betSOCIAL RESPONSIBILITY t er2004 betand t er
LIFE INSPIRES US Social Responsibility 2004 The refoundation project reflected in the introduction of the new Millennium bcp brand, focusing as it does on the life of its customers, mobilising the energy of all its employees and re-centring corporate activity on the service and on sharing benefits with the customer, consolidates social responsibility as an imperative of the business, as an investment in our future. Jorge Jardim Gonçalves Chairman of the Board of Directors Social Responsibility [Better and Better]
The reason for this report New paths to excellence
To increasingly do better has been an integral part of the culture and through socially responsible and consistent conduct towards of excellence of Millennium bcp, which, based on a coherent, all the stakeholders. strategic agenda, on firm leadership, on strict management and on ongoing innovation, has contributed to consolidating its The evaluation of our business activity, communicating it, reporting position as a benchmark institution: for the quality, innovation and accounts, these are not merely the result of legal requirements. technological leadership of its service of excellence both at home They must be a constant exercise, with moments for assessment and in those foreign markets in which it has set up. and consideration.This report is one of such forms, the mirror of what has so far essentially been the result of our thoughts and Fully assuming its corporate nature, Millennium bcp finds the endogenous action. From now on, we shall so proceed as to find reason for its involvement in the social field in its awareness of the the skill that will allow us to combine our past and present and, fact that its commitment to activities of social interest strengthens above all, our vision, with exogenous elements that, together, the Bank’s acceptance and its commitment to the community, and will lead us to sustainable growth and development. also because, in addition to strict fulfilment of its legal obligations, it imposes on itself a socially responsible conduct. Millennium bcp’s responsibilities are broader than those required by law, since its actions have a long-term effect in various areas; The refoundation project reflected in the introduction such as the investments made, products designed, support of the new Millennium bcp brand, focused on the life of its provided and implemented behaviours. Social responsibility has customers, mobilising the energy of its entire staff and been a part of the culture and identity of Millennium bcp since re-centring the corporate attitude on customer service and its incorporation.The Bank has always enhanced its social role on sharing the benefits with the customers, has consolidated as an integral part of its mission, both at internal level and in the social responsibility as an imperative of the business, as an exercise of its social responsibility within the Community of which investment in our future. it forms part, undertaking activities of a social and community nature, thus contributing to the improvement of living conditions Life inspires us. The saying recognises this, as in fact the life of our and to cultural inclusion/integration. customers is the source of our knowledge; since our commitment to our customers is to be their accomplice in the time and at the Millennium bcp has always lent great importance to investment place that their needs arise; and since, in the final instance, our in intangible assets – value of human capital and of knowledge, offer is designed in the light of the dreams that every person customer-base loyalty, value of technologies, software and wants to bring about and of their wish to be accompanied databases, security of our Information Systems, quality and by the Bank in the key moments of their lives. innovation, know-how, and brand reputation, among others – recognizing its ability to generate and keep up the Bank’s To bring about the refoundation of the Bank is also to competitive advantage, underpinning the activity and sustainability institutionalise the presence of Ethics in corporate governance, of the company and the continuity of its business in the long-term. in labour relations, in environmental policies and in the policy of granting credit. Since the creation of value cannot be achieved New forms of social and market pressures driven by the 3 solely through short-term maximisation of profit, but rather phenomenon of globalisation have progressively induced change through a constant vision directed towards the customer to the values and to the horizon of companies’ activities. Social Responsibility [Better and Better]
The notion has been consolidated that companies can and should given the focus on a long term perspective of value creation play a more ample role in society, transcending the basic vocation demanding higher performance and a risk profile, profitability and of wealth creation. solid financial condition comparatively greater than those of its peers, in addition to the advantages that it provides for the Today’s company must be concerned with minimising the remaining stakeholders. Given its relevance within the Portuguese environmental and social impacts of its actions. In keeping with this market, Millennium bcp has recognised the importance of the part dynamic, companies view their role within the Community not just that it can play as a sustainability actor, influencing the as a social and moral obligation, with strict connotations of incorporation of sustainability into Portuguese business activity, sponsorship or philanthropy, but also for reasons of a strategic while fostering and enhancing knowledge of thereof among other order and of long-term sustainability. companies and their stakeholders.
For human development to be considered ‘sustainable’ and the It is important to highlight Millennium bcp’s participation as a company ‘socially responsible’ one cannot continue to forget founder member of RSE Portugal (Portuguese Association for responsibilities towards the family. One must harmonise Corporate Social Responsibility) and of the Business Council for professional and family life, for it would be meaningless for them Social Development (BCSD Portugal), and also to emphasise the to be mutually exclusive or to come into conflict. Family stability, Bank’s recent adherence as ‘Organisational Stakeholder’ to the the education of new generations, and the very possibility Global Reporting Initiative organisation, whose mission is of authentic personal fulfilment has been put at risk – all this to develop and globally communicate directives regarding the at huge social (and also economic) cost. Society and the company preparation of sustainability reports. Using these directives as must become ‘familiarly responsible’.Their future depends the benchmark, Millennium bcp is committed to the preparation on the specific solutions we are able to find to correct the path of a sustainability strategy during 2005 and will be pleased to taken.We shall endeavour to make our own contribution. present its first Sustainability Report.
In global terms we are witnessing a progressive awareness This is an initial effort directed at compiling numerous dispersed of sustainability issues as a source of new opportunities and as an elements.The available information has been gathered and imperative of strategic management, allowing organisations to systematised, the work undertaken has been analysed, dialogue has become, simultaneously, economically viable, socially responsible started with the various internal areas and also with external and environmentally safe. International appeals to this effect have entities already committed to the issue of social responsibility. many origins: the United Nations, the World Bank and the European Commission have worked on this matter and are We can be proud of the much that has already been done, though lending growing emphasis to intangible variables accounting we are also aware of the limitations that we want to overcome. for a large part of the value of companies. For these reasons, this report is an historic landmark for Millennium bcp, and we must now express our gratitude to all The leading international banks have been developing sustainability those who have in some way contributed to it. strategies that involve internal disclosure of the concept and its application to the business, and creation of procedures and products promoting sustainability worldwide.This approach allows an enhancement of the financial entity, not only for the incorporation into management of new risk variables, but also for the identification of new opportunities yet to be exploited.
Millennium bcp views the financial sector as one of the major 4 players in sustainability and recognizes the gains that an approach within this scope could bring for its investors and shareholders, [ Contents ]
pages 03/04 [ The reason for this report ]
pages 06/21 [ The Company and its responsibility ] – What Corporate Social Responsibility is for us – The company
pages 22/43 [ The Surroundings ] – The Customer – In the financial sector – Suppliers – The environment
pages 44/81 [ The company, a society ] – Fundamental characteristics – Corporate ethics – Corporate governance – Investor relations – Organisations in which it is involved – Employees
pages 82/107 [ Three case studies ] – The Millennium bcp Meetings – NovoBanco (Mozambique) – The Foundation
pages 108/109 [ Still supporting the Community ] The company and its responsibility What Corporate Social Responsibility is for us
The company Social Responsibility [The Company and its responsibility]
What Corporate Social Responsibility is for us
Although the subject of ‘Corporate Social Responsibility’ is not exactly new, it is very timely. Business community awareness of its responsibilities should embody the entire activity of the company and tie in with its operations and strategic objectives.
The company’s prosperity must sight. And its imperative will always be to be sustainable and there must find new forms of communicating with be an incessant search for conditions society. to ensure its stability and continuity.The entire community will benefit, as the Since its incorporation, Millennium bcp company is not just a legal or economic has enhanced the social aspect as a entity in the strict sense. It involves fundamental component of its mission, resources but, above all, people of flesh both through the promotion of vocational and blood: shareholders and employees, qualification and the personal customers – on which it is profoundly development of its employees, and also dependent – and suppliers, competitors, through the exercise of social public entities – with which it is also in responsibility within the community of constant touch. It is a social reality, one which it forms part. Here lies the reason that affects society considerably more for its existence and the necessary intensely than might be thought at first legitimacy for the exercise of its activity.
8 Social Responsibility [The Company and its responsibility]
Corporate Social Responsibility, Development, Sustainability (“Responsabilidade Social da Empresa”,“Desenvolvimento”,“Sustentabilidade”)
Responsibility were conquered, even though apparently prefix suggests negation, separation, The adjective responsible comes from the independent (especially in local policy and contrary action, division; it could stem obsolete French responsible, in turn administration) were dependent on Rome from the latin prefix dis-, which is derived from responsu, the past participle in the matter of foreign policy and they precisely a separation, a departure, in of the latin verb respondeo, consisting of were obliged to assist the Romans with opposite directions (curro/discurro ‘to run the prefix re-, meaning backwards contingents of their own, whenever in various directions’; versus/diversus ‘to movement, regress, contrary, or a sense of necessary. turn to various sides’, etc.) and, repetition, and the verb spondeo.This The adjective socialis originally meant ‘that consequently, contrary and negation means ‘to commit oneself’,‘to solemnly which is related with or belongs to the (similis/dissimilis; facilis/difficilis; promise’.The meanings ‘to ensure’ and ‘to socii’, then, during the Imperial era, took on concors/discors; etc.). render safe’ also arise there from. its present meaning of ‘that which is The verb envelop is also formed from a Respondeo also means ‘to commit oneself related with or proper to societas’, that is, compound: the prefix in- and the verb in exchange’ or ‘to answer for a companionship, community, society, words volvere ‘to cause to roll’ (in the causative commitment solemnly entered into’. It is a implying a union working for a common sense); to ‘roll’;‘to enrol in the spirit’;‘to verb that originally belonged to religious good. consider’;‘to reflect’.With the addition of language, and it was said of the responses the prefix in-, providing the idea of inward of the oracles that were obtained in Company ("Empresa") movement (‘in’,‘inside’,‘on’, etc.):‘rolling exchange for a solemn promise. It Taken from the Italian impresa, which on’,‘covering’,‘envolving’,‘rolling up’, commonly came to mean ‘to respond’. derives from the past participle of a ‘enwrapping’,‘surrounding’, etc. The participle responsus, -a, -um, from conjugated compound of the verb Consequently, to develop means to which adjective responsible indirectly praehendo (in its syncopated form, ‘unroll’,‘to unwrap’,‘to open’,‘to increase’. stems, means:‘that which answers’, the prendo): *imprehendo, the participle of ‘guarantee’; addition of the suffix -ible, which would be *imprehensu-. Sustainability which expresses of the possibility of The verb praehendo means ‘to grasp’,‘to From the frequentative verb sustentare, carrying out action, brings us to the take’,‘to catch’,‘to reach’,‘to embrace’, in which derives from the verb sustinere, current meaning of the adjective:‘that can the twofold physical and intellectual sense. which, in turn, is a compound of teneo,by guarantee’,‘the ‘guarantor’. By influence of the prefix in-,‘on’,‘over’, addition of the prefix subs-1 .The latter, The abstract noun responsibility is formed which expresses a movement towards an with the drop of the bilabial2, leads to the from this adjective by the addition of the end, that is, a purpose, a resolution, the form sus-, which generally means ‘under’, suffix -ibility, indicating quality, property, verb *imprehendo takes the meaning of ‘beneath’.The frequentative – in Latin state, or way of being. ‘to do’,‘to decide’, etc. *imprehensu- is formed from the past participle of the ‘that which is undertaken’,‘what is done’, verb3 – expresses an action that is Social the primary meaning of our word frequent or repeated, insisting on the From the latin adjective socialis, -e, which empresa (enterprise), which has also taken durative and intensive aspects of an action. derives from the noun socialus, -i; this on the meaning of a place in which The verb teneo,‘to have’,‘to occupy’,‘to noun stems from the same root as the decisions are taken and projects keep’,‘to conserve’,‘to retain’, strengthened verb sequor,‘to follow’, and this is developed. by the prefix subs-, takes on the meaning important in order to understand its of ‘to hold from beneath’,‘to sustain’,‘to meaning:‘that which accompanies’, Development support’, which is further intensified by the ‘associated with’, that is,‘companion’, The verb develop can be found in form of the frequentative, providing an ‘comrade’,‘associate’. Rome’s allies were Portuguese from the 16th century on. idea of weight, of physical sensation, caused given the name socii. During the process Formed by the addition of the prefix dis- by the action:‘to sustain’,‘to support’,‘to of Roman conquest, the communities that to the verb envelop (to enwrap).The maintain’,‘to resist’…
1 This form, which alternates with the more frequent form sub-, was created by analogy with the preposition and prefix ab, which had the stronger form abs (to avoid the dropping of the bilabial before a consonant). 2 By a process of simplification customary in groups of three or more consonants. In this case, the occlusive sonorous bilabial (-b-) is expunged since a mute occlusive follows the implosive -s, which, being one of the nearest phonematics with regard to mode of articulation, contributes to the disappearance of the sonorous 9 phonematic in favour of a certain ‘economy’ of diction. 3 In this case, the participle sustentus, -a, -um derives from the verb sustinere, whence the frequentative sustentare.
Social Responsibility [The Company and its responsibility]
Preserving the Legacy
We all have a commitment, one that cannot be refused, to hand down to future generations a world in which it is worth living. We speak about sustainability, solidarity between generations.
Sustainability means preserving the patrimony and the business, to overcoming actual obstacles in corporate life. Anchoring which brings about the obligation of projecting the life and future management procedures in a context in which problems are of the company beyond the restricted horizon of the short or absent is possible, though it will sure lead to shipwreck at the first medium term.This necessarily imposes recognition of the fact that sign of turbulence. our own rights and interests have so dignity as those of the people that co-operate with us or are our business partners. In giving consideration to social responsibility the rule has come to be one of leaving aside anything problematic and reduce the issue Indeed, even without formal expression, companies – listed ones in to the environmental aspect; because it is the fashion and because particular – subscribe to a social contract that imposes a large and delicate ethical, moral, social and cultural issues should be avoided, diversified range of obligations to the key categories of interested and because of the very subsistence of economic relations, parties, the so-called stakeholders: shareholders, employees, possible only on the basis of equity and of reciprocal interests.This customers, suppliers, investors, the local community, the authorities, does not mean that the environmental issue is not essential. trade unions, consumer associations, etc. Implementing an environmental management policy and controlling a key set of environmental indicators, both internal and In the exercise of the company’s rights and obligations, co- external, is surely one of the requirements of sustainability and of operation and dialogue do not have to be synonymous with corporate social responsibility. condescension. Rather the contrary, they are the expression of rigorous defence of these rights, though they are exercised on the A financial institution must play a more relevant part than mere basis of conjugation of divergent or conflicting interests, never adoption and dissemination of good environmental practice. It through subordination or negation of every interest other than must be firm in its demand for minimum standards of one’s own. environmental conformity when approving loans and granting support to the activities carried on by its customers, by its And it is precisely through this dialectic, which puts the opposing suppliers and by other business partners. interests in their proper place, that company managers can best exercise their personal skills and those of their organisations. However, while not rejecting this obligation – an imperative Without watchful shareholders, without interested employees and of the economic responsibility that it must exercise in without demanding customers the company will have no future, as a responsible society – a financial institution, like any other it will have a lack in incentives for constant improvement and in company, must bear in mind at all times that the quality of the the obstacles required to demonstrate the excellence of the world that we are to hand down to future generations depends organisation and of its work processes. even more on the social environment than on regard for the physical environment. Awareness of this fact is a fundamental Politics teaches us that there cannot exist strong government condition to sustainability. with weak opposition. Corporate history shows that company 11 development is based on proper consideration of adverse Filipe Pinhal factors and that the affirmation of leaders is seen in their ability Deputy chairman of the Board of Directors
The Millennium bcp brand expresses and projects the refoundation There is a perception of a relaunch of a great institution and of the Bank, assuming and incorporating into its genetic code the better of its projection into the future. Evolution imposes new benefits: of each one of the entities that form it.The merger of several greater modernity, greater vigour as a brand, adequate dimension, institutions, with their diverse origins, experiences and paths followed, a potential for internationalisation, expectations of more and better all of them important in some way, underlies such magnitude that justifies service, ability to adapt to change, constant innovation and vision the selection of so ambitious a name: a Bank facing a new millennium. of the future. The Company’s Location
Total 1009 branches
Millennium bcp attitude means that it is turned towards the future. But what lends it greater strength is the awareness that it is built on a past that it does not wish to erase: on the contrary it acts as its supporting root, without which it would not have the strength to face a new millennium. Diogo de Lima Mayer Architect Social Responsibility [The Company and its responsibility]
A different attitude
When, in 1984, I was chosen by BCP Board to develop that it is our duty to preserve and to transmit to future generations. the architectural designs for this Bank, which was then taking the first steps of its existence, I did not have the slightest idea of the This was BCP’s vision, one that was enthusiastically understood by society: impact and of the importance that this project was to have on my Each inauguration all of a branch became professional career and of the extraordinary opportunity that had an event; perhaps with a little fallen into my hands. presumption, we could even say that it was ‘an act of Culture’.
Cases such as Cascais,Terreiro do Trigo My experience in designing for banks had a so-called ‘modernisation’ of the city (Lisbon), Évora, Barcelos, Matosinhos, left me with the impression that, on conceived as such during a rather less Marechal (Foz do Douro), among many setting up branches in the commercially fortunate stage of the history of our others, are milestones along a path that active parts of cities, usually in historic heritage. constitute a precedent of enormous centres, the attitude was generally impact on the way of viewing our extremely mercantile, the result of the It was in this context that BCP was born architectural heritage. commercial war between competitors. and from it outset its firm intention to There was a true obsession, on the one mark its presence in a totally different At Taguspark hand, of securing a location in the best attitude, one that was undoubtedly far We all know BCP’s success story.This possible spot and, on the other, to have a more cultured. success also led to growth, and growth more marking presence than the others. meant more employees and more space A challenge was required.This issue became a greater In regard to the buildings, where they The challenge that BCP embraced, problem towards the end of the 1980s, were installed, particularly with regard to through its architects, was to show that since neither the property market nor their architectural aspects and historic the presence of banks in historic centres the authorities provided any response value, there was little or no concern: what was not incompatible with the in terms of the quality and speed required was important was to be able to adapt architectural heritage: rather the contrary, by the Bank’s growth.The central services, them to the functional needs and image its conservation and enhancement could more and more overloaded every day, requirements, in a clear attitude of provide a huge advantage for the image were subject to numerous constraints, subordination to the interests of the of the institution. causing the Bank once again to be company. innovative in its solutions. Maybe it was not the easiest solution nor, In this spirit countless works were perhaps, the most economic one, but it Since no buildings were available undertaken that contributed greatly to the was undoubtedly the most courageous in Lisbon to meet the needs created destruction, often irreversible, of the one in the sense that it accepted by the growth of the Bank and since it character of historic centres.We all a reversal of the importance of the did not want to put up a ‘mega building’, 17 witnessed this process, not exclusive to values at stake, and never put the Bank’s it occurred the idea of setting up the the banks, that constituted part of presence above the heritage, a heritage Bank using the business park concept A building at Taguspark. Social Responsibility [The Company and its responsibility]
outside Lisbon, where land given The presence of vegetation and water is At Rua Augusta its dimension would allow low density not merely an embellishment, rather it It would be impossible to talk about the building and the possibility of growth reflects a concern to humanise the work Millennium bcp properties without in stages. environment in contrast with the ‘concrete mentioning the building that best reflects forests’ in which companies more often the ‘soul’ of the institution.This is the Those conditions were found in the set up. building in Rua Augusta in downtown district of Oeiras, at Taguspark, where the Lisbon, where in addition to a Branch Bank acquired 11 hectares of land suited The areas set aside for leisure, sports, some of the decision support services and to its needs. meals, meetings – to which a child care the Board of the Bank are installed. facility was added about one year ago – The guiding philosophy of the project can express a concept that goes beyond work, An architect could not hope to find better be summed up in the following essential and looks at people, people who have a ‘raw-material’ than that to be found in this points: need to exchange ideas, to relax, to job. It had all the components that usually socialise, etc., ensuring that time of work is lack in such situations – an original – low buildings (two or three floors), of not just a ‘straitjacket’, rather a place structure full of history, seen not only in medium dimension, very humanised; where human qualities can be enhanced the Pombaline matrix of the building but for the good of society. also below ground level, where – surroundings of quality landscaping and powerful visual connection with the work areas;
– workspace of good environmental quality (lighting, air conditioning, acoustics etc.);
– open-space organisation, flexible enough to allow the layout to be changed;
– properly dimensioned technical infrastructures to accommodate both present technology and future innovation;
– good parking facilities and ease of circulation between the buildings for people.
