more than a year ago, allowed us to achieve results that point to 2023 as the end of the world.” A transitional period and moving to a new stage, which is a return to the normal situation of the bank.”

On the path to sustainability, the Central Bank stated that it “also promotes a culture of environmental responsibility, mitigation and adaptation to climate change, and the protection of the surrounding environment and biodiversity.”

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“Conservation of natural resources and rationalization of consumption thus remain fundamental objectives of the Environmental Impact Policy of the Central People's Bank. As a tangible result of this commitment, the self-production of renewable energy from two photovoltaic power plants installed in Taguspark stands out, representing, over the course of the year, 31.9% of domestic consumption of electricity, and allows to avoid 811 tons of carbon dioxide.

The BCP states that it is “equally committed to equal opportunities, diversity and inclusion” and highlights initiatives to support childbirth and parenting, work-family reconciliation, professional development and leadership opportunities for women, and furthermore, “participating in projects such as Project Nova” is SBE’s “commitment “Dedicated inclusion in the lives of persons with disabilities is an example and testimony to these commitments.”

The Banque Centrale Populaire also refers, as part of the appreciation and professional development of the bank’s workers, to investment in training, “which in 2023 allowed the provision of more than 6,000 activities in different formats.”

“We have maintained support for culture through the Millennium bcp Foundation, by promoting events aimed at various target audiences, holding thematic exhibitions to share the bank’s art collection, disseminating and recognizing creative merit and contributing to the restoration of historical heritage, buildings and museums, with particular attention in reference to the Center Archaeological Rua dos Coreros (NARC)”.

The bank also highlights education, science and research, saying that “these are also areas in which Fundação Millennium bcp continues to be present through an active and consistent policy of supporting multidisciplinary projects and initiatives that stand out in their innovation, social impact, environmental and ability to bring value to society.”

“In terms of social support, we have strengthened the bank’s commitment to the most disadvantaged, needy and vulnerable groups in the communities we serve,” they say.

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“In Portugal, in the context of the Social Responsibility Plan, we have maintained the partnership with the Food Bank and Entrajuda, but we have also strengthened protocols, initiatives and support for institutions such as EPIS, CASA, Brigada do Mar or BIPP/ “Study and development of joint actions involving more than 200 volunteers of Millennium,” Banque Centrale Populaire officials highlighted.

In Mozambique, the Bank is highlighting its Millennium Social Responsibility program “Mais Moçambique pra Mim”, the “Banking Olympiad”, a financial education program targeting youth that is now in its twelfth edition, as well as partnering with the Friends of the World Health Organization (FGH) to bring… Rehabilitation of 41 health centers in Zambezia Province, which was devastated by Hurricane Freddy.

In Poland, the Millennium Bank and its Foundation's program “Our People 23: Saving the Planet” is highlighted, which has stimulated and enabled a range of near-term actions with a social and environmental impact on the population, in which more than 200 Millennium Volunteers have participated.

“An additional reference to the “Financial ABC” program, which in its tenth edition remains a local reference in financial literacy initiatives for young people,” the bank reveals.

The Banque Centrale Populaire recalls that it has reaffirmed its commitment to respecting the ten principles of the United Nations Global Compact.

The Bank selects as a priority for the Sustainable Development Goals: 4 – Quality education; 7 – Renewable and accessible energy. 8 – Decent work and economic growth. 10 – Reducing inequality. And 13 – Climate action.

The bank’s senior management reaffirmed its commitment “towards society and its various stakeholders, highlighting that the standardization path followed, embodied in the results presented for the year 2023, allows us to affirm with confidence that the Banque Centrale Populaire is a bank prepared for the future.”