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Last update : June 2010
The Banco Popular y de Desarrollo Comunal is a Costa Rican bank, of non governmental public law, property of all the workers of the country
Background
The Banco Popular y de Desarrollo Comunal was founded on July 15 of 1969, with the purpose of becoming an entity assigned to offer economic protection and welfare to the workers of the country, through the promotion of savings, satisfying their credit needs and financing projects of the community development organizations.
The creation of the Banco Popular y de Desarrollo Comunal came to signify an important legacy in the generation of social ideas in our country, as a result of the negotiations between the various political forces.
The General Meeting of Workers is established in 1986 with the purpose of democratizing the Bank structures and guaranteeing a larger participation of the social sectors in the orientation of its policies. This General Meeting is made up of 290 delegates and is the representative body for the cooperative segment, self-managing cooperatives, confederated and non confederated unions segment, National Teachers´ Associations, Solidarism Movement, the professional, artisans, communal and independent workers sectors.
The Banco Popular y de Desarrollo Comunal owns 100% of the shares of
the following corporations: Popular Valores Puesto de Bolsa (Stock
Exchange Seat), Popular Sociedad Fondos de Inversión (Investment Funds),
Popular Pensiones Operadora de Planes de Pensiones Complementarias
(Complementary Pension Plans), and Popular Sociedad Agencia de Seguros
(Insurance Agency).
All these firms and the Bank, make up the Financial Conglomerate Banco
Popular y de Desarrollo Comunal. This Conglomerate intends to offer
products and services, through an active participation in the financial
market that leads to the generation of benefits, for the assignment of
resources that guarantee the creation of programs with a social character,
oriented towards improving the life conditions of the workers, and
promoting the development of Costa Rican society in general.
Mission
We are a Financial Conglomerate the purpose of which is the social wellbeing of the country´s inhabitants.”
This mission is conceptualized considering a field of general action that integrates the social, economic and environmental welfare of the workers.
The term, country´s inhabitants, considers the different segments of the population, which include the workers but also those who are not workers.
Vision
"To be the number one Financial Conglomerate in supporting the economic and social development of the country´s inhabitants."
Values
| Integrity | We will act with rectitude and respect before our colleagues and customers, being coherent with the dispositions that govern us |
| Excellence | We will work towards the continuous improvement of the processes, services and products, seeking to achieve the highest goal, keeping in mind the risks and controls related with them, as well as the needs of the customers |
| Service | We will work to satisfy the needs and expectations of our colleagues and customers, as a result of the commitment to excellence. |
| Social Responsibility | We will actively promote the social and economic development of the workers, the communities, the social organizations and the country. |
| Leadership | We will be capable of assuming the responsibility of leading others with the purpose of achieving common goals. |
| Responsability | We will thoroughly fulfill the obligations and commitments that we must assume in the performance of our duties. |
| Loyalty | We will assume the commitment of building and defending the Conglomerate as our own and keeping the proper fidelity to the norms and principles contemplated in this Code. |
| Solidarity | We will keep a permanent attitude and disposition of collaboration at work and with our colleagues, for the benefit of the Conglomerate and its customers. |
| Prudence | We will act with moderation and reasonableness in order to operate, pondering the actions carried out, using the adequate information, analyzing the circumstances and making the necessary decisions in benefit of the Conglomerate and its clients |
Structure
The Banco Popular y de Desarrollo Comunal is oriented towards a high performance culture, the objective goals of which are aligned with its mission and vision. The reason of its existence for the Bank will always be the customers, and that is why the daily efforts are focused on offering them the best service.
At the close of March 2010, Banco Popular registers one hundred branch offices distributed over the length and breadth of Costa Rica and is integrated by 3,036 collaborators.
The structure of the Corporative Government is made up of one General Meeting of Workers represented by 290 delegates, whose function is to issue the orientations of the general policy of the Bank and its companies, and for its operation it appoints internally a National Directory integrated by four representatives.
The highest position, in its condition as the managing authority, is the National Board of Directors, made up of seven members, three of them appointed by the Executive Power of the Republic of Costa Rica and four appointed by the General Meeting of Workers, representatives of the different social sectors.
Administratively it is led by a Corporate General Manager who is, at the same time, the General Manager of the Banco Popular y de Desarrollo Comunal. This officer has on-hand a series of support and control agencies in the different committees of the Board of Directors, the Internal Audit Office and the Integral Risk Administration Process.
Activities
The Banco Popular y de Desarrollo Comunal is structured in such a way that it can take care of the needs of the market segments to which it is oriented. It allows the Bank to satisfy its customers in aspects that go from accessibility up to competitivity through its three Banks: commercial bank, that involves the people´s bank; the corporate bank; and the business development bank, specialized in micro, small and medium business.
The strategic commitment defined by the Bank for the
Development and Social activity is mainly to offer access to the financial
services to the populations excluded by the conventional banks and guarantee
the financial sustainability in each one of the figures that make it up.
This objective must be achieved through the implementation of strategies
oriented to offering financial and non financial attention to those niches.
Additionally, each year the Banco Popular y de Desarrollo Comunal feeds its
“special funds” capital from resources originating from 20% of the annual
benefits. These resources are assigned to offer financial solutions to the
informal productive sector, through a Risk Capital Fund (Focari-Spanish
acronym); to those who lack an initial contribution to acquire a house
through the creation of the Special Housing Fund (FEVI-Spanish acronym); as
well as taking care of the personal expenses and guarantee needs for the
micro, small and medium sized businesses (mipymes-Spanish acronym). In the
year 2007, the Integral Program to Generate Development was established.
This project seeks to unite the efforts of the political and social powers,
to create new opportunities that allow the more vulnerable sectors such as
women, indigenous people, handicapped, social housing and “mipymes” and
entrepreneurs to join the social economy in a sustainable way.
Key figures
in USD millions
|
Description |
2009 |
2008 |
|
Total Assets |
2.320.5 |
2.271.8 |
|
Total Net Credit Portfolio |
1.610.0 |
1.535.7 |
|
Total Liabilities |
1.879.2 |
1.835.9 |
|
Total Net Worth |
441.3 |
435.9 |
|
Total Financial Income |
371.7 |
333.2 |
|
Results for the Period |
30.8 |
46.3 |