All the foregoing concepts have been implemented at the Millennium bcp facilities at Taguspark, where 11 buildings had already been put up by 2004.
Their exterior image is the honest reflection of an architectural concept moulded to the Bank itself.The glass, the steel, the metal structures, among others, constitute elements that mirror a certain technology that is present in the day-to- day routine of the institution – that is, we are not pretending to be modern, but 19 merely put on the clothes suited to the work instruments that we now use. Cascais branch. Social Responsibility [The Company and its responsibility]
archaeological digs revealed a huge Following fairly long dialogue with The whole job was a daily process of quantity of evidence of the occupation of the various authorities (Lisbon City invention, in which the architectural the city since Phoenician times up to the Council, the University of Architecture, solutions moulded themselves to the 19th century, including, of course, the which was in charge of the master plan succession of surprises revealed by the effects of the great earthquake of 1755. for Pombaline Downtown Lisbon, IPPAR job. Notwithstanding there were various – the Architectural Heritage Institute – principles that prevailed over the project The Board also had a firm desire that the and the respective Department of concept, namely: architectural quality of the work would Archaeology), it finally proved possible lend the building the dignity suited to its to go ahead with the designs and with – re-establishing the design of the façades functions and it therefore provided all the the work. On that same day the with the original Pombaline matrix; necessary means.There was also great inauguration date was set, eleven confidence in the team of architects, who months hence, to coincide with the – maintaining, in the organisation of the were given what nearly amounted to carte commemoration of the Bank’s 10th internal areas, the original retaining walls blanche to carry out their work, the result anniversary.This was the time at we had of the various buildings (the present of a long period of working together on both for the design and for the building includes eight Pombaline projects and works, during which similar construction work – and time was the buildings that were not put up at the ways of thinking were developed. only ingredient in short supply! same time);
– reconstruction of the roof to the Pombaline design, avoiding the use of the customary outdoor technical plant;
– to preserve the archaeological structures, avoiding their destruction and seeking to incorporate them into the space of the building has and when possible; and
– avoiding any destruction of the arches and vaults forming the ceiling of the ground floor.
Due regard was had for all these concerns on site, in conjunction with another rule that we held to be fundamental: all the work required to design the building to meet the functional needs of the Bank should have a contemporary feel, avoiding any possible confusion of the new with the old.
This principle led to most interesting dialogue between the original elements of the building and the component parts of the present-day work, which, contrary to what might be thought, truly constitutes the great value of this work. Indeed, here one clearly sees the presence of countless evidence of human life down through several millennia of its existence, standing in perfect harmony with the day-to-day life of the headquarters of a bank. Barcelos branch. Interior of the Rua Augusta building. The Surroundings The Customer
In the financial sector
Suppliers
The environment Social Responsibility [The Surroundings]
The Customer
The social responsibility of an entity that accumulated assets brand was extinguished) – BCP, NovaRede, Atlântico and SottoMayor – at equivalent to nearly 30% of credit extended in Portugal involves first supported by specific Marketing not only a well thought out, rigorous attitude during the process of Divisions and Support Units. extending credit, but also the creation of conditions for systematic At the end of 2001, with the conclusion monitoring of the loan portfolio, aiming at preserving and improve of the programmes involving the its quality. integration of people, business areas and support structures, and the rationalisation of the distribution network, the conditions were established to focus A fundamental part of the mission of expectations, raising its activity to a higher energies on commercial activity. During Millennium bcp is the creation of value for level of quality demand, to be a 2002, a start was made to establishing its customers through the offer of benchmark in the marketplace for the a new commercial model involving high-quality financial products and services. difference of its innovative proposals, multi-product/multi-channel distribution This is the essence of the business of having regard for ethical standards and based on a new organisational structure. Millennium bcp.This is the object towards responsibility, consolidating the customers’ The adoption of this new commercial which the Bank has striven since its confidence in the Bank – all these model rested on setting up a number creation. principles are part of the life of of units ensuring the defence of the Millennium bcp and of its work.The customers’ viewpoint – the focus on everyday challenge consists of keeping and specialisation in the respective Millennium bcp (Portugal) customers – June 04 these values in mind at all times in a role – aggregating specific viewpoints constant search for maximum satisfaction and clear responsibilities – Customer, Total customers 3,095,000 of the customers and of their needs. Product, Distribution – and on establishing Total branches 1,009 co-ordination mechanisms – Commercial Female customers 40% Commercial Model Activity Committee and Commercial Male customers 60% Millennium bcp Strategy Support Nucleus – leading to a Since the launch of the first branches articulated and integrated management of Individual customers 93.2% on the Portuguese market in 1986, Banco commercial activity. Corporate customers 6.8% Comercial Português has passed through Cross-selling index * 3.79 a period of great transformation and The introduction of the new Overall satisfaction index (1-100) 78.2 growth.This evolution was possible thanks Millennium bcp brand represented the to sharp growth based on its innovative culminating stage of a process that * Number of classes of products per customer proposals for the Portuguese market. formally began with the implementation (for example, 2 term deposits correspond to one class of products). Growth was also driven by facts that of the new commercial model, though constitute historic landmarks in the life it had already been put into motion by of the Bank such as the acquisition of the merger by incorporation into BCP of Banco Português do Atlântico in 1995 Atlântico, Banco Mello and SottoMayor and the integration and acquisition of during 2000, designed to ensure more Executing this objective involves a strategy Banco Mello and of Banco Pinto & effective practice, free of duplications based on principles elected by the Bank as SottoMayor in 2000. Initially, four and redundancies. Priority was given to 24 vital to the pursuit of its business. autonomous brands were kept in the quality and to customer satisfaction Recognising and exceeding the customers’ retail financial business (the Banco Mello by shifting the focus of the four
Social Responsibility [The Surroundings]
autonomous brands to the more decisive Cycle, which relates customer satisfaction, in the provision of a service of excellence, reality of the commercial activity – the employee satisfaction and the profitability and to keep the Board of Directors segments. of the Bank. Satisfied customers promote informed of the main Millennium bcp the institution both socially and Quality indicators. From a commercial standpoint, the single economically, allowing an increase of brand allows optimisation of the employee self-esteem and motivation, The following types of customers are advantages of the commercial model, which in turn are reflected in better considered in its Market Studies and providing leverage for greater service. Satisfaction Management Systems: specialisation/adequacy of the value proposals, in accordance with the The natural growth of Millennium bcp – external customers – to whom characteristics and financial needs meant that this foundational provision Millennium bcp provides its services; of the customers.The single brand came to be assessed on a regular basis also provides greater clarity and and that Quality principles were – internal customers – who are in contact affirmation in communication with introduced into the Basic and Ongoing with the external customers and the customers. Training programmes for all employees. depend on the services of other internal Millennium bcp units; and The Total Quality Cycle The new organisational models that Customer and employee satisfaction is were imposed by Millennium bcp – employees, in the capacity of customers essential in the process of organisations dimension, and the new operations, of the organisation. development. Since the beginning of its products and channels are all subject activity, Millennium bcp has been aware to regular evaluation in the light of their Both from corporate and from a social of the overall impact of such satisfaction, influence on customer and employee standpoint, only the consideration of these not only as a component generating satisfaction. three measurements provides full profitability, but also as the affirmation understanding of the phenomena-taking of its foundational values. Indeed, the The Quality Division was set up to deal place within Millennium bcp and in its primacy of the customers, the satisfaction with this task of constant measurement relationship with the market. of all their financial needs and a humanist and improvement. vision of the employees, considered Millennium bcp views its organisation as a as people who realise themselves through The Quality Division living structure, comprising people that their professional work, constitute factors The Quality Division is the strategic have countless possibilities that should be that differentiate Millennium bcp market unit whose mission is to regularly expressed, evaluated and analysed. Success position. appraise the degree of Satisfaction depends on the speed with which this of external customers, internal customers human energy is released. In keeping with An ongoing process of quality was thus and employees so as to support every this reasoning, the future requires established, known as the Total Quality one of the Millennium bcp divisions permanent human rebirth.
The Virtuous Cycle of Quality The Satisfaction Function
Satisfied customers
Greater employee Repurchase motivation and continuity and satisfaction of the relationship
Better margins 26 and success of the Bank Better employee fringe benefits and careers Social Responsibility [The Surroundings]
This innovative vision, which relates As Group Employee the human and procedural components 2001 2004 involves and culminates in the provision 74 76 of the service of excellence, is exactly the 15 Very satisfied 17 mission of the Quality Division.
Thus, satisfaction is measured as a 59 comparison between the service provided Satisfied 59 and the expectations created. It is above all the process of analysis of conformity of the quality of service offered and that Neither satisfied nor dissatisfied actually provided, that is, a view of 16 15 Dissatisfied/very dissatisfied fulfilment both with regard to the 9 8 1 1 customer and with regard to the 26 24 employee. 69INDICES 71
The Quality Division’s task is to scientifically identify specific aspects of non-conformity and to analyse Degree of Motivation Want to continue with the Group satisfaction. 2001 2004 2001 2004 76 78 90 92 The Quality Division reports directly 24 Very motivated 25 to the chairman of the Board of Directors and interacts systematically with all the 60 Of course 69 organic units and associate companies Motivated with a view to providing quantitative 52 53 and qualitative information calling attention to disfunctions with regard 30 Probably 23 to the established quality standards. 15 Neither motivated nor unmotivated 14
Unmotivated/very unmotivated Perhaps/perhaps not 7 8 7 9 It implements a number of measures on 1 1 1 1 Probably not a regular basis as well as market studies 24 22 10 8 and satisfaction management systems, 72INDICES 73 87INDICES 90 the purpose of which is to ensure stability The results of these satisfaction polls are provided to all employees every year via a special edition of Millennium bcp Magazine. in those satisfaction levels considered the benchmark in respect of a number of areas.
More profound market studies, Satisfaction with the Product Units covering the entire population to be 80 polled, are generally undertaken 75 every two or three years.They normally provide conclusions on aspects to be 70
improved and measures to be gures 65 fi
implemented, the results of which ex
d 60 n are judged through more regular I Mortgage loans Investment studies and by sampling, known 55 Loans Payment means Bancassurance as Satisfaction Management Systems. 50 27 This leads to an ongoing process Jun 03 Dec 03 Jul 04 of improvement, monitoring, and Social Responsibility [The Surroundings]
constant new challenges that keep protocols with a view to the fostering and The model is based on the three pillars: Millennium bcp motivated. modernisation of the domestic economy. – detection, as early as possible, of In addition to these systematic measures, For the purpose, it has provided support situations suggesting greater risk (even ad hoc studies are also performed to thousands of private or local though not yet revealed any payment in accordance with needs arising from government investment projects, involving default with the Bank), thus allowing the time to time that have to be analysed, either financing or the provision of bank customer and the Bank to take such as an exceptional flow of customer guarantees, in partnership with the State, adequate measures while there is still complaints concerning a given matter, rendering feasible application and time; negative trend indicators obtained execution of projects eligible for through regular studies, or downturn Community funds, provided either by the – timely action involving a number of of the volume of sales of a specific State Budget and, among others, by the measures triggered automatically that product, among others. ERDF, the ESF, the EAGGF and various must be processed; and European Community initiatives. For their The Social Component importance emphasis is given to the – monitoring, allowing the various parties of Loans to Customers applications of micro-companies, often involved to manage the loan portfolio giving rise to the creation of new business with a view to improving its quality, In credit business, Millennium bcp’s units, as well for the support provided to while holding them responsible for relevance to the Portuguese economy local government projects to introduce adequately monitoring those situations stems immediately from its market share: and modernise infrastructures. brought to light. about 30% in Loans & advances to customers, or about €40 thousand millions Furthermore, the Bank has opened up the This approach, supported by exceptionally in June 2004 (domestic business). Including possibility to Portuguese entrepreneurs well integrated processes and models international business, Loans & advances to and companies to access to funds of great forecasting potential, allows the customers exceed €53 thousand millions. provided by foreign entities such as those Bank to find solutions for the most varied mentioned above, within the scope of types of customer that, further to Loans to companies provides support to every programmes with a special social contributing to better risk management, activity sector, with a diversify and balanced orientation – job creation, creation and allow us, at the same time, to deal with breakdown: strengthening of competitive conditions cases of temporary unemployment, for SMEs, social housing – namely by alteration of family structures and 27.4% services taking upon the risk of medium-and long- sporadic difficulties associated with term loans towards the financing the financial life of companies.With this 16.1% civil construction and public works institutions. support it is possible to strengthen the 8.2% wholesale trade attitude of responsible involvement with 6.7% retail trade Monitoring Loans customers who are going through difficult 3.9% transport and Communications Given the monitoring of outstanding loans times and seek the advice and help of 3.4% chemical industry crucial to the financial health of the Bank the Bank. and to the social stability of its customers, 3.1% textile industry and having as a goal the improvement of Particular attention is given to the 3.0% restaurants & hotels the support mechanisms and objective of ‘relaunching life’, valid both 2.4% food & beverages systematisation of measures inherent in for individual customers and for this important function, it has been companies.We would emphasise Investment Credit within conceived and developed the Credit the fact that over 95% of failures to meet the scope of Protocols Monitoring and Regularisation Model mortgage loan repayments are solved Millennium bcp is an important partner of (CMRM). by restructuring the financial plans of the the Portuguese State and, in the country, loans, allowing for periods of inability of supranational, Community (EIB, EIF) and The CMRM is designed to strengthen the to comply and saving households from other (CEB – Council of Europe ability to identify in timely manner cases of the risk of execution through the courts, 28 Development Bank, KfW) institutions, potential or real default, allowing adequate which almost always ends up in loss of within the scope of several dozen official measures to be taken in advance. the family home. Social Responsibility [The Surroundings]
Contributing to integration arose from the need to provide immigrant from Eastern Europe, against payment of a communities with a structured offer suited fixed monthly commission.The main goal The Micro-credit experiment to their financial needs. Over the past of this initiative is to support the foreign Millennium bcp has been implementing three years, the foreign population population resident in Portugal during the feasible solutions to ensure the right to resident in Portugal has grown by about period of integration, meeting their specific non-exclusion in regard to financial services 24%, and the flow of foreigners into needs: – including right of access to a bank Portugal is expected to continue to – establishing a banking relationship; account and to loans, and consequently to increase in coming years. – providing access to payment take advantage of investment opportunities mechanisms; – on the basis of lack of income, minimum Supporting the foreign – transferring funds to the country of financial condition or sufficient guarantees. population resident in Portugal origin securely and quickly; In 1999, the Bank entered into a This solution provides a set of financial – securing a return on savings; and co-operation protocol with the National products and services to the low-income – providing cover for health and accident Association to the Right to Credit Access immigrant segment, particularly immigrants risks. with a view to granting personal micro-loans to the unemployed or to other economically or socially excluded citizens Origin and evolution of the foreign population who have the capacity to access economic resident in Portugal (2001 to 2003) activity and submit viable projects.The aim here is to create self-employment, + 18% + 26% + 28% +32% + 35% particularly by taking advantage of typical micro-company opportunities. From January 2003 to September 2004 a total of Overall 143 operations were entered into, in a + 24% total sum of €629,461 (an average of €4,402 per operation).
The purpose of micro-credit is to create, develop and encourage, through real evidence, local mechanisms to help in the Africa Eastern Europe South America Europe Rest of the World fight against poverty, unemployment and social exclusion and, at the same time to Source: Portuguese Foreigners and Border Service create public awareness both to the relevance and effectiveness of private ‘Passport Account’ / Main characteristics savings instruments in attenuating deprivation in times of economic difficulty, Current- -account Current-account maintenance commission is waived. and to the fact that access to economic activity is more dignifying than falling back Exemption from the annual Visa Electron card fee: a debit card that allows payments to be made in commercial establishments, cash withdrawals, Cards on social welfare systems. Recognising payment of services, mobile phone loading and consultation of the Passport the importance of micro-credit to the Account balance. implementation of the objectives of Free Personal Accident Insurance providing a sum of €5,000 this millennium, the United Nations in the event of decease of the Passport Card holder – caused by Insurance professional and extra-professional risk – and assistance service for elected 2005 as the International Year the conveyance of the body to the capital of the country of origin, of Micro-credit. up to a maximum of €5,000. Increasing Savings Account: a placement that can be increased by The Passport Account Savings a small amounts (minimum €50) earning guaranteed interests plus a half-yearly This account was launched in September reward. 2004, conceived specially for immigrants Free direct debit: allows payment Free access to the Services residing and working in Portugal. of periodic costs (electricity, gas, water...) telephone attendance and 29 at no cost. Internet service. The launch of the ‘Passport Account’ Social Responsibility [The Surroundings]
The Customers’ voice the information requested in a precise, following consultation of the archives The Bank wants to hear what the objective and consistent manner; to and collection of all pertinent information. customers have to say.This is a source channel to the innovation centres all The technical sophistication of the of inspiration of inestimable value to suggestions for improvement; to identify system to categorise the contacts and improve processes, amend attitudes the causes of the more frequent to systematised the decision process and innovate in products and services. complaints and to act as the problem is insufficient, as can be understood, Whenever customers contact us, they arises, eradicating operating deficiencies to ensure that all answers meet can help us to improve: a simple form or faulty attitudes. the customers’ requirements and eliminate of giving instructions for transaction The customers’ voice is listened with the causes of dissatisfaction. Nevertheless, should stimulate our thoughts, but we particular attention in cases of errors even in cases of divergent opinions, feel clearly called upon when customers or anomalies, dissatisfaction with the there remains the principle of the primacy ask for information and make suggestions quality of the service or lack of clarity of the customer. Should a customer or complaints. of information provided.The information wish to appeal, there is recourse Through the joint work of the Quality collected makes a decisive contribution to the Ombudsman who will Division and of a consultant specialised to careful evaluation of the grounds independently appraise the grounds of in processing information, a process was for the complaints and to a process the complaint and the explanations conceived to collect and systematise all of fast, coherent decisions. Since the provided by the services. customer contacts, no matter the form introduction of the Contact Management or means employed (oral or written, by Division (January 2003) a total 116,115 Ombudsman letter, telephone or Internet). suggestions and complaints have been The creation of the position of It was created the Contact Management analysed and dealt with the following Millennium bcp Ombudsman in Division, specialised in quickly collecting promptness: within 24 hours (44%); December 2003 reflects an integrated and processing all contacts made by within 48 hours (55%); within 72 hours concept of internal management of the customers (during the process about (62%); more than 72 hours (38%). matters that give rise to customer 6,600 reasons for contacts were In those cases in which the complaint complaints or claims.The aim is to provide determined), in an attempt to ensure is connected with older facts or requires reasoned and specific response to issues that none of the reasons for which we consultation of documentation not that are presented. are contacted is mislaid. produced by the Bank, the complainant is The Ombudsman deals with the claims or The sophisticated architecture of the contacted and advised complaints of Millennium bcp customers system allows: fast and efficient execution that, due to the complexity of the in respect of any of the areas or levels of of the requested operations; to provide matter, the answer will be provided involvement with the Bank.
Listening to Consumer Associations
Millennium bcp regularly receives As a rule, Millennium bcp replies to all enquiries from consumer enquiries and requests for information associations.These enquiries address made by such associations. the most varied subjects involving 2003 2004* banking business. Consumer All requests for information and Association all enquiries are received by the enquiries replied 70 51 Millennium bcp Communication Division, Average reply which asks for updated information time (days) 6 5 from the responsible area and replies to the consumer associations. * Figures for the first half of 2004.
30 Social Responsibility [The Surroundings]
In the financial sector
During the period from 1985 to 1990, with the opening personalised relations with customers, innovation, operating efficiency and of the financial sector to private initiative, authorisation was technological leadership. granted for the banks to gradually open branches. Specialised financial institutions were set up and the loan operations that The period between 1985 and 1994 was a time of sharp organic growth for Banco the commercial banks were allowed to undertake were made Comercial Português. Implementation of more flexible. this model led to the launch of the "Particulares e Negócios" branch network (1986) – directed at high income individuals and medium-sized companies, The early years of Banco Comercial to gradually open new branches. respectively, with a service of excellence Português were a period of profound Specialised financial institutions were based on the concept of the Account structural changes in the Portuguese launched and the loan operations that Manager, a specialised interlocutor trained financial system. In June 1985, when the commercial banks were allowed to to clarify and advise the customers – the the deed of incorporation of BCP undertake were made more flexible. Private Banking branch network (1988) – was signed, the banking industry was During this period a number of directed at the high net worth individual almost entirely dominated by state innovative products appeared, with segment – the Large Company and credit institutions and the regulatory emphasis on Mutual Funds, Mortgage Institutional network (1998), NovaRede framework was very restrictive. Loans and Payroll Accounts. (1989), the sSmall Business banking Common governmental tutelage network (1992) – directed at and the administrative limitations to Among other recent banks, only BCP was micro-companies, liberal professions and banking activity naturally discouraged a universal bank; but a new institution small businesses – and Banco7 (1994) competition between the main financial could not operate simply as another – the first direct bank to operate in operators.This system led to an absence universal bank in the traditional manner. Portugal, structured in the light of of long-term strategies, in an The alternative involved a focus on segmentation criteria of a behaviour environment of protectionism from the segmentation, supported by a powerful nature. outside world, being Interest rates technological rear, lean on a stable instrumentalised in the light of shareholder structure, a professional and Underlying BCP’s ambitious growth socio-economic objectives. Quantitative autonomous management of targets was the creation, development limits to the growth of credit, restrictions shareholders interests, on early and consolidation of business units that to international capital flows, the mobilisation of the own funds required came to be structured as an integrated, conditioning of opening bank branches to finance investment programmes, homogeneous financial group, allowing the and other rules restricted competition qualified human resources and on the enlargement of the scope of the Bank’s and hindered the conquest of market implementation of the cross-selling financial activities, accessing new sources share by the recently constituted financial model involving complementary financial of income and stimulating the cross selling institutions. products and services.These factors of products and services.This orientation allowed competitive advantages to be led to the creation or acquisition of During the period from 1985 to 1990 built up, determinant to the pursuit of ‘product factories’ – Ocidental Seguros the portuguese financial sector opened the objectives that had been established, (1987), Nacional Factoring (1987), doors to private initiative, and particularly specialisation, service Interfinança (1998) – which came to be 31 authorisation was granted for the banks excellence, prompt response, at the origin of AF Investimentos – CISF – Social Responsibility [The Surroundings]
acquired in 1990, still in the form of an profitability of the traditional banking factories’ and management skills that could investment company, currently the business, an increase of customer be leveraged in support of a more broad Group’s investment bank known as satisfaction and loyalty, and also the business base. Millennium bcp Investimento – Banco de strengthening of the responsibility and Investimento Imobiliário (1993) and motivation of the commercial staff. Early in 1995, BCP,together with CrédiBanco (1995). Companhia de Seguros Império, launched BCP came first in the wave of a takeover bid for Banco Português do The BCP Group thus came to be consolidations, with the acquisition of CISF Atlântico. It was a major financial involved in business areas as diverse as in 1990. Faced with a need for dimension operation – Portugal’s biggest private insurance, leasing, factoring, asset and profitability, BCP’s next step would financial group – and it demonstrated the management, investment banking, have to be based on a strategy of growth capacity and the will of Banco Comercial mortgage and consumer credit. through acquisition, a challenge for which Português to become the benchmark Systematically taking advantage of it was well placed: it had achieved within the Portuguese financial context. opportunities to sell these products to remarkable dimension on the domestic the customers of the banking networks, market, it had a stable shareholder base Banco Comercial Português’s role in the gearing these subsidiaries to top positions and investors were receptive to financing process of consolidation of the in their respective sector ranking, it expansion programmes. It also had the Portuguese financial system was, once allowed a considerable increase of the technological know-how,‘production again, objectively demonstrated through
32 Social Responsibility [The Surroundings]
Largest banks operating in Portugal (million euros) Source: Reports and Accounts of the Banks
Total Assets Loans Total Customer Net Customers Funds Income
Millennium bcp 2002 61,852 45,451 47,491 273 2003 67,688 49,177 51,375 438
Caixa Geral de Depósitos 2002 66,581 44,367 55,783 665 2003 74,172 44,094 57,346 667
Banco Espírito Santo 2002 41,234 25,639 34,059 222 2003 43,283 25,428 38,401 250
Banco Totta 2002 26,864 20,638 24,081 210 2003 28,851 17,758 26,035 241
Banco Português 2002 25,669 16,473 17,690 140 de Investimento 2003 26,195 17,638 18,214 164
the acquisition and merger operations starting from a higher level, by attracting in the distinct market segments undertaken during 2000, particularly: new customers, reaching greater addressed. involvement with the customer base and – the takeover bids for Companhia de through the development of new During 2003 BCP unified the various Seguros Mundial Confiança and of the distribution channels. commercial brands into a single new banks under its control – with regard to corporate identity: the Millennium bcp BPSM, it reaffirmed its interest following Continuing the efforts to enhance the brand.The introduction of the single the announcement of an agreement market segmentation strategy, with a view brand for the BCP Group constituted the between the various parties, having to the overall satisfaction of the conclusion of the cycle of integration of ended up by acquiring from CGD a customers’ financial needs, the the corporate structures, which, at various majority holding in BPSM; preservation of a quality service, the times, came to form part of BCP,and the rationalisation of operating costs and to bringing together of the various brands – the integration of the financial area of improve the degree of specialisation of under a single corporate name.The the José de Mello Group; and the various distribution networks, BCP Millennium bcp brand provides a unifying has implemented in recent years a sense, providing the market with a – the merger by incorporation of Banco process of integration of the new brands number of vectors: universality, Português do Atlântico into BCP. and distribution networks.This gave rise timelessness, greatness, solidity, credibility, to consideration of the Bank’s competitive effectiveness, quality, dynamism, modernity, This growth through acquisitions lent a position and to a redefinition of the innovation, boldness, vision of the future 33 new impetus to resume organic growth, commercial activity of the different brands and success. Social Responsibility [The Surroundings]
Attitude in relations The Bank’s attitude with regard to the competition with the competition The Bank’s strategy has been directed involves recognition of the importance and of value at differentiation through the quality of its competitors. of its service and attendance and through customer perception of the quality of its intangible assets, and with a view to the introduction common positions adopted in respect of in a long-term reasoning rather of new products. particularly relevant matters, particularly than through competition based on in the fields of legislation and taxation, price.The Bank has shown commercial Permanent co-operation and dialogue vocational training and negotiation aggressiveness directed at increasing with the Regulatory Authorities is of procedures involving the trade union its market share, though governed fundamental importance, ensuring associations. at all times by solid ethical principles. provision of all the information required Taking advantage of opportunities for banking supervision purposes, relevant The Bank has been involved since the created by the privatisation processes also to the preparation, analysis and beginning in the development of SIBS, the has allowed the Bank to increase publication of monetary, financial, foreign operator of the technological payments its size and to secure a position within exchange and balance of payments systems, the ATM network.The the system allowing it to develop an statistics.The Bank also provides the Bank contribution made by SIBS to the general autonomous strategy of affirmation of Portugal with information required for efficiency of the Portuguese banking in the market. the centralisation of credit risks, bills system is unquestionable, through the protested and risky cheque users, while it provision of technological payment means Since its foundation, the Bank has also implements all procedures necessary and, as supplement, by provisioning other considered, within the framework of to the prevention of money laundering. associated services, combining security, institutional dialogue, the benefits of effectiveness, convenience and innovation association with its competitors with a The Bank is also strongly committed with at the lowest possible cost.These view to establishing a level playing field the Portuguese Association of Banks, developments constitute the current and a common position with regard to which provides essential functions to the benchmark at international level in this the problems facing the financial system financial system. Attention is drawn to the field.
34 Social Responsibility [The Surroundings]
Suppliers
The process of selecting suppliers is considered determinant to ensuring It can be seen that the involvement with each supplier varies, influenced not only by the investments the success of a cost efficiency policy, that constitute a priority for Millennium bcp each year, but also because, within the same sector while obtaining high quality and of activity, relationships were begun, decreased or ended. supplier conformity in respect of The 10 activities that most counted for the volume of purchases up to July 2004 were: best practices and compliance with legislation. 1. Information technology (hardware + software + sundry IT services); 2. Communications (telephone + mail + SIBS); The process of acquiring and hiring 3. Maintenance of facilities; the supply of services from external 4.Advertising; companies in regard to stationery 5. Consultancy; and office equipment is the sole 6. Security; prerogative of the Procurement 7. Construction work; and Property Division.This Division 8. Energy; is responsible for the definition 9. Provision of services (lawyers, archives, cleaning, finishing, document processing); and of the criteria governing selection 10. Plastic cards and sundry forms. in the acquisition of products and services. – the company’s position in the During the past four years, Millennium bcp The process of selection of the various marketplace; has established relations with about 8,000 Millennium bcp suppliers takes into – financial information; suppliers, although actual purchases consideration not only factors such – situation in order with regard to Social involve an average of only 3,000. as the price/quality ratio and the Security and the tax authorities; certification of the product or service, – social, employment and environmental The overall value of purchases in the but also the supplier company as commitments; domestic area amounts to about a whole. – capacity for innovation; and €400 million year; 66 suppliers, each – guarantee of meeting delivery dates and involving supplies worth more than The selection process takes into account of providing technical assistance and €1 million, account for about 68% several criteria, such as: after-sales service. of total purchases.
Year TPSS* in the Total Suppliers Proportional Domestic Area Active billing > €1 of total Suppliers** million Purchases
2001 443,609 3,054 86 77.66%
2002 441,264 2,619 75 77.60%
2003 412,164 3,768 66 68.45% 35
* Third-part supplies and services. ** For a database that lists relations with some 8,279 suppliers. An essential vector Nowadays, the environment is truly imperative for successful companies. Firstly, any leading company is under market pressure to provide total quality. This implies a powerful environmental pillar, with regard both to compliance with legal requirements and to good management practices. Consumer citizens value the environment, and this therefore constitutes a business opportunity.
Secondly, a company committed to social responsibility must have high standards, in addition to the customary good practice. It must adopt a transparent stance and procedures and activities with clear positive social and environmental consequences. Thirdly, it must be recognised that companies are the segment of society that has the greatest capacity to encourage transformation directed at sustainable development, for they are at one and the same time very dynamic (contrary to the State) and have substantial financial resources (contrary to voluntary non-governmental organisations). It must be pointed out that the Environment cannot be viewed in a half-hearted way; it’s either taken seriously, or not at all.Among other things, social responsibility means identifying and confronting all the principal environmental consequences of corporate life.That said, all initiatives focusing on the Environment as an essential vector of company activity are to be praised and supported. João Joanaz de Melo Professor of Environmental Engineering Universidade Nova de Lisboa Social Responsibility [The Surroundings]
The environment
The environment and the financial sector are intimately related mainly in respect of the indirect impacts caused by the business carried on by the financial institutions.The indirect impacts stem largely from the essence of the activities that are carried out.
The Environment aim being to minimise the direct – as entities that support companies by and the Financial Sector environmental impacts of the business. granting credit; and The environment and its preservation – as investors on the financial markets. constitute a priority for the entire The environment and the financial community, including companies and sector are particularly related in the The credit granting and investment their stakeholders. In the corporate matter of the indirect impacts caused policies of the financial institutions have world, the financial sector is no exception by the business carried on by the great influence on the environment.The and assumes a special importance in the financial institutions.The indirect introduction of environmental criteria environmental issue, being an activity that impacts stem largely from the activities and gauging environmental risks when weighs heavily on the life carried on: analysing projects and companies to be of companies, individuals and the whole community.
It is true that the financial sector is not included in areas of activity of great environmental risks.The direct impacts of the financial sector on the environment are relatively small, essentially involving internal operating activities.These, however, should not be belittled and should be subject to strategies designed to protect the environment.The consumption of energy, water, paper, consumables, fuel, other resources and CO2 emissions are among the major direct environmental impacts to be considered. Definition of an environmental policy containing programmes on efficiency, recycling and reuse of materials, reduction of waste, training in the environmental area, selection of suppliers and arranging campaigns directed at customers and suppliers is held to be the proper line 37 of action for the financial sector, the Social Responsibility [The Surroundings]
supported can make a fundamental search for better solutions for the various to the preservation of the environment contribution to the defence of the kinds of waste produced. Although and to the defence of nature and natural environment. there has been diversification over the resources. In June 2004, Millennium bcp’s years, through the appearance of new process of selection of the company This finding is valid both with regard products, the quantity of waste has been responsible for the destruction of sundry to support through credit and through reduced in some cases as a result of obsolete information technology material capital. In the investment area the rationalisation of the consumption that could not be reused, motivated financial institutions can play an essential of the product that gave rise to it. An a special word by Quercus, a leading role by developing and marketing financial example of this is the consumption environmental NGO. products related to companies of paper, which has been substantially and projects that contribute to the reduced through dematerialisation The Bank’s policy has also been defence and protection of the of the forms used by the branches and directed at donating materials environment (alternative energies, of the number of printed banking that can be converted and reused, for example). statements, now available via the and to sharing of the revenue generated Bank’s site. by waste with economic value.This year Waste Treatment and Recycling a part of the revenue generated Proper waste management has been Millennium bcp has looked for ways by recycling toners and ink cartridges of growing concern for Millennium bcp to process waste that contribute not only were donated to a welfare institution and, at the same time, a challenge in the to meeting legal requirements but also (Gil Foundation).
Recycling at Millennium bcp (2002-04) Consumption (July 2003 to July 2004)
Paper Cardboard Toners/Cartridges Type of Product Units Year kg kg Units
Copy paper (A3/A4/A5) 197,443,160 2000 491,059 21,446 0 Sundry paper 87,108,870 Envelopes 81,793,827 2001 311,851 3,819 0 Consumables 76,035,727 2002 737,669 101,471 1,341 Letter head paper 34,237,880 Plastic products 4,102,305 2003 497,177 43,297 3,620 Cardboard materials 362,956 To ners and Ink Cartridges 36,009 2004* 296,513 60,994 1,948 Batteries 752
* To July Social Responsibility [The Surroundings]
The Reuse has also been encouraged, the most recent example being the fact that the unification of the Bank’s In keeping with practices implemented by and formalised at Millennium bcp, image meant that several products all waste material is divided into families and subsequently used for various came to be superseded, particularly purposes in accordance with the type of material in question: those bearing the logos of the old brands (paper and pens, for example), which are now being for internal – it may be donated to welfare institutions (computers, furniture, consumption. for example); Rationalisation of consumption. – it may be sold (waste of economic value, especially paper, cardboard, toners, Optimisation of resources x-ray films, etc.); The aim is that consumption of electricity, water, fuel, travel, – or delivered (waste of no economic enhancement, such as wood, plastic) and cafeteria articles are undertaken to companies accredited by the Environment Ministry, selected by rationally in the coming years.This call for tenders; goal depends to a large extent on the personal behaviour and attitude – or be taken by the suppliers for scrap or recycling (POSs, ATMs). of each employee.
Consumption 2003 To July December (thousand euros) 2004 2004 (projection)
Energy – gas, electricity 10,191 6,173 10,582 Mains water 827 513 880 Fuel 3,385 985 1,689 Travel in service abroad 9,688 5,759 9,872 at home 6,673 3,904 6,693 local 886 590 1,011 Cafeteria articles 927 458 785 of which, bottled water 467 263 n.d. Social Responsibility [The Surroundings]
Co-generation ii) the hot water produced by the Investment – the environmental Millennium bcp currently has a cooling of the generators is used in the component in support of projects co-generation unit at the Taguspark working of the air-conditioning system. Through Millennium bcp Investimento the complex, providing more efficient energy Bank’s conduct has always been directed consumption, since: Another concern was the option for at ensuring strict compliance with all natural gas (an alternative less pollutant environmental legislation applicable to i) the electricity generated meets a than fossil fuels) to feed the generators, each project, particularly with regard to significant part of the needs of the a measure that also contributed to a those projects involving project finance. complex; and reduction of the overall pollutant load. Management of the environmental risk has long been an express concern of the institution. Co-generation plant (Taguspark) The environmental risk is one of the aspects subject to greatest scrutiny, Individual nominal electric power 1,125 kVA (923 kW) involving the use of technical consultants Individual nominal thermal power 1,312 kW where necessary, both in due diligence or Running hours (2003) 16,248 risk analysis and in routine monitoring of strict compliance with any mitigating Total electricity produced (2003) 13,616,513 kWh measures imposed by the approval decision.This concern is also seen in the inclusion of clauses in financing contracts, establishing both the need for the borrower to secure all the relevant approvals before the funds are provided and the borrower’s constant obligation of complying in full and at all times with applicable environmental legislation and periodic reporting on this and other matters.
This compliance is at the same time a conceptual and a practical act, since the Bank makes use of external technical consultants who are contractually entitled to inspect the site, both during construction and in operation, to check that the reporting is in keeping with the reality.
Renewable energies In conjunction with promoters of renewable energies, the Bank has always been deeply committed to the success and to meeting the objectives set out by governmental authorities calling for renewable energies, excluding the major hydroelectric plants, to account for 12% of installed electricity generating capacity by the end of the decade. Detail of the Taguspark co-generation system. Social Responsibility [The Surroundings]
Use of renewable energies is one way in which Portugal monitored by Millennium bcp Investimento through its technical consultant. can advance towards containing the national energy bill and towards reducing its dependence on fossil fuels, Another is the Chão Falcão Wind Farm, which, at the time, was the second biggest oil in particular. wind farm under construction in Portugal. It is located in the region of the Serra d’Aire and Serra dos Candeeiros hills and The Use of renewable energies is one including approval and environmental the project calls for 34.5 MW to be way in which Portugal can advance monitoring. delivered to the national grid. It, too, lies towards containing the national energy bill within a protected area of the Natura and towards reducing dependence on Renewable energies: 2000 Network – 2nd Stage.The fossil fuels, oil in particular. some recent projects environmental impact declarations (EID) One of the projects being financed is the issued by the State Secretariat for the Consequently, Millennium bcp’s portfolio Outeiro Wind Farm, with a planned Environment were favourable, subject to already contains a number of loans capacity of 30 MW. It is located in a some conditions imposed on the working to projects in this field, particularly protected area (Serra do Alvão Nature plans and to minimisation measures and mini-hydroelectric plants, which Park,a part of the Natura 2000 Network). monitoring ahead of the construction constituted a ‘first wave’ of investment, The secretary of State for the Environment stage and during construction, operation and wind farms, which, in the past, issued a favourable final opinion on the and shutting down. Here, Millennium bcp began by being relatively small project’s Environmental Impact Appraisal Investimento will be, once again, involved investments and have in recent years (EIA), subject to meeting during in monitoring strict compliance with the been gaining critical mass, increasing both construction some conditions imposed on borrower’s environmental obligations, 41 in size and in complexity at every level, the project, and this will naturally be through its technical consultant. Social Responsibility [The Surroundings]
Investment Funds Investment funds that invest in companies employing socially responsible practices have seen growing importance on the financial markets.Through ActivoBank7, Millennium bcp markets this category of investment funds.The funds distributed by ActivoBank7 within the scope of social responsibility include funds directly related with the environmental aspect.
Socially responsible companies tend to be recognised by the market.This conclusion is confirmed by the growing increase of the number of investment funds in this field, the growth of the amounts under management and the increasing appreciation these investment funds. It should be noted that all the ethical, ecological and alternative-energies investment funds currently available through ActivoBank7 generated a return last year greater than the appreciation of the MSCI World index, which presents the evolution of the global equity markets.
Socially responsible funds distributed by ActivoBank7
Name Sector Return past year (*)
UBS (Lux) EF-Future Energy B Alternative energies + 7.78 % DWS Invest Sustainability Leaders NC Ethical + 7.63 % UBS (Lux) EF-Eco Performance B Ecological + 5.25 % Credit Suisse EF(Lux) Global Sustainability B Ethical + 2.46 % Merrill Lynch IIF New Energy E $ Alternative energies + 2.19 % JP Morgan F Global Socially Responsible D Ethical + 1.54 %
Indice MSCI World General index + 0.67 %
* Past returns are no guarantee of future returns.The return on each fund varies in accordance with market conditions and with the price of its assets.The returns refer to the period from September 12, 2003, to September 10, 2004 and the figures reflect the returns on an investment during the whole of the said 42 period. All returns are referred to euros.The returns are subject to withholding tax at the rate of 20%. Does not dispense consultation of the prospectus of each fund.
The company, a society Fundamental characteristics
Corporate ethics
Corporate governance
Investor relations
Organisations in which it is involved
Employees Millennium bcp Fundamental characteristics
[ Vision ]
An International Benchmark institution, for its sustained creation of value – Recognised exemplary Benchmark, – International, that is, projected beyond the Portuguese market – Sustained creation of value,consistent, focused activity [ Mission ]
Creation of wealth for its customers through its offer of high quality financial products and services, with strict observance of high standards of corporate conduct and responsibility, providing a sustained, distinctive return for its shareholders [ Values ]
Dedication to Customers Recognition of and exceeding customers’ expectations and needs
Excellence Demand for high quality in the provision of services and in the offer of products
Innovation A market reference for the difference and boldness of its innovative proposals
Trust The activity of Millennium bcp and its employees is governed by regard for high ethical standards and responsibility that are strictly observed [ Strategy ]
Unquestioned leadership of the Portuguese market,driven by an overall offer of financial products and services directed at selected market segments under the aegis of a leading brand
Carrying on financial activities in selected markets,addressing segments of high value-creation potential, under an identity and service of excellence that are outstanding as a local landmark
Ongoing search for greater efficiency,taking full advantage of synergies generated by the centralisation of activities and capitalising on the know-how and experience accumulated in the various markets
Rigour in risk management and financial discipline, optimising the non-core asset portfolio and establishing partnerships for complementary activities within the service of excellence Social Responsibility [The Company, a society]
Business Areas
Aiming at meeting the financial needs and expectations of the various market segments, Millennium bcp is organised in several business areas – Retail Banking, Private Banking and Asset Management, Commercial Banking, Corporate Banking and Investment Banking.
Avenida da Liberdade branch (Lisbon).
Retail Banking customers and small businesses, through service of excellence to high net worth Retail Banking business in Portugal is the service of excellence based on individual customers, and by Millennium dominant segment of the business of innovation and personalisation, directed bcp Fundos de Investimento, a subsidiary Millennium bcp, both in terms of turnover at customers who, for their specific specialised in asset management business. and of results. It serves the financial needs interest, financial assets or income, of specific market segments.Within the require attendance through a dedicated Commercial Banking scope of the cross-selling strategy, the Account Manager; and Millennium bcp’s commercial banking retail network also acts as a distribution business is carried on by the Companies channel for the financial products and – the Mass-market customer segment, or network, which covers the financial needs services for the Millennium bcp business ‘pure retail’, through service of of companies with an annual turnover of segments as a whole. excellence based on innovation and between € 7.5 million and €100 million. speed, viewed as the characteristics The Millennium bcp Companies network The commercial approach strategy in the most appreciated by this segment. is the market leader in its target segment, retail business, in accordance with the new and it continues to focus on innovation commercial model that has been Private Banking and on an overall offer of traditional implemented, has been set up taking into and Asset Management banking products, complemented by consideration the definition of two priority Millennium bcp’s asset management specialised financing and value added customer segments: business is carried on by the Private services, in addition to the provision of Banking network and by Banque Privée the best Internet Banking services for 47 – the segment of customers having BCP,which is headquartered in Switzerland, companies available on the market – personalised attendance, affluent both specially directed at the provision of a millenniumbcp.pt/Empresas. Corporate Banking Insurance Business marketed via other channels) through and Investment Banking By concluding the sale of the insurance the Millennium bcp banking channel Corporate banking and investment business, Millennium bcp will carry on in Portugal, thus bringing together the banking business is undertaken by the business in this area through the holding market potential provided by more than Millennium bcp Corporate network and company Millennium bcp – Fortis Grupo 3 million customers and 1,000 Millennium by Millennium bcp Investimento.The Segurador.This holding company will be bcp branches and the recognised skills Corporate network covers the financial the result of a joint venture between of Fortis in the insurance sector. needs of institutional customers and large Millennium bcp and the Belgian-Dutch corporations with an annual turnover of group Fortis, in which Millennium bcp will ActivoBank7 more than € 100 million, providing a have a 50% stake.This holding company ActivoBank7 is an autonomous financial service adequate to the considerable will comprise the following insurance institution held by Millennium bcp, whose degree of sophistication of the customers, companies: Ocidental – Companhia business consists of offering the best while providing a complete range of value Portuguesa de Seguros de Vida, SA, investment solutions for individual added products and services. Ocidental – Companhia Portuguesa de customers via the Internet. ActivoBank7 Millennium bcp Investimento, a company Seguros, SA, Pensõesgere – Sociedade provides an overall service, though with a specialised in investment banking business, Gestora de Fundos de Pensões, SA, and specialised focus on stock market business provides a financial consultancy to Médis – Companhia Portuguesa de and on the selection and counselling of domestic companies and corporate Seguros de Saúde, SA.These insurers, long-term investment products having groups in various sectors of activity, within market leaders in bancassurance and distinctive advantages in high quality the scope of financial and sector health insurance, received more attendance and a product range suited to restructuring, of repositioning within the than € 1.25 thousand million in the customer base, involving exclusive capital market, of strategic development premiums in 2003 and are involved products and service. ActivoBank7 and of economic and financial risk analysis. mainly in sales of insurance products provides a wide range of the best Millennium bcp Investimento also provides through the banking channel.The parties investment funds managed by the world’s specialised consultancy to those engaged entered into an exclusive distribution most renowned management companies, 48 in flagship investment projects and it is agreement for life, health, non-life and while it also accepts stock market orders also active in project finance business. pension-fund products (the latter also for the leading international markets. Poland Millennium bcp does business in Poland through Bank Millennium, in which it holds a 50% stake. Bank Millennium is a universal bank directed at medium-and high net worth individuals, and at the Medium Companies and Small Businesses segments.
Greece Business in Greece is undertaken by NovaBank, which started up during 2000, in which Millennium bcp has a 50% holding. NovaBank focuses on retail banking and on penetration into the Private Banking and Businesses & Companies International Operations segments. Millennium bcp’s business outside Portugal is largely carried on by various banking operations located in affinity markets and in markets of recognised growth potential. Macao These institutions include Bank Millennium Banco Comercial de Macau is a universal bank (Poland), NovaBank (Greece), BankEuropa engaged in retail banking, with the considerable (Turkey), Banco Comercial de Macau relationship with Companies and other (Macao), Banco Internacional de institutional customers, it has very considerable Moçambique (Mozambique), Banque BCP experience in financing foreign trade. (France and Luxembourg) and bcpbank (United States and Canada).
The prime focus of Millennium bcp’s international business involves banking Mozambique operations in Poland and Greece, where Banco Internacional de Moçambique (BIM) marks they stand out for the innovation that the presence of Millennium bcp in Mozambique. they have introduced to these markets, A universal bank, it has an innovative concept of based on the experience and know-how retail banking on the Mozambican market, acquired by Millennium bcp on the directed at individual customers and companies. domestic market. BIM is the market leader in this country.
USA and Canada The bcpbank is a local bank that serves not only the local population but also the Portuguese community and resident customers of Portuguese descent in several North American states and in Canada, where there is a large community of Portuguese origin.
France and Luxembourg Banque BCP is engaged mainly in retail banking business, with a focus on the segment of customers of Portuguese origin resident in France and Luxembourg, where it seeks to make its mark as the relationship bank par excellence.
Switzerland Banque Privée BCP is an operation set up to provide a service of excellence in Private Banking for Millennium bcp customers. It is specialised in personalised asset management solutions in keeping with the specific needs and risk profile of each customer. Social Responsibility [The Company, a society]
Corporate ethics
The hierarchy plays a central role in the promotion of ethical values, in the first place by its own example, with emphasis on irreproachable, pondered action in decision taking, then for the active commitment with which best practices are encouraged.
At Millennium bcp we view work not as a company depends on everything that Teaching in ethics is provided in mere production factor but as a mean of defines the people that work for it and management schools, forums of reflection development and self-realisation.We the values that guide its business. are set up and codes of conduct and consider that each person has his own Identification and proper understanding of corporate governance rules are dignity and, having liberty and conscience, a body of common values and a way of established. is responsible for his acts. acting shared by all acquire special importance when the refoundation of the At Millennium bcp, in addition to While individual ethics are related to the culture of a company is under way. voluntary implementation of the guidelines character of the person and with his The employees’ ethical vision and the issued by the regulators, there is a code of freedom of action (and with reference to company’s own attitude in the face of professional conduct reflecting good certain rules of conduct), the ethics of a ethical principles is increasingly important. practice, and specific training modules deal with ethics, and these are transverse to the entire organisation.
We believe that ethical behaviour should be encouraged and any action going against fundamental principles should be tackled.The hierarchy has a fundamental role to play in the promotion of ethical values: in the first place, particularly through its example, with emphasis on upstanding, pondered action in any decision-taking process; then by the active commitment with which best practices are encouraged.
In addition to constituting an imperative, generalisation of individual ethical practices, with a concern for justice, equity and strict compliance with the rules, duties and commitments, stimulates employee motivation, contributes decisively to customer confidence, and allows the 50 company to establish a sustainable reputation within its surroundings. Social Responsibility [The Company, a society]
Corporate governance
One of the concerns of the Millennium bcp Board is to be at the forefront of good practice in the matter of corporate governance, to the extent that it contributes to the transparency of management practices and corporate decision processes, and simplifies access by investors and analysts to information on management and to the financial statements.
Millennium bcp position of Customer Ombudsman has and the disposal of financial assets), and corporate governance been instituted and two new internal the Technologies Committee Monitoring best practices is an ongoing, control bodies created; the Compliance (to analyse and approve investments, progressive process that contributes Officer (with responsibilities in validating hiring and divestments in respect of the to self-demand and proper evaluation the conformity of policies, rules, overall management of technological of companies; it encourages the internal regulations, procedures and other resources), the Audit and Security balance of skills and responsibilities, management practices with applicable Committee (to look after physical and as well as constant evaluation; legislation and regulations) and the systems security), the Risk Committee it creates new mechanisms Risk Officer (responsible for the (to manage and control the general level of internal communication and development and implementation of the risk assumed by the Group) and simplifies both external communication of risk-management processes). the Money Laundering Prevention and transparency towards the market, Committee (the purpose of which is to thanks to the institution of new In this sense the Board of Directors prevent use of the Group in money parameters of comparison with has also appointed nine committees, laundering operations, ensuring other companies. All this contributes the specific object of the first of these compliance with current legal and to optimisation of performance, and being Monitoring Corporate Governance regulatory rules). the Bank sees it as an important and supervising Group compliance mean in its search for excellence and with legal, regulatory and statutory Transparency and provision in the sustainable development provisions concerning the management of information of the company. of the company, as well as the discussion A central concern of Millennium bcp is and approval of initiatives designed to provide information to its customers, The Bank has internal rules such as its to introduce or alter procedures shareholders, employees, competitors, Professional Code of Practice, which in this field.The remaining committees regulators and suppliers, in which it has includes rules governing its working and are the Social Relations Committee already taken a vast number of steps. the individual conduct of each Group (to develop the Group’s relations The Annual Report and Accounts employee in exercising his duties.This with its social partners), the Vocational provides an analysis of the profitability of code can be consulted via the Bank’s Training and Development Committee the various business areas. Internet site (www.millenniumbcp.pt). (to monitor and propose measures Also available are the Bank’s internal connected with the training and The Report on Corporate Governance regulations and the Board of Directors’ with development of employee careers), discloses the company management regulations, as well as a detailed report the Asset and Liability Committee practices adopted, being one of the on corporate governance. (to manage the market and liquidity concerns of the Millennium bcp Board to risks of the Bank and of the Group), ensure strict compliance with In order to ensure implementation of the Financial Investments Committee recommendations and good practices 51 best corporate governance practices, the (to appraise and approve investments relating to corporate governance. To add value The principal goal of Millennium bcp is to increase its value – the value to be distributed among the shareholders, but also among the customers, the employees and the community, by means of the economic activity that is generated.
In the long-term, the Millennium bcp profits will also reflect its ethical conduct and the responsibility for its practices. Throughout its history, and with very significant results, Millennium bcp has already promoted a number of business activities that fall within the scope of socially responsible action. By way of example, I would mention the experiment carried out in Mozambique, involving the creation of the bank specialised in micro-credit, encouraging access to capital by those who were excluded under the normal mechanisms. Naturally, there is now a vast area of new products that can be directly related with investments having a very positive social and environmental impact, for which there is a whole market still to be exploited. In a proper, innovative combination of its business activities, which now extend to various parts of the globe, Millennium bcp is taking its own steps towards sustainability, in line with the path that some leading national institutions have already taken. This vision of the role of the institution and of the creation of value will allow Millennium bcp to plan its business strategy, bearing in mind at all times new market challenges, while projecting its results from a standpoint of positive profitability in the medium and long term. Christopher de Beck Vice-chairman of the Board of Directors Social Responsibility [The Company, a society]
Investor relations
Social Responsibility: sustainability practices and strategies – the means that it is increasingly viewed as the investor’s point of view demands of a number of investors criteria of importance to investment in This subject and its main concepts date involved in the management of millions in companies.The relevance of the subject back to the 1970s, but recent events and Socially Responsible Investment (SRI), is now such that initiatives have started corporate scandals, as well for the inclusion allied to the pressure brought about by to proliferate within the financial markets of corporate responsibility on the agenda customers/consumers having easy access that centre their attention on social of several international and European to information on the organisation responsibility and on corporate organisations, have urged the present and addressees of a very large flow sustainability: relevance of corporate practices within the of information produced by the media context of the sustainable development. in general. – social responsibility and sustainability indexes reflecting the growing The growing degree of perception of The socially responsible investor – presence of the social responsibility corporate vulnerability to the costs and institutional investors (pension funds, factor in investment decisions (the more damage to reputation caused by investment funds) and private investors relevant Social Responsibility indexes infringement of the law or of principles – approach a company from a at global level are the Dow Jones established with regard to social and three-dimensional standpoint Sustainability and the FTSE4Good); environmentally responsible practices (economic-financial, social and constitutes what might be called the environmental) seeking access to a in- – investment funds dedicated to catalysing principle of the urgency and depth picture of the business carried on companies that meet certain social importance of the issue of Corporate and awareness of all the risks and responsibility criteria and investment Sustainability in this day and age. opportunities underlying the company’s funds directed solely at companies in a business. Importance is given to the certain area of social responsibility The pressure now exercised underwent analysis of intangible factors, in which such as the environmental area, in natural evolution and, in the early 1990s, good or bad management is susceptible which alternative energy investment Europe, the USA and Japan had differing of creating or destroying value, funds are included; standards with regard to the reasons respectively: management quality, brand underlying company decisions/ options value, employee and customer loyalty, – research in the area of social to publish information concerning their ability to recruit and attract talent, etc. responsibility and sustainability and Corporate Responsibility practices.These review of the performance of socially standards gravitate around the The possibility of reducing the risk responsible investment funds (it can be importance of the compliance factor, inherent to the investment in a given expected that the social responsibility the consumer and shareholder pressure asset is therefore one of the main component will come to be (in Japan in particular), the reputational reasons for the importance given to the increasingly incorporated in analyses of management (USA, Europe) and the subject of corporate sustainability among companies); and creation of competitive advantages investors. (Sustainability, INSEAD Report, 1993). – company social responsibility and
The unquestionable importance sustainability reports with a view to 53 Nowadays there is a predominant reason of Social Responsibility in the field demonstrating their practices and for companies’ decisions to publish their of investment and financial markets entering into commitments in this area. Social Responsibility [The Company, a society]
Growth of the Number of SRI Funds SRI Fund Typology in Europe (including United Kingdom) June 2003 (accumulated, June 2003)
(J) Fixed Income 313 17.1% 280
159 Equities 65.5%
54 Balanced 4 20 17.4% 1980-4 1985-9 1990-4 1995-9 2000-1 2002-3
Source: Avanzi SRI Research/Sri Group, 2003 Source: Avanzi SRI Research/Sri Group, 2003
Communication with Investors Within the scope of its communications Among these events, attention is drawn, The aim of investor relations management policy and complementing the publication for their relevance to the detailed is to help the company to secure and discussion of the results of the Bank’s information provided, to the road shows appropriate recognition and credibility business (quarterly presentations and individual meetings that are organised in the light of its capabilities and accompanied by conferences and for institutional investors, the promotion long-term prospects, so that it can comply Webcasting services), the Investor of the Investor Day – an event that with its responsibility towards investors, Relations Division regularly organises a provides investors with a in-depth allowing them to quantify, in a fair and number of activities and events for the overview of the business and access to reasonable manner, the true value of the investor community in the various information on the strategic objectives of company. Millennium bcp Investor financial markets, taking part in the Bank’s management – and Relations Division provides this interface conferences and organising forums for the participation in conferences organised by between management and the investor discussion and clarification of the financial the leading international investment community by meeting the legal indicators and the long-term strategy. banking institutions. obligations imposed by the authorities, and through ongoing commitment to active communication with investors and through identification of their needs and expectations. Main Millennium bcp events directed at investors and shareholders
The Investor Relations Division is • Earnings Presentation (quarterly) responsible for ensuring that the capital market regularly receives all information • Publication of the Report & Accounts (half yearly) concerning events, relevant facts, financial results and other news • Letters sent by the chairman of the Board of Directors to Shareholders (quarterly) concerning the Bank’s activity, as well • Annual General Meeting as for the provision of information within the scope of questions or requests made • Investor Day (yearly) by investors and other parties involved 54 in the capital market, both Portuguese • Meetings with Investors, including roadshows (more than 100 each year). and foreigners. Social Responsibility [The Company, a society]
Investor Web Page Included in the Millennium bcp site, the Investor web page is essentially directed at investors, naturally including most of the Bank’s stakeholders.
Here, detailed information is provided on Millennium bcp, particularly financial information, information on BCP shares, Corporate Governance and Corporate Social Responsibility. Through the Investor Page, one can access earnings presentations, the Annual Report & Accounts, financial releases, press releases, Millennium bcp articles of association, corporate offices, shareholder structure and other relevant information concerning the Bank.
Shareholders July 2004(*)
Type of investor % Share Capital Major Investors % Share Capital
Banco Intesa Group 7.43% Eureko Group 5.32% Reference Investors 48.63% EDP Participações SGPS 4.36% José de Mello SGPS 3.28% Institutional & Other Investors 29.39% Bansabadell Holding NV 3.12% Friends Provident Group 2.99% Caixa Geral de Depósitos Group 2.63% Private Investors 21.98% Teixeira Duarte Group 2.50% Dimitrios Contominas 2.21%
Total 100.00% Total 33.84%
Geographic Breakdown of the Share Capital in 2003
Portugal Continental United Kingdom USA Number of Shares % Share Capital Europe and Ireland Identified
63.00% 12.00% 11.00% 12.50% 3,208,539,815 98.50% 55
(*) Investor Relations Division Estimates based on: Citigate Financial Intelligence Study, 2003/2004, after reduction of CGD Group holding. Social Responsibility [The Company, a society]
Millennium bcp Organisations that it supports or in which it plays an active role
Organisations directly related Câmara de Comércio Portugal-Israel with the Financial Sector Câmara de Comércio Portugal-Moçambique Associação Portuguesa de Analistas Financeiros Cámara Hispano-Portuguesa de Comércio y Indústria en España Associação Portuguesa de Bancos Camera di Commercio Italiana per il Portogallo Association for the Monetary Union of Europe Portugal-U.S. Chamber of Commerce European Financial Management and Marketing Association SIBS – Sociedade Interbancária de Serviços, S.A. Organisations related with Sustainability Unicre – Cartão Internacional de Crédito, S.A. and with Corporate Social Responsibility BCSD Portugal – Business Council on Sustainable Development Business Associations and Chambers GRI – Global Reporting Initiative of Commerce and/or Industry RSE Portugal – Associação Portuguesa para a Resp. Social da Empresa Associação Comercial do Porto Associação Empresarial de Portugal Other Organisations related with the company Associação Industrial do Minho Associação de Estudos Superiores de Empresa Associação Industrial Portuguesa Associação Portuguesa para a Qualidade Câmara de Comércio Americana em Portugal Associação Portuguesa para o Desenvolvimento das Comunicações Câmara de Comércio e Indústria Árabe-Portuguesa Associação Portuguesa para o Desenv. Económico e a Cooperação Câmara de Comércio e Indústria Luso-Alemã Fórum de Administradores de Empresas Câmara de Comércio e Indústria Luso-Brasileira Fórum para a Competitividade Câmara de Comércio e Indústria Luso-Chinesa Câmara de Comércio e Indústria Luso-Espanhola Other organisations of social or cultural relevance Câmara de Comércio e Indústria Luso-Francesa Associação de Amigos do Coliseu do Porto Câmara de Comércio e Indústria Luso-Japonesa Associação dos Bombeiros Voluntários de Lisboa Câmara de Comércio e Indústria Luso-Marroquina Associação Humanitária dos Bombeiros Voluntários do Porto Câmara de Comércio e Indústria Luso-Sul Afriacana Centro Nacional de Cultura Câmara de Comércio e Indústria Portugal-Angola Cruz Vermelha Portuguesa Câmara de Comércio e Indústria Portugal-Argélia Fundação Arpad Szenes-Vieira da Silva Câmara de Comércio e Indústria Portuguesa – Ass. Comercial de Lisboa Fundação da Casa da Cultura da Língua Portuguesa Câmara de Comércio e Indústria Suíça em Portugal Fundação das Descobertas – Centro Cultural de Belém Câmara de Comércio Internacional – Delegação Nacional Portuguesa Fundação de Serralves Câmara de Comércio Luso-Belga-Luxemburguesa Fundação Dr. António Cupertino de Miranda Câmara de Comércio Luso-Britânica Fundação Eng. António de Almeida Câmara de Comércio Luso-Sueca Fundação Luso-Africana para a Cultura Câmara de Comércio Portugal-Holanda O Lar do Comércio
56 Social Responsibility [The Company, a society]
Employees
To be an employee at Millennium bcp is to work together. People are not in the shade, they are enhanced and enhance themselves – and the result is always greater than the mere sum of the parts.
At Millennium bcp we recognise that work cannot be dissociated from the development of the company and from the socio-cultural and economic progress of the community. At individual level, work is not restricted to securing the means of subsistence for the individual and his family through a salary: human work must be enhanced, from a twofold perspective, which also includes its importance to the enhancement and fulfilment of the human being. In every circumstance, the purpose of work is Man himself. And the company, as Millennium bcp employees a project, entity and place where work 2003 takes place, cannot ignore this.The company, in the first place, is a team of Total Employees 15,700 people united by common goals, and work Average age 40 must be understood as an element drawing people closer and uniting them. % for more than 10 years with the Group 59% They must all take part in a task that % Men 62% belongs to them all, and they must bear in mind at all times the value of collective, % Women 38% solidary effort, without ever forgetting % having a degree 29% individual merit and performance.To be an employee at Millennium bcp is to work Mobility (n.º of internal rotations) 3,605 together. People do not stand in the shade, Participants in training courses 4,878 they are enhanced – and enhance themselves, and the result is always greater Training hours 338,097 than the simple sum of the parts.
57 From a public speech by Mr. Jorge Jardim Source: 2003 Social Balance Sheet (Banco Comercial Português Group). Gonçalves (Oporto, October 7, 1977) Note: the data refer to domestic business (banking, insurance and services).
Social Responsibility [The Company, a society]
Recruiting and Selection
The Recruiting and Selection Division The working model that has been on re-engineering the recruiting and reports directly to the Board of Directors adopted is a result of an ongoing process selection process and on the use and is responsible for supporting of adaptation to the needs of the Bank. of adequate applications, as well as employee recruiting, in conjunction The following are the more important on the acquisition of services specific with management that plays an active aspects: to this process – particularly psychological role in detailing and justifying vacancies evaluation services performed by to be filled and in taking decisions 1. involvement of top management; specialised centres – as an alternative regarding recruiting. to in-house procedures. 2. outsourcing; Additionally, the Recruiting and Selection Segregation of controls is ensured Division co-ordinates and supports 3. constant search for efficiency in by dividing responsibilities between employee reallocation within the operational processes; management (involved at decision level) framework of the general process and the Recruiting and Selection of restructuring of the Millennium bcp 4. segregation of controls; and Division (which carries out operational Group, while stimulating mobility, and support activities). Segregation informing both employees and 5. operational audit of Human Resources of controls is further strengthened management of vacancies and management procedures. by the fact that the management staff personnel availability, chiefly based on involved in the recruiting interview the following: Involvement of management is supported and in issuing the final opinion (known by the development of procedures as the Selection Jury) is independent a) the aspirations of the employees; based on survey of needs and on of the management of the Organic planning of admissions, and on selection Unit for which the employee is required. b) the employees made available by the techniques – with emphasis on the In specific terms responsibilities in the divisions; and selection interviews. process of recruiting, selection and admission of new employees are c) the decisions and recommendations The search for efficiency is based segregated as follows: of the Vocational Training and Development Committees, thus filling vacancies or simplifying Quantitative and qualitative Hierarchy of the organic diagnosis of needs units with needs employee circulation through the various areas. Consolidation of needs Recruiting and Selection Division
The Recruiting and Selection Division Pre-selection (curricular and pre-interview) Recruiting and Selection Division implements the actions (both through Psychological evaluation External specialised centres internal analysis and in co-operation with the rest of the company’s Selection Jury interview Senior Management organisational structure) necessary to implementation of the directives Admission decision Board of Directors issued by the Board of Directors Management of the recruiting process Recruiting and Selection Division and set out in policies or general guidelines, resulting from the working needs of the company The operational audit ensures that the directives issued by the Board of Directors are and demands of a legal and contractual properly complied with, that deviations are identified and that proposals for ongoing 59 nature. improvement are drawn up. Social Responsibility [The Company, a society]
evaluation in use at the Bank; – external consultant quality control; – management of the document circuit involving external consultants (indication of candidates to be convened, tests, reception of reports, control of current processes); – communication of results to the candidates.
Final Selection Jury Interview – drawing up the schedule and convening the Selection Juries; – management of the document circuit with the members of the Selection Juries; – convening candidates.
Decision – submission of the candidature processes to the Board for final decision; – communication of results to the candidates.
Assignment – assignment of employees taken on to the specific Organic Units in accordance with the approved vacancies; The activity of the Recruiting either documentary or via the – setting the admission date and the and Selection Division (RSD) Internet; start of Integration Training. takes place: – recording and maintaining applications in the database. Planning and control of information Throughout the recruiting selection processing and maintenance process, which involves seven distinct Pre-selection – consolidation of the requirements segments. – preliminary filtering of curricula of the hierarchy, previously ratified (including clarification of incidents by the Board of Directors directly These seven segments involve the and confirmation of references); or by delegation; following activities: – selection interview conducted – control of the execution of the plan by the RSD; and objectives of the RSD; Collecting applications – communication of results to the – control of vacancy filling; – promoting and arranging external candidates. – database documentation of the applications (for example, contacts results of the various stages of with universities with the involvement Psychological evaluation the process; of the Young Customers Division); – hiring external consultants; – management information for – acceptance of spontaneous – adjustment of the evaluation processes management and for the Board of (not requested) applications, to the process of counselling and Directors.
Arranging Psychological Pre-selection Final interview Decision Assignment applications evaluation 60 Process Planning and Control / Maintenance of the Information / Database Social Responsibility [The Company, a society]
Some figures about the activity in 2003 and 2004
(a) (a) Quantities 2003 2004 Placement with 2003 2004 Retail 162 39 Curricula recorded 6,012 6,047(b) Contact Centre 15 37 Group interviews 867 404 Insurance 48 11 Other units 34 14 Individual interviews 116 80 Total 259 101 Total interviews 983 484
Tests 576 283 Contractual relationship 2003 2004 (a)
Candidates for the Jury 435 193 Permanent 14 5 Fixed term 82 21 Jury approve rate 84% 88% Vocational training course 163 75 Jury sessions undertaken 76 31 Total 259 101
Admissions 259 101
Average time (days) Personnel needs identified in 2004(a): 200 (b) to fill a vacancy 35 46,49 Filled by:
Communications made 5,683 4,587 External recruiting 74 Mobility 43 a) Up to 20/9/2004 b) Of which 4,832 via the Internet, automatically acknowledged by message triggered in the wake of the application. a) Up to 20/9/2004
In reassigning available to be reassigned; triangulates with in conjunction with management, the employees other employees undergoing mobility dates of presentation. process at their own initiative or In reassigning available employees, by recommendation of their superiors; Movements finalised the Recruiting and Selection Division determines which units have positions receives information of available suited to the profile of the employee Destination 2003 2004 * personnel from management and and, in this case, encourages the Retail 65 43 respective project teams; records superiors to promote rotation, steps taken and respective conclusions or ‘triangulation’, with employees Insurance 17 11 in the database; determines the requesting transfer or who are ripe Other 81 124 respective profiles by consulting for rotation; submitting the results Total 163 178 curricular data and their superiors of this process to the Board for and/or by interviews with the employees final decision; and scheduling, * Up to September 20, 2004. 61 Social Responsibility [The Company, a society]
An integrated system Management of people
At Millennium bcp excellence in people management has been a concern Integrated people management system since the foundation of the Bank. what It is viewed as one of the pillars what skills? new functions? of the strategy and as a basis of competitiveness. Millennium bcp has always been justly renowned for the unconventional choices it has made, and continues to make, in respect coaching, Performance Career what of people management functions training Management Management status? such as training, counselling and what evaluation, functional mobility and reward career management, and their combination project? in a system of organisational learning, evaluation (1) what reward? of performance management and career & counselling (2) management.
62 Social Responsibility [The Company, a society]
The central role of performance evaluation and guidance The Counselling and Evaluation Process (CEP) is the essence of the people management system employed at Millennium bcp. In the wake of the improvements that have recently been introduced, the CEP rests on two fundamental pillars: a) a comparison between the skills of each employee and a skill plan determined for the job (evaluation or diagnosis stage); b) drawing up a performance improvement plan designed to correct any shortcomings or to project the employee to a new level of performance or even to a new job (counselling stage).
The CEP involves two formal interviews each year, between the employee and his direct superiors.This means an overall employees in accordance with the the cases and involve key indicators total of about 20,000 interviews, culture and values of the organisation, designed to measure the performance involving about 50,000 man-hours and the specific skills that differ from job of each employee over which there per year. to job. is effective control.
The process lends a great emphasis The objectives and characteristics A strategic training concept to two central aspects: first, the CEP of the CEP mean that it is a true engine Employee training is an instrument does not come to an end after the of development, allowing opportunities fundamental to optimisation of the evaluation stage and meets its objectives and training requirements to be human capital of the organisation and, only if it results in performance determined at every level – from the from our standpoint, one of the variables improvement guidelines, with clearly employee to the entire Group, including that determine their capacity to develop defined objectives and activities.This the organic unit or business area. on a sustained basis. For this to happen, improvement plan is established however, the training policy and its by common agreement between Incentives System programmes must make a positive the employees and their seniors, The Incentives System for Millennium bcp contribution not only to reconciling the and involves a mutual commitment, employees (which involves profit-sharing, expectations of the stakeholders – more in some way binding them as though following approval by the General value for customers and shareholders, by contract. Meeting) is designed to strengthen the greater professional development and alignment of the activity of the entire personal growth opportunities for The CEP is therefore based on staff, leading to sustained generation of employees – but also to ensuring their a skill-oriented performance management profits. It is a complete system that lasting satisfaction. concept that required the definition includes rules and variables not only for of skill profiles for each function. the Retail Banking commercial teams but This imperative of sustainability also also for the other networks and units implies weighing and reconciling training At this time the Group has about that directly or indirectly contribute to requirements at different times to ensure seventy ‘typical functions’, each with the performance of the commercial that short-term pressures do not networks, particularly the Central compromise long-term initiatives, and its own skill profile, organised as two 63 blocks of general skills that reflect Services units.The rules and variables that focus on the long-term does not the expected conduct of most to be applied differ in accordance with mean lost opportunities. Social Responsibility [The Company, a society]
Training Programmes
Strategic: Specialised: Strategic Strategic Powerful impact on business For homogeneous groups with or on a large group common functions or business Specialised Transverse of functions or constituting an overall need for the Group
Operational: Transverse: To develop specific skills Operational Operational For heterogeneous groups Specialised Transverse having differing functions, origins, levels of responsibility...
Strategic training matrix
In Millennium bcp training, reconciliation directed at the acquisition of skills of an service and sales for the Retail Network) of the various time schedules is simplified operational nature required of all and training in quality and management by the ‘strategic training matrix’ – a employees: proficiency in the use of basic of operations under development for concept developed at the Bank that software, sundry procedures, etc. Central Services units. classifies training programmes in accordance with the impact on the The upper left quadrant (strategic- Lastly, the lower left quadrant organisation and the size of their target -specialised) includes flagship (strategic-operational) includes public. programmes at the level of the major programmes directed at the acquisition business areas and processes. In general of specific operational skills The upper right quadrant (strategic- they are directed at all employees of for a certain business area or process, -transverse) includes flagship these areas, organised into homogeneous such as the use of dedicated programmes determined by long-term functional groups and involving the software and operatives and specific strategies that are proposed for successive levels of the respective procedures. multidisciplinary groups comprising management in the training participants from every business area (top-down cascade). It can easily be seen that the time (an endeavour is often made to optimise scale of these programmes varies this mix). For their characteristics, This category includes the ‘Path to in accordance with the quadrant these programmes are particularly Excellence’ (training in attendance, to which they belong: designed to match the attitudes and professional conduct with the values, requirements and demands of the Bank, regardless of the specific job carried Training Programmes out by each employee from time to time. long cycle Strategic Strategic Examples of programmes of this type Specialised Transverse include the entire range of the Management Staff Training Plan, Integration Training (welcoming new employees and integration of employees of companies that are acquired) and Operational Operational Training in English. Specialised Transverse short cycle medium cycle 64 The lower right quadrant (operational- -transverse) includes programmes Strategic matrix and time scale Social Responsibility [The Company, a society]
- the strategic transverse programmes strategic organisational necessary training develop abilities that can be exercised in objectives capabilities required skills programmes long cycles, since they meet stable, lasting
needs; 1. Organic growth employee and greater satisfaction management INSEAD Seminar profitability in and motivation and leadership - the strategic specialised programmes the core business PADE, PDE (AESE), excellence in sales PDO, PGQD, PCO also require time to fully bear fruit; and service ‘10 Millennium bcp rules’ ‘moments of truth’ people management nevertheless, to the extent that the personalised and leadership management 2. Superiority in "On the path to Excellence" processes require frequent adjustments, (portfolio sales, customer sales and services customers) (at the Retail Network) these cycles are necessarily shorter than in the core business and portfolio management the foregoing ones; initiation courses for effective sales sales planning assistants, customer management and implementation managers and recently- -appointed managers - the transverse operational programmes control over 3. Incessant search products are also directed at fairly stable skills; for greater efficiency, financial on-line training and quality products (e-learning): products, lower costs of operations and and better risks and operations operations, procedures, tools
- the specialised operational programmes improvement management, project management of processes process, and process/operations must react with agility to alterations and and productivity project and management courses 4. Alignment of best quality skills evolution of tools and procedures. practices at international level permanent interchange circulation and adaptation with Bank Millennium, of best practices and NovaBank, etc. Planning the training core skills learning English Millennium bcp’s training plan has its banking game origins in the report that the Training and 5. Refoundation communication and and strengthening knowledge of the Group integration training, Career Development Division, in its of the corporate culture new programme superseding integration capacity as the skill training centre, training (in 2005) presents to the Training and Professional Development Committee.The plan is prepared in keeping with two central Skill Relations Technical concerns: Management and Interpersonal and Operational Skills Skills
(a) ensuring that it is subordinated to Organisational capacities and skills to be developed Millennium bcp’s strategy, since the training courses make sense only if they contribute fairly directly to the Subordination of the training plan - the skills required for employees helping major business objectives; and to the strategy is clear to see in the the foregoing serving the customers. diagram, which shows the skills, and, based (b) that it contribute to the sustainability on them, the organisational capabilities For the first category, the focus is on the of the business, ensuring a balanced, that the various training programmes training courses in attendance, service harmonious mix of the programmes seek to develop to achieve the strategic and sales – the strategic/specialised of the various quadrants of the objectives determined by senior quadrant – that have been organised strategic matrix, so that the management. on a regular basis since 1996 for the investment in development and the various brand networks and, in 2004, accumulation of key skills takes place Although the diagram might seem for the Millennium network (retail). over differing time horizons. complex, in its essence it provides These programmes are designed to a very simple message: at Millennium bcp help to instil a common ‘style’ at every This plan includes the training initiatives all organizational capabilities must be one of some one thousand branches called for by the various Organic Units directed at creating value for the of the network.They include several and it endeavours to harmonise them to customer; and all skills must belong initiatives complementary to the hands-on eliminate redundancies and to make full to one of two categories: cascade training, such as on-line use of any synergies, on the one hand, and and television training, visits by ‘mystery 65 to ensure a compatible timeframe, on the - the skills required for employees serving customers’ and intense, constant other. the customers directly; and animation. Social Responsibility [The Company, a society]
This training effort directed at the commercial network is accompanied Senior Management by the rearguard units through training • Interpreting and executing the strategy • Contributing to its redefinition initiatives directed at its own specific • Maintaining and developing competitiveness
needs and, in particular, at its ability not 1 Level • Anticipating and directing change • Integrating sectorial management to lose sight of the fact that all its activities • Managing careers and ensuring the sustainability of the human capital have an impact on the service provided to the end customer. Operational Managers • Managing in a sectorial, specialised manner • Aligning sectorial management with the strategy Skills in financial products and in • Articulating inter-functional relations the operatives that support then – shared 2 Level • Taking part in the management of change • Developing talents and managing careers by the commercial network and by the back offices units – are largely undertaken through e-learning, which Other Managers • Managing teams, areas and projects is an effective and very efficient • Putting management skills into operation
distribution channel for these training 3 Level • Optimising the performance of the unit • Managing the performance of the teams and persons contents.The Millennium bcp range of on-line training on offer now involves over Departmental Heads twenty items and is growing every month. • Managing processes and operations • Managing production instruments
Level 4 Level • Managing small teams At another level, though supporting • Motivating, negotiating, influencing and teaching the foregoing, mention is made of the training programmes in people Training Management and Departmental Heads – schedule of training objectives management, directed at management. The aim of these programmes is to improve leadership and management concerns of the training plans in recent fast evolving to a multi-domestic relations, to strengthen the strategic years. At this time, Millennium bcp offers architecture having major operations in alignment and to fight against employee its management a set of programmes with other countries; and discouragement. As in the matter differing, staggered objectives, directed of customer relations, these programmes at every management rung: operational - the Academic Qualification Incentive endeavour to help managers to dominate departmental heads; managers in general Programme, designed to encourage coaching techniques from a standpoint (with a focus on the more junior levels), employees of merit and adequate of ongoing development of their teams operational managers, senior management potential to finalise degrees and post- and ‘to do well’ in the ‘moments of truth’ and directors. graduate courses of interest to their -– a limited number of interpersonal careers and to the business of the Bank. ‘transactions’ that constitute the vast In addition to those already mentioned, About 170 employees have already majority of contacts between them one must not forget the ‘basic’ initiatives, qualified for this programme in the and their employees: to communicate aimed at strengthening the corporate 2004-05 school year, involving objectives, to welcome a new employee, culture, the internal communication scholarships covering about 57% to praise good performance and capacity and the group spirit, such as: of the tuition fees and training costs. to correct in a positive manner any performance not quite as good, - integration Training (now directed at These are the challenges that training to handle a counselling and evaluation new staff, every employee now in is designed to help to overcome: a focus interview, etc. service having taken this course); on the customer throughout the entire value chain, improvement of technical For its very nature and impact both direct - the Banking Game; and operational skills, orientation and indirect on all employees, training towards development, fighting 66 department heads and every level of - learning English, mastery of which is an demotivation and strengthening management has been one of the central increasingly strategic skill in a bank that is the esprit de corps. Social Responsibility [The Company, a society]
HistoricHistoric job job mobility mobility
47.2%
5.773 38.7% 35.5% average = 30.3% 4.873
4.236 24.3% 4.057 21.6% 22.5% 3.547 3.605
1998 1999 2000 2001 2002 2003 1998 1999 2000 2001 2002 2003
Job mobility Job mobility is very high, clearly higher that also causes the dissemination of good The importance of the various time what is customary in organisations of practices and improved interdepartmental horizons implicit in the strategic matrix comparable dimension.The annual communication – increasing what might can be better understood when weighed mobility rate over the past 6 years stands be called ‘organisational empathy’, simply within the framework of other human at 30.3%. as a result of the increase of the number capital development practices – in of people that have ‘experience on both particular, job mobility as an instrument in Taking the staff evolution and movement sides’ and are able to understand a career management and in ongoing into account, it can be concluded that job problem from various perspectives. improvement of performance. mobility involved over 26,000 employees Job mobility at Millennium bcp has been a over this period and that, especially On the other hand, it is clear that job highly regarded practice since the between 2000 and 2002, for every 4 mobility is also a source of entropy, for foundation of the Bank, to the extent that employees there were 5 changes of job it is inevitable that employees recently it stands out as a conspicuous cultural (that is, each employee rotated and rotated to a new position face an initial good. average of 1.25 times. period of lower-than-required performance. The job mobility policy implemented by Millennium bcp is based on the conviction The option for mobility as an instrument that exposure to the challenge posed by of personal development and of career Training Data (2003) a new job is a very powerful stimulus to management therefore leads to learning and to development. Inversely, a short-term sacrifice of productivity remaining in the same job for too long is but in the long term there is a sustainable Cost (in euros) 2,244,530 a source of accommodation and of dynamic of development and updating saturation, leading to a slowdown of the of skills and organisational capabilities. Participants 4,878 employees’ development and even to At Millennium bcp we believe that this their stagnation. sacrifice is acceptable and that it Hours 338,097 can be managed in a controlled 67 Additionally, at organisational level, mobility manner, the gains largely compensating between jobs and between organic units the losses. Social Responsibility [The Company, a society]
Statement of Earnings pecuniary benefits, depending on whether and Fringe Benefits they were earned the previous year or Within the scope of a transparent, are to be earned in the future, perhaps responsible employee management policy, even during retirement. Millennium bcp provides a personalised document every year, detailing the By enhancing the human capital, the remuneration and fringe benefits of the people management and development employee in question and of his/her family, policies and practices – recruiting, such as medical assistance, and retirement performance management, mobility – can and death benefits, including those act as powerful levers in their sustainable bonuses that are freely provided development. by the Bank. In the final analysis, however, this The Statement of Earnings and Fringe sustainability depends on the intentions Benefits provides details of the conditions of these people and on the way in which governing the granting of benefits and a they view their relationship with the real or estimated quantification of any company.
68 Social Responsibility [The Company, a society]
Medical Services the health of about 15,000 employees The Medical Services act as inter-company in service in the areas of Curative services, providing services to all the Medicine, Occupational Medicine companies within the sphere of and Hygiene & Safety at Work. Millennium bcp.They directly monitor They monitor some 13,000 retired Facilities employees in Preventive Medicine following their annual check-up, Lisbon Edifício D. Luís (Serviços Centrais) – Rua do Instituto Industrial, n.º 7 – 6.º Piso. in diagnosis and in counselling Taguspark Edifício 6, Piso Intermédio. and orientation. Oporto Rua do Agramonte, n.º 34. Faro Rua Ivens, n.º 1, 1.º Piso. Lending continuity to the Coimbra Clínica da Sofia – Rua da Sofia, 158 – 2.º Millennium bcp health philosophy Madeira Clínica da Sé – Rua das Murças, 41 – 2.º in providing support to all clinical Azores Clínica do Bom Jesus – Av. Príncipe do Mónaco – Ponta Delgada – Ilha de S. Miguel cases involving serious illness of family members of employees both in service Clinical Team and retired, the Clinical Services are involved in their monitoring and 3 Full-time physicians orientation. 17 Part-time physicians Of the 20 physicians, 12 are engaged in Occupational Medicine and 8 in Curative Medicine. They are also responsible for assessing 2 Psychologists/Welfare Workers medical requirements in more serious 5 Nurses cases requiring attention under 69 Administrative staff (15) the Navarra University Clinic Insurance, at Pamplona, in Spain. Social Responsibility [The Company, a society]
Curative Medicine Its main functions are: – to complement the medical assistance provided by Médis, SAMS, SAMS- Management, SAMS-SIB and the National Health Service, and it is often sought and used as a 1st line medical consultation and sometimes to help in cases of poor work by other health-care providers;
– to monitor all serious illnesses in conjunction with the employee’s health system, endeavouring to find the best clinical solution, making full use of the available resources;
– to accompany all serious clinical cases directed to clinical centres abroad with which there is a protocol, from assessment of the medical justification, to remote monitoring during the stay in hospital; Occupational Medicine Service The frequency is every year for employees – evaluation and issue of reports: This area is responsible for: over the age of 40 and every 2 years for on change of jobs in cases of – employee Check-ups; those aged less. clinical-professional non-adaptation; on Employee Life Assurance associated with – periodic Examinations, in which the The check-ups consist of: clinical history, mortgage loans and for social purposes; check-up reports are handed over and objective examination, electrocardiogram, and on the retirement of employees diagnoses, guidance and counselling are chest x-ray, sight test, hearing test, with serious illnesses who are unfit provided, with referrals to specialists spirometry observation, complete for work. as required; abdominal-renal echography, breast mammography, gynaecological – occasional Examinations to check examination, gynaecological echography, for fitness following long periods and prostate echography (over 50s). Note: the Group Insurance at the Navarra Clinic of sick leave; is one of the fringe benefits in terms of health provided to employees and their families, even if retired. – periodic monitoring/supervising of the Note:These check-ups are another fringe benefit in places of work and issuing Health & terms of employee health. Under the terms of Safety at Work reports. Decree-Law 109/2001, the examinations should be annual for employees over 50 and every 2 years for those under 50, and consist only of: clinical Curative Medicine/Consultations – the check-ups cover all Millennium bcp history, objective examination, simple laboratory employees. Both in service and retired. analyses, electrocardiogram and sight test. Year Total 2000 28,050 Check-ups Undertaken 2001 31,025 2002 33,026 Year Annual total In service Pensioners 2003 31,420 2002 10,752 9,639 1,113 2004* 14,720 2003 10,119 8,959 1,160 70 2004* 7,095 6,303 792 *To July * To July Social Responsibility [The Company, a society]
Hygiene & Safety at Work The aim is to provide the best possible working conditions, duly monitored. This involves periodic visits to the various premises and analyses designed to detect malfunction (for example, in the ergonomics of the spaces, in air quality, noise and lighting, and in project design and execution).
A specialised company on an outsourcing basis carries it out throughout the whole of the Bank.The Occupational Medicine service plays a role in monitoring these periodic inspections of the places of work and the respective reports, and it is responsible for calling attention to any malfunction encountered and for recommending solutions and corrective measures.
Occupational Medicine/Consultations
Year Total 2000 5,639 2001 8,735 2002 9,639 2003 8,959 2004* 6,303
* To July
HSW Visits Employee Health Plans of the other.This is a case not of an Millennium bcp employees are entitled to overlap of benefits but of extending Year Total a health plan under special conditions, access to the SAMS network and to the 2001 178 involving taking out health insurance under Médis services, increasing the options 2002 213 Médis management.This social benefit open to Group employees and their 2003 224 covers the spouse and dependent children families. 2004* 139 and continues in force following retirement. As a result of the foregoing, medical and * To July health-care services for Millennium bcp Additionally, the banking employees can employees are provided in the following Air-quality Analyses also enrol in the Medical-Social Assistance ways: Services (SAMS) managed by the Banking Year Total Industry Trade Unions. – network of services provided by 2003 5 Companhia de Seguros de Saúde, SA 2004* 10 On the other hand, following the signature (Médis); and of a protocol between Médis and SAMS, 71 * To July employees registered with one of the – network of services provided by the systems may also make use of the services National Health Service. Social Responsibility [The Company, a society]
Work Conditions The lighting, temperature, furniture and maintenance of the facilities provide work conditions determinant to the performance of each worker. If they are poorly implemented or used, they could cause anxiety, loss of concentration and, in some cases, irreversible health problems.
Thus, in this matter, Millennium bcp has acted in such a way as to suit every critical factor to the type of task performed at each place of work.
Interior of a building at Taguspark.
The importance of details
Lighting reflections of light on the monitors and on – air speed in work areas (at a height of The average lighting determined for office the work surface itself, contributing to 1.2 m) in winter shall be less than 0.15 areas (500 lux/m2) takes into account the greater visual comfort. m/s, with a temperature of between 20º reading and writing related activities usually and 23º; in summer, less than 0.25 m/s undertaken (at work stations, where the The selection of the colour temperature and temperatures between 23º and 26º; work essentially involves computer for the lamps is also important to monitors, the figure can be as low increasing visual comfort, and therefore the – the relative humidity shall be between as 300 lux/m2, or less). 3,000ºK colour tone has gradually been set 30% and 70%; and aside in favour of 4,000ºK, a whiter, cooler Another factor to take into account is that tone. – the flow of new air per user shall be 35 the uniformity of the lighting should ensure m3/h (also determined by the RCESE, a ratio between the maximum and average Air-conditioning Decree-Law 118/98, of May 7). figures (E min/E av.) of at least 1:1.5. The American ASHRAE and the Systematic accommodation by the eye to international ISO standards define as Thus, generally speaking, temperatures differing lighting levels when carrying out acceptable temperature conditions those of 20º and RH of 50% for the winter and tasks leads directly to tired vision and loss that, on average, proved a feeling of 24º and RH 50% for summer have been of efficiency. comfort for 80% of the people. For office determined as the levels for the environments, where the greater part of air-conditioning equipment, optimising Hiding the light sources is always the working time involves people sitting comfort parameters and energy savings. important when working with computers. down and in which clothing is typical to Nevertheless, the low efficiency of indirect the particular season, acceptable Cases of discomfort (which in extreme solutions allied to the need for greater environmental conditions are held to be: cases could lead to sickness) usually ceiling height in offices hinders its occur when some of the parameters widespread use.Thus, most offices use – the asymmetry of the radiant (temperature, relative humidity, direct light fittings, providing a luminance of temperature from windows or other air speed, average radiant temperature less than 200 cd/m2 for angles greater than cold vertical surface shall be less than and air quality) fail to lie within the 72 60º.These solutions endeavour to prevent 10º C; proper limits. The Millennium bcp Club prestige of the Millennium bcp as an institution; The aim of the Millennium bcp Club is to promote and develop activities of a 5. taking part in events of the commercial cultural, sports, recreational and social network, helping to create a positive nature for its members, contributing to impact on the customers; the prestige of the Bank. 6. focusing on activities that strengthen Millennium bcp Club is presently team spirit and mobilise a significant Portugal’s biggest socio-corporate club. number of members; Its main strategic guidelines are: 7. continuing to increase the number 1. encouraging every activity, attracting of members; and new members; 8. strengthening and lending dignity to the 2. creating value through the know-how, Millennium bcp image. organisation and resources provided; The Millennium bcp Club provides 3. encouraging partnerships with live communication with the employees commercial and other entities, with a as a whole through an attractive image. view to obtaining products and services For the purpose, the Millennium bcp under good conditions for the Club has issued a membership card members; and created a Club site – www.clubemillenniumbcp.pt – 4. providing transparent administrative containing an agenda, news of events management, compatible with the and a guide of benefits provided. 73 Social Responsibility [The Company, a society]
Activities
500 events were organised during 2003, involving about 27,000 participants
Sports Events Cultural & Recreational Handball Motorcycling Portuguese Guitar, Spanish Guitar and Violin Athletics Swimming – Free Waters School Classic Cars Orientation Exhibitions Adventure Angling Health Clubs Ballet Squash Choir Group Basketball Tennis Ethnographic Group Billiards/Pool Table tennis Thousand Strings Group Bowling Clay-pigeon shooting Leisure Travel and Free Time Hiking Marksmanship Canoeing Off-road rallies Guided Visits Football Triathlon Yoga Footsal Sailing Gymnastics Volleyball Golf Chess Karting
Main Sports Event Results
Footsal The Club team was again the champion of the 28th National Interbank Tournament.The same team won the 15th Silver Ball Tournament organised by Caixa Geral de Depósitos. Football The Club team became champion of the Palma de Veiga Tournament and, for the first time, reached the 1st stage of the INATEL Championship – 1st Division. Karting The official Club team came 2nd in the 1st National Resistance Trophy organised in Portugal under the aegis of the Portuguese Motoring and Karting Federation. Angling The Club team, comprising António Marcelino, António Chaves Abreu, José Carlos Bernardino and Mário Santos Pereira came 2nd in the Regional Ocean Championship of the South and Islands Bank Workers Union.The Club team won the Regional Tournament of the North Bank Workers Union. Squash The team comprising Orlando Figueiredo and José Fernandes was 1st of the company teams in the Masters Tournament organised by the National Squash Movement. Handball The Club team won the INATEL Oporto District Championship and the ‘Maia Handball Cup 2004’, and came 2nd in the Senhora da Hora veterans’ tournament. Athletics António Valente came 6th in the International Veterans Championship at Ahrus (Denmark). Basketball The Club team came 4th in the INATEL Oporto District Championship. Table tennis The Club’s ladies team came 4th in the INATEL District Championship. Volleyball The men’s and women’s teams came 4th in the INATEL Inter-district Tournament. Chess The Club won the Regional Championship of the North Bank Workers Union and INATEL Oporto District.
Millennium bcp Club Total membership: 25,903 Effective members: 12,375 Auxiliary members: 13,528 74 Social Fund
Age
40.00%
30.00%
Social Dialogue Millennium bcp lends very considerable 20.00% importance to social dialogue. Encouraging social dialogue not only with 10.00% each employee in particular but also with the employees as a whole is part of the
Millennium bcp culture. 0.00% < 20 20 - 29 30 - 39 40 - 49 50 - 59 60 - 64 >= 65 The Bank hears the trade unions. Collective bargaining is an effective practice and goes far beyond what is Job Situation required by law.The Workers’ Committee is heard on a regular basis 100.00% and monthly meetings are held with one of the Bank’s vice-chairman.The Board is fully prepared to talk, to provide 80.00% explanations, to hear suggestions, to correct measures and to co-operate 60.00% with the Workers’ Committee in problem solving. 40.00%
The Bank provides all the means required 20.00% to hold Worker Committee elections, and there is also the internal 0.00% Millennium bcp site to disclose the In service On sick leave Retired Rescission of contract Relative deceased Committee’s communiqués to the Bank’s employees.
Social Fund Years of Service The Social Fund is provided with assets designed to provide aid in special cases of economic and social needs of the 60.00% Bank’s employees, retirees, pensioners and their dependants. 40.00%
The help in cases of proven need can 20.00% involve loans or grants, in those situations not covered by employee social loans or 0.00% mortgage loans. <5 5 a 10 11 a 15 16 a 20 > 21
Requests for social support within the scope of the Fund can be addressed by employees to their seniors Type of Situation (employees in active service), the Human Resources Division, the Social Support 40.00% Services (Medical Services) or the Workers Committee. 30.00% Grounds must be provided for the requests and specialised staff then 20.00% prepares a case file.The Fund’s management team takes the decision. 10.00% The charts summarise the cases reviewed in recent years. 0.00% Psychological Psycho-social Physical health Economic hardship Indebtedness
2001 2002 2003
Social Responsibility [The Company, a society]
Bringing together
Internal communication Intranet and training aspects. Providing at Millennium bcp Having contents from the most varied of information on the evolution of the Understanding the importance of internal the areas of the Bank, updated on a daily business and the results achieved by communication at Millennium bcp implies basis, the Millennium bcp Intranet site the various areas and by product and/or perceiving the real dimension and the provides access by any employee to segment, on the main innovations needs of a financial group that, in Portugal information pertinent to day-to-day and trends, and promoting the alone, employed a staff of more than professional activity: from information on Millennium bcp culture – these are 15,000 at the end of 2003. Joining, training products and their term sheets and the main aims of the Millennium bcp and motivating so large a group of people commercial goals to daily national press Magazine, sent to all employees scattered across the whole country and in clippings, with a focus on news provided in Portugal and abroad and also to various other countries of four continents, by the economic and financial press, not retired workers. (Average print run: committing them individually and as a forgetting the availability of articles from 35,000 copies; average readership group to the culture and to the success of the most diverse international 100,000.) the institution requires the use of a publications. multimedia network that provides a flow Staff meetings of information necessary to the exercise The Millennium bcp Intranet site also The Millennium bcp staff meetings, of professional activity, to the spreading of provides a database of internal contacts, held twice a year, constitute a fine the Group’s culture and to a constant allowing fast identification of an opportunity to discuss and share sharing of opinions and experiences.This interlocutor in a given area of the Bank, experiences and information helping network (developed since the foundation simplifying contacts between the to bring together the entire of the Bank, and with growing importance thousands of employees.This site also organisation around the same objectives as the Bank increased in size, both provides the day’s main news, which, and goals.They are also an occasion organically and through acquisitions) when required (for the urgency or allowing easy contact between all, involves an Intranet site, a magazine, pertinence of the matter) is sent in including the Board and the senior several meetings and encounters with advance or simultaneously by e-mail. management of the Bank.This has employees and also a television channel, unanimously been viewed as the best Millennium bcp TV, which has already Millennium bcp Magazine way of broadcasting and disclosing the become a case study for many other The editorial concept of the internal institution’s strategy down the chain institutions. magazine provides both informational of command.
77 Social Responsibility [The Company, a society]
Millennium bcp TV production studio.
Millennium bcp TV encourages commercial activity and Activity in 2003 In a business dependent on a large improves the quality of the service. number of commercial establishments The option for technology professionally Millennium bcp Journal having geographic discontinuity, tested and confirmed as the ‘industry Broadcasts 249 information is vital to efficiency. Used standard’ reduced the technical and Features 259 within the Group since 1996, financial risks and, with its own resources News items 822 Millennium bcp TV builds up a more that provide absolute autonomy in the Events 224 effective, more human community that production and organization of is more tightly bound, eliminating programmes, either in deferred or direct, Clear Ideas (training programme) the physical and psychological distance round-the-clock broadcasting made that is always caused by isolation, while possible to ensure 24 hours day large Features 57 combating the ‘commercial unfamiliarity’ broadcast, including programmes for both Production 41 that the concentration of the back offices employees and customers. As from the can also cause for those employees first quarter of 2003 it has also been Millennium bcp News of the operational structure less produced and broadcasted the ‘Millennium (news summary in English) in contact with the customers. bcp News’, implementing a project that Broadcasts 47 Among other things, the existence of this summarises in English the weekly news Direct means of communication minimises vehicle,‘Millennium bcp Journal’, 78 geographic barriers, brings dialogue bearing in mind the Millennium bcp Millennium bcp Direct 13 between employees to the forefront, foreign operations. Social Responsibility [The Company, a society]
Stimulating creativity
Stimulating the innovation and The ‘Thousand Ideas’ programme assessing and selecting the best ideas This initiative is designated to encourage through the ‘Thousand Ideas’ programme. creativity of all Millennium bcp all employees to suggest new ideas that employees is the aim of the can be implemented in three different The idea is also to reward motivation and areas to improve the performance excellence, and therefore the programme ‘Thousand Ideas’ Programme. of the bank: includes the award of quarterly and annual prizes for the best ideas actually – improvement of process efficiency; implemented.
– improvement of the offer of products; In this way, Millennium bcp stimulates the and participation and commitment of each and every member of the staff to the – improvement of customer service. ongoing improvement of the Bank’s performance, both internally and The Bank is committed to hearing all its externally, involving them in the discovery employees, their ideas and suggestions and implementation of best practices, through a rigorous process of gathering, best products and best services.
79 The principles on which corporate social responsibility is based recommend that companies be at the service of their stakeholders and of the local or national communities at all times.
But they must be at the service of all stakeholders, not just at the service of one person or of a limited number of persons. Hence the importance of social responsibility, of the rules of corporate governance and of corporate ethics – to prevent companies from becoming instruments or being appropriated by some, to the detriment of all the others. Filipe Pinhal Vice-chairman of the Board of Directors Social Responsibility [The Company, a society]
The Company at the service of Mankind A commercial bank is a magnificent observation post from which to demonstrate the direct relationship between the health of companies and the integrity of their management. In banking, we have become accustomed to consider the knowledge of corporate customers and of their management as a fundamental requirement to assess the evolution of the business, the financial condition of the companies and the rationale of the options that are taken.
But it is not only in banking that seeing is believing. Recent stakeholders and the local or national communities. But it must be episodes of bankruptcies of well known names in the international at the service of all stakeholders, not just at the service of one corporate world show how the transparency of the life and person or of a limited number of persons. Hence the importance activities of commercial companies is imperative; all the more of social responsibility, of the rules of corporate governance and of imperative the greater their size, for more people are dependent corporate ethics – to prevent companies from becoming on their success or failure, and the interests at stake are also wider. instruments or being appropriated by some, to the detriment of all The occurrence of such scandals – surprising, since large important the others. information had been hidden – brought to light the absolute need This was not the path taken by those who caused the recent for a regulatory framework to prevent such abuses.The more bankruptcies that made the global financial markets shudder, with common of these is the sidestepping of the corporate object: the uproar of the greatest stock market disasters of the Great investments, financial operations and spectacular promotional Depression. Perhaps because the guilty parties forgot that profit is activities – designed more to feed the personal prestige of the a requirement of sustainability, but it is insufficient to ensure decision makers than to effectively create value; the assimilation of sustainability, that the profit that must be ensured is consistent personal interests and projects with corporate objectives; hiding profit, sustainable in the long term, not the profit with which management mistakes and manipulation or withholding of analysts are deceived through banner presentations of results, that information concerning relevant facts of the company’s life – the image that must take root in the market is one of good particularly real or potential losses. reputation and of honour, not a virtual image produced by the What then happened was not the result of a personal way of image makers. exercising management but of the reiterated mistakes or Those who led thousands of investors to ruin ignored, deliberately unforgivable illegalities.The personal way of exercising leadership or not, that corporate responsibility consists, above all, of achieving of a company – charisma, as it is so often called – can be a legitimate goals by lawful means.They also probably forgot that powerful factor in building up and creating a reputation that only corporate responsibility – which necessarily includes social favours the image of company and of its leader. People as different responsibility and the rules of corporate governance – cannot as Akio Morita, Jack Welch and François Michelin had their own subsist without a refined ethical conscience that requires other remarkable style, to mention just three markets, each with its own people’s property to be managed even more prudently and very distinct operating rules and cultural and social background. carefully than in the management of their own interests. The reputation of the companies that they headed benefited from Other people’s property which, taking the form of a trading their own style, as did the interests of the shareholders and the company, is classified in France as a ‘Social Good’, and its managers prestige of the countries, of which these companies came to can even be condemned for abuse of a ‘Social Good’; in the very constitute the flag of quality and efficiency. same France where François Michelin brilliantly set out his An own style of strong, striking and motivating leadership? Why thoughts about the role of the company in society: The Company not, if the company, its shareholders, its employees, its customers at the service of Mankind? Why not? and other stakeholders, and the community in general benefit
from it? 81 The principles on which social responsibility is founded Filipe Pinhal recommend that companies be at all times at the service of the Vice-chairman of the Board of Directors Three case studies The Millennium bcp Meetings
NovoBanco (Mozambique)
The Foundation Social Responsibility [Three case studies]
The Millennium bcp Meetings
One of the great objectives Meeting the interested parties Each event provides the opportunity for (stakeholders) unusual proximity, which is greatly valued, of the Millennium bcp The Millennium bcp Meetings, a unique between the above mentioned Meetings is to contribute initiative that began in 2003, constitute a stakeholders and the Bank’s top magnificent venue for dialogue between management – including the chairman to the development of the the Bank and its stakeholders in each and other members of the Board of Portuguese financial system and region.The aim is to bring Millennium Directors and senior managers – not of the Portuguese economy. bcp closer to the local communities of forgetting the presence of local which it forms part.The natural dignitaries, key elements in the success of objectives of these events is to get these initiatives in particular and of together with the main economic agents, Millennium bcp in general in each place. the Bank’s shareholders, the customers Furthermore, strengthening the proximity and the staff, hearing their suggestions between top management and the and assessing what they expect of various employees in each region is Millennium bcp, making a real another aspect that deserves the contribution to the Bank’s performance commitment of the Board, making each as a relevant financial institution in the event the ideal moment to stimulate and various regions of the country. to recognise the real contribution of
84 each employee to the profits of the responsible for the analysis of each optimise the concept and distribution of institution. district or region, providing, among other innovative, personalised financial products things, a critical portrait of the local and services, meeting the specific financial During 2003, Millennium bcp organised economy and its competitiveness needs and expectations of each region eight Meetings in the districts of Vila Real, compared with that of the other regions and market segment. Viana do Castelo, Coimbra, Leiria, Braga, of the country and of the European Funchal, Faro and Ponta Delgada. In 2004, Union (EU25). At each Millennium bcp Divulging the local offer the Bank has visited Évora, Aveiro, Meeting there is a presentation of the of products and services Santarém, Famalicão and Portalegre, and socio-economic analysis made by the Divulging the local offer of the another three similar events are planned university, which is later provided to all Millennium bcp products and services is for Viseu, Setúbal and Beja until the year- participants. held to be of vital importance both to end. the Bank and to the regions in which it This greater knowledge and interaction does business. Bearing in mind that Contributing to the development with the various regions of the country geographic location plays a determinant of the Portuguese financial system allows the Bank to make a real role in the search for financial products One of the main objectives of the contribution to the local reality and to its and services, Millennium bcp endeavours Millennium bcp Meetings is to contribute economic development and, in parallel, to to provide a wide-range offer that takes to the development of the Portuguese into account the specific needs of the financial system and of the Portuguese various regions. Aspects such as the economy. Millennium bcp seeks to property profile and the life cycle of transfer to its interlocutors a deeper people and companies, preferred knowledge of their region, from the channels of access to the Bank, among financial, economic and social standpoint, others, condition the methods of action of the present situation and of the and define the offer for each region.The challenges and potential facing it in the Millennium bcp Meetings contribute to near future. the disclosure of the offer provided by the Bank from time to time and also To better achieve this objective, allow its quality to be gauged in the light Millennium bcp has entered into a of real needs, with regard both to partnership with Universidade Católica individual customers and to corporate 85 Portuguesa.This renowned institution is fabric. Leiria, September 24, 2003 About 340 people attended the Leiria Meeting.Those present included, among many other personalities, the Bishop of Leiria-Fátima Past Meetings and the mayor of Alcobaça.
Braga, October 14, 2003 Some 220 people were present at the Great Vila Real, May 20, 2003 Hall of the Faculty of Philosophy of the The Vila Real Meeting took place Universidade Católica Portuguesa, including at the Great Hall of the University the Archbishop-Primate of Braga, the civil of Trás-os-Montes e Alto Douro. About governor and the mayors of Braga, 320 people took part, including the Guimarães and Vieira do Minho, as well as mayors of Mondim de Basto, Chaves the chairman of the Senior Board of the and Alijó. Bank.
Funchal, November 3, 2003 Viana do Castelo, July 1, 2003 This meeting was held at the Maceira Congress Centre, attended by about 330 people, including Over 200 people came to the Santiago da the president and vice-president of the Regional Barra Castle, including the mayors of Legislative Assembly, the regional secretary for Melgaço, Ponte de Lima and Monção, and the Plan and Finances, the dean of the University the vice-president of the Business of Madeira, the mayors of Machico, São Vicente, Association of Portugal (AEP). Ribeira Brava, Santa Cruz and Porto Santo, as well as a member of the Bank’s Senior Board.
Coimbra, July 8, 2003 Faro,November 25, 2003 This meeting took place at the Auditorium About 340 people took part in the Faro of the Deanery of the Coimbra University, Meeting, including the dean of the University of attended by the dean of the university and the Algarve, the civil governor of Faro and the by more than 300 others, including the civil president of the Algarve Tourism Region. governor and the mayors of Coimbra, Figueira da Foz, Soure, Penela and Tábua. Ponta Delgada, December 5, 2003 This meeting was held in the Great Hall of the University of the Azores, with the Famalicão, May 18, 2004 presence of the dean of the university. The Famalicão Meeting took place at the About 310 people attended, including the Auditorium of the Casa das Artes and was commander of the Maritime Region of the attended by about 340 people, among whom Azores, the regional secretary for Finances the mayors of Famalicão and Barcelos, the and Planning, the mayors of Ponta Delgada president of the Cupertino de Miranda and Vila Franca do Campo and a member Foundation and the chairman of the Bank’s of the Senior Board of the Bank. Senior Board.
Portalegre, July 6, 2004 Évora, February 17, 2004 This meeting was held at the Higher School of The Évora meeting took place at the Technology and Management and about 150 Auditorium of the University of Évora and people were present, including representatives was attended by the dean and some 240 of the School and of the Polytechnic Institute others, including the mayors of Estremoz, of Portalegre, the civil governor, the mayors of Arraiolos, Portel, Reguengos de Monsaraz Portalegre, Campo Maior, Crato, Marvão, Nisa and Évora. and Fronteira, and a member of the Senior Board.
Guarda, September 14, 2004 Aveiro, March 16, 2004 The Meeting took place at the Auditorium of The Aveiro Meeting was held at the Cultural the Guarda Polytechnic Institute. About 210 and Congress Centre. About 450 people people, including the president of the Institute, attended, among whom the mayors of Vale de the civil governor and the mayors of Guarda, Cambra, Ílhavo, São João da Madeira and Trancoso, Pinhel, Celorico da Beira and Figueira Sever do Vouga. de Castelo Rodrigo, attended it.
Meetings on the Agenda:
Santarém,April 14, 2004 Viseu, October 26, 2004 The Santarém Millennium bcp Meeting Setúbal, November 16, 2004 was held at the National Exhibition Beja, November 23, 2004 Centre (CNEMA) and was attended by some 370 people. In the words of a Customer "I was greatly impressed by the way in which the Millennium bcp during the cocktail at the end of the meeting. As a long-standing Meeting was organised in the Algarve and was pleasantly surprised customer I would like to put my pleasure on record and to by the turnout of the leading entrepreneurs of the region.The express the hope that other meetings of the same kind will be information provided on the economy in general and the statistical held every two or three years. It’s a way of keeping up to date data on the Algarve (presented also in brochure form) by the and an opportunity for the bank to approach and identify with various speakers was very good. I came to know that the Faro its customers, an opinion that I share with many other district has the country’s third biggest per capita GDP (after Lisbon participants." and Oporto) and that tourism accounts for 50% of the activity. In a friendly and very natural atmosphere, we had the opportunity to Aníbal Sousa Guerreiro talk with the 3 directors present, during the interval and also Businessman
"Encounters gather Customers and Aveiro Cultural and Congress Centre.» information on the region (through the Entrepreneurs" (As Beiras, March 19, 2004) Universidade Católica, which also takes «Customers, Entrepreneurs and part) and the products and services that outstanding figures of the region came "Greater purchasing power in its group has to offer, receiving in together to hear about the bank’s Braga and Famalicão" exchange the doubts raised by those who presence in the region and about the local «The study that was presented […] feel far from the country’s centres of economy. But, more important, to take revealed that in recent decades Famalicão economic decision.» part in a session of questions and answers has seen a considerable increase of its (Diário de Notícias, April 19, 2004) with speakers.This is, indeed, the most resident population. Over a period of 21 exciting part of the meetings.» years, from 1980 to 2001, it has grown "Services must be exported" (Prémio, January 2, 2004) 19.5%, while the population of Portugal «A focus on exporting services is the increased 5.5%.» way for the centre region to recoup "Aveiro attracts (Diário do Minho,May 10, 2004) some of its backwardness in relation to resident population" other regions of the country.This was «The population of the Aveiro district "A bank in touch one of the conclusions of a meeting that has increased by nearly 15% during the with the real country" BCP held yesterday in Coimbra, during past two decades, and it also has a «Through these Meetings, Millennium bcp which the economic panorama was proportion of youths higher than the seeks to establish direct contact between sketched out of a district whose national average.These were among its employees, its customers and its population has increased less than the the conclusions of the Millennium bcp shareholders. Furthermore, they bring to national average.» Meeting that took place this week at the the various cities socio-economic (Jornal de Notícias, July 9, 2004) The Millennium bcp Meetings are a landmark in the interaction between a major domestic company and regional economic life. To take part in the Meetings is, for the Universidade Católica, a challenge of evaluation of what is local and specific, a way of contributing to an analysis of the regions and of the country. And it is therefore a part of the integration of the universities into the society to which they belong.
João Confraria Professor of Universidade Católica Portuguesa Social Responsibility [Three case studies]
NovoBanco The why and the wherefore of micro-finance
Everything begins outside, out At a glimpse though also aware that neither BIM nor Inside, in a rather unimpressive BCP had the knowledge to develop it, there amid the colours of the environment, one can see a counter and a it immediately became clear that the market, in the middle of the modest group of desks and chairs where business would have to rely on other the credit analysts deal with the customers. experiences if it were to be developed. matope, of the noise of the The dialogue is almost always in one of the chapas, and the hubbub of the local dialects; every detail has been thought During the year between the start of the kids of the tchovas.You can see out so that the customers, unaccustomed project and the official opening of to being received in banks, will feel at ease. NovoBanco a number of entities joined the care taken to ensure that the It proved possible to conceive personalised with BIM as shareholders, building up the branches do not stand out from attendance for this target group. confidence required to meet the challenge. Of the initial group of the surrounding tones, that they The origins shareholders the following stand out: ‘rhyme’ with the outdoor NovoBanco opened its doors to the the IFC-International Finance Corporation public on November 1, 2000, though its (a member of the World Bank), the FMO atmosphere. Even the bright origins date back to 1995, when the (an organisation held and controlled by colours of the logo were carefully Banco Comercial Português Group the Dutch government, designed to prepared its move into the Mozambican provide support to private initiatives in studied: everything had to identify market with the inauguration of Banco the field of the socio-economic with the country, with the people, Internacional de Mozambique (BIM).Well development of communities) and the aware of the reality of the country, when Government of Mozambique itself, with the suburb. the Mozambican authorities authorised through the Housing Promotion Fund. BIM to set up – a universal banking operation directed at the emerging middle The lack of specialised knowledge of class and at the medium and large operations of this type was surmounted company segment – they challenged BCP by the involvement of IPC (Internationale to set up a micro-finance operation. Projeckt Consult), a German consultancy company having vast experience and The challenge was accepted.The recognition acquired through NovoBanco project was launched in 1999, implementation of eighteen micro-finance four years after the BIM inauguration and operations in various parts of the world. after BIM had achieved a firm and relevant During the project stage and over a position within the Mozambican banking period of five years, the IPC will provide market for its innovation and for the for the technical support necessary to the quality of service that it brought with it. proper development of NovoBanco.
Aware of the specifics and of the risks All the shareholders – mostly international inherent in a micro-finance operation, institutions of significant dimension –
Matope:mud; chapas:private passenge or good vehicles, used to a considerable extent as ‘public transport’; 90 tchova:a word meaning to push. In this context it is a two-wheeled vehicle pushed by someone, used to transport loads. Its use is widespread, particularly near markets. Social Responsibility [Three case studies]
Credit meeting at NovoBanco. assumed that they expected from population still lives below the poverty development of these initiatives, though this project a sustainable, though not threshold.The informal economy is the business of the greater part of the immediate, return on the investment. widespread and hugely important to commercial banks is not geared to They would focus on the skills of the Mozambican society.To improve the living undertakings of this sort, so characteristics employees and on their intensive training conditions of the people a path must be of a country such as Mozambique.There to ensure that the service provided by taken that leads to the creation of wealth is considerable reluctance to extend the NovoBanco would constitute an example distributed across every social level, a credit policy to a socio-economically more of excellence for the market. process that finds support in the aid backward group and this is based on granted to the development of the private reasons – some more valid than others – The grounds sector by the government and by several that have to do with the inability of these Fifteen years of civil war turned international organisations. small entrepreneurs to provide sufficient Mozambique into one of the world’s guarantees, with the fact that they have no poorest countries, relegated to the Many economists and development organised accounts and with the excessive bottom positions of the ranking of experts see small and medium corporate operating costs incurred in monitoring development. Nevertheless, the political initiatives as the solid basis of economic these loan processes. stability that was achieved following the growth and of job creation. Underpinning civil war created the conditions to alter this opinion is the fact that the middle Consequently, the banks focus on the the country’s economic path, involving the class that is growing up as a result of upper segments, leaving a void for a introduction of a number of reforms and these initiatives plays an enormously considerable number of economic agents measures of an economic and legislative important part in the stabilisation who, when addressed by specific banking nature. of society. ‘technology’, show that the credit risk does not vary in inverse proportion to 91 Despite these changes to the economic Access to capital and to financial the financial dimension of the scenario, the vast majority of the instruments is essential to the entrepreneur. Social Responsibility [Three case studies]
Nampula To t a l value of loans (in USD)
2,916,745 Characterisation
Beira The NovoBanco operation is based on a 2,090,196 classic financial organisation structure, in which careful management of resources is the dominant factor. In the structure, the position of ‘loan manager’ is particularly
802,309 important for all the business hinges on Branches their activity.These employees, to whom Maputo (September 2004) a large part of training time is devoted, Maputo: head office + four branches are responsible for attracting new Beira: one branch 2001 2002 2003 business, for the preparation of the credit Nampula: one branch processes and, more importantly, for the Loans past due constant monitoring of the customers Deposits by over 30 days during the life of the loan.Their 16,125 2.17% 2.14% remuneration varies in direct proportion to the business brought in and to its quality over time.
7,990 Another of the principle features of the micro-finance ‘technology’ lies in the loan decision process: the analysis is strict; the 0.54% information concerning the beneficiaries 296 and their business is exhaustive. In the
2001 2002 2003 absence of quantitative information, finely 2001 2002 2003 tuned qualitative information becomes more important. Employees
Loans 176 8,178 The business line with which NovoBanco
7,277 started operations was based solely on granting loans. At present, the portfolio 126 structure shows a predominance of micro-loans (of up to a thousand dollars), accounting for 93.8% of the total 3,168 58 portfolio. Loans of between one and ten thousand dollars account for 6.1% of the total, and just 0.1% of the loans involve more than ten thousand dollars.
2001 2002 2003 2001 2002 2003
Shareholder Structure (October 2004) Shareholder Registered Office Share Capital invested (USD) BIM – Banco Internacional de Moçambique (held by Millennium bcp in 66.67%) Mozambique 30.0% 900,000 IMI – Internationale Micro Investitionen AG Germany 25.0% 750,000 IFC – International Finance Corporation USA 13.3% 400,000 Stichting DOEN Netherlands 13.3% 400,000 FMO – Nederlandse Financierings-Maatschappij voor Ontwikkellingslanden Netherlands 13.3% 400,000
92 FFH – Fundo para o Fomento da Habitação Mozambique 5.0% 150,000
Share capital: USD 3,000,000 NovoBanco is directed at low-income people who, in the case of Mozambique, are mostly women. It is a bank that, by opening up opportunities to access to resources by social groups that are usually marginalised by traditional banking, is seen to be an instrument that can mitigate social and gender imbalances. It promotes equity and is undoubtedly an invaluable component of the fight against poverty and social exclusion. Graça Machel President of the Community Development Foundation Social Responsibility [Three case studies]
NovoBanco Success stories
Construction Materials At the end of 2003 Mr. Zevo sells construction materials and was one of NovoBanco’s first NovoBanco consolidated customers.When, in December 2000, its leadership of the he took out a 410 dollar loan, micro-finance market Mr. Zevo rented the facilities where he carried on his business and he in Mozambique. had three employees. Over the past Three years after its three years he has taken out five foundation, the Bank has loans. He is now using his sixth, in the sum of 3,300 dollars, and already managed to successfully owns three shops in Maputo establish a relationship and employs 16.
of trust with a significant part Clothes factory of its target market of micro Mr. Mabote owns a small factory and small entrepreneurs, turning out uniforms and work clothes. His first loan in the sum of 2,080 dollars and this base is enlarging dates back to the beginning of 2002 and as the branch network it allowed him to buy more raw extends into other parts materials with a view to meeting the growing demand for his products. of Mozambique. His loan now stands at twice the original amount. Mr. Mabote is now included in the small and medium customer portfolio.
Street kiosk Growth and development Ms. Mutemba and her sister have During this period the range of products a small street kiosk in front of the was also carefully and progressively house in which they live. Once a week, enlarged with a view to transforming one of the sisters travels to South Africa NovoBanco into a platform for the to buy goods at a supermarket near provision of universal banking services. the border.They are now using their Current accounts, term deposits and first 210 dollar loan.When asked about transfers are already part of the available their plans they say, "We now want range. A large percentage of the to buy bigger quantities to save NovoBanco customers is already making on costs". use of their third, fourth or even fifth 94 consecutive loan. This is a simple bank for simple people. Different from the luxuries and comfort of traditional banks. It’s a bank for people without the ability to deal with the peculiar characteristics of the banks to which we are familiar. Mário Machungo Chairman of the Board of Directors of NovoBanco and of Banco Internacional de Moçambique Social Responsibility [Three case studies]
The Foundation
The Foundation and adequate structure, under separate The Banco Comercial Português its fields of activity management and with the financial Foundation was set up by public deed in One of the Bank’s missions has always capacity to draw up and manage a December 1991, its articles of association been to contribute to the preservation programme of activities directed specially defining its foundational values. Article 2 of and promotion of the nation’s cultural at sponsorship of areas selected in the articles of association sets out in heritage, particularly in the fields advance. general terms the direction of the support of architecture, archaeology and the and co-operation to be provided: arts, to the extent that it believes The decision was taken to set up a in cultural heritage as the common foundation as the best option, as a result • activities in the field of education, denominator of the construction of the combination of several factors, including those that contribute of the national identity. particularly: to an increase of Portuguese
On a par with its specific business, • the regulations governing the language and culture and of their there is also a clear commitment to link between the Foundation and dissemination; the development of the society the Bank, the entity responsible of which it is a part. for the financial allocations, lending • fostering scientific research; greater agility to the internal The passing of time, the change of management; • support to the provision of health, socio-economic reality and the evolution solidarity and welfare services and to of the concept of social responsibility have • greater operational strengths as a result general humanitarian works; provided a new framework for the of the concentration of decision centres, institution’s relationship with the in view of the diversified nature of the • support to entities promoting training community. As a result of the Bank’s requests; and and cultural development; growing role in the various sectors of society, a demand naturally arose for • the stimulus given to institutional • restoration of the artistic and specialisation and response capacity in sponsorship as a result, among other architectural heritage; and view of the growing flow of requests. things, of the successive alterations of 96 Faced with this situation, a project gained the law, with its progressive increase of • support to entities engaged in any of ground, involving the creation of an tax benefits. the above mentioned activities in Archaeological site at the Millennium bcp building at Rua Augusta (Lisbon).
Portuguese-speaking countries that can selects as partners other renowned social action that have insufficient means. benefit there from. entities. The Foundation’s articles of association have regard to provide for support to The Foundation and Evaluation procedures and criteria such institutions, provided that their the Millennium bcp strategy Monitoring the events and activities that credibility, standing and consequent Having determined that the operation are supported, particularly through news capacity to act are duly confirmed. would involve two major areas – Culture in the press and through gathering activity and Solidarity – the Foundation is reports, allows an evaluation of results to Health responsible, through sponsorship, for be made. In-house awareness of the Support to hospitals and other institutions implementing the support to the company’s social responsibility activities is in the acquisition and renovation of health development of society that the Bank has fundamental, provided through the means equipment. always intended to provide. It is therefore currently available. Externally, the fundamental that the Foundation’s activity, motivation that underpins the social Culture in addition to being well planned, be intervention policy must be clearly and Art publications, scientific subjects, properly communicated. At overall unmistakably transmitted. literature, history and exhibition corporate strategy level this constitutes an catalogues. important contribution to a strong Education corporate image. Support to activities (publications, Music, co-operating with entities and libraries, conferences), for every projects having great impact and One must, however, take into account that age group, promoting Education, credibility, and support to budding new the legal rules governing sponsorship limits including training teachers, using the national values. the established tax benefits that can be schools as the prime vehicle and received by significantly excluding any seeking decentralisation throughout Theatre, supporting quality plays and consideration that could be considered as the entire country. encouraging, whenever possible, the being of a commercial nature. decentralisation of their staging to take Research them to places other than the usual major Selection procedures and criteria Conferences, seminars, congresses, that urban centres. In selecting beneficiaries, procedures have research & development as their adopted stem, in the first place, from the object. Support to publication of works of Museums, through support provided intrinsic value of the projects and their a scientific nature. Co-operation in under protocols that establish the compatibility with the framework research projects undertaken within the conditions for the institutional support, provided by the articles of association, scope of universities. including the time during which the in the pursuit of the Foundation’s support will be provided. objectives.The necessary information is Social action acquired regarding the applicants, their This concept has to be understood as Art exhibitions and other cultural events, credibility and capacity to act, so as to activity to be directed at society’s neediest including didactic events, directed at the obtain assurance that proper use will be people in order to contribute to their younger population. made of the support granted.There is at integration and to enable them to access all times a concern to safeguard the a better quality of life.There are countless Restoration of heritage of proven 97 Bank’s image, whether it acts alone or institutions engaged in the various areas of architectural, artistic and historic interest, Social Responsibility [Three case studies]
including projects in financial partnership a view of 2,500 years of the history The Safe Church Project with the State. of Lisbon, from the Ibero-Punic period Within the scope of its policy to Pombaline times. in support of the defence Co-operation with Portuguese and conservation of the national speaking countries Since it was opened to the public over heritage, Millennium bcp supports In addition to the scholarship 60,000 visitors have rediscovered this the Safe Church Project.This project, programme, co-operation with the archaeological treasure.The guided tours designed to create the security Portuguese-speaking countries involves, in are free and take place on Thursdays from and preservation conditions particular, support to education, including 3 to 5 p.m. and on Saturdays from 9 a.m. required for the systematic safeguard sending schoolbooks and works by to 1 p.m. and from 3 to 5 p.m.Wednesdays of the historic and artistic heritage Portuguese authors, as well as financial are devoted to school visits. of churches and other religious buildings, support for the creation of schools and can be seen in detail at the multimedia training of teachers in needier areas. Applications by telephone 213 211 700. display at the Mónicas Convent In this way, the objective of fostering Entrance through Rua dos Correeiros, 9, in Lisbon from September 27 to Portuguese is also met. in downtown Lisbon. November 30, 2004.
Support is also provided to social Restoration of the Nossa Senhora Restoration of the Cloisters solidarity actions in general undertaken da Encarnação Church of the Jerónimos Monastery by non-governmental organisations Millennium bcp supported the Having acquired considerable experience and local institutions engaged in this restoration of the Nossa Senhora in supporting the conservation area. da Encarnação Church in Lisbon’s of the building heritage, Millennium bcp Chiado area. A notable example recognised the importance and urgency A different treasure of Baroque architecture, this church of this work and help to make it in the basement of the Bank suffered the effects of the 1755 feasible, restoring the cloister The restoration of the Millennium bcp earthquake and subsequent fire. of Portugal’s most visited monument building located between Lisbon’s In 1802 another fire destroyed the to its original beauty and dignity. Rua Augusta and Rua dos Correeiros ceiling of the church’s nave, decorated is an exemplary case of reconciling with paintings of very high quality. Restoration of the tradition and modernity: due regard Despite the restoration carried out Presbytery Retable was had for the place and the historic on previous occasions, the severe The Presbytery of the Church of and architectural heritage, and the deterioration of the paintings the Monastery of Santa Maria de Belém, community (the city, the country) of the ceilings of the nave and presbytery or Jerónimos, was built between 1565 can access and enjoy a heritage that, required an urgent in-depth work, and 1572 by order of queen Catherine to some extent is also theirs. and Millennium bcp helped to make of Austria (1507-78), the widow of
98 this possible. Concluded last May, king João III.The presbytery retable The preservation of the Archaeological the result is now worthy of admiration comprises six beautiful, large oil paintings Site at Rua dos Correeiros provides by the public. attributed to Lourenço Salzedo, painted Exemplary Safeguarding the past, providing for the future, donating in the present – Cultural Sponsorship means acting responsibly in the defence of the Heritage. Jerónimos Monastery, World Heritage, is a landmark in which Memory has been safeguarded by society. Millennium bcp has been exemplary in providing unconditional support to the preservation of this monument.
Isabel Cruz Almeida Director of Jerónimos Monastery and of Belém Tower, and Vice-president of the World Monuments Fund – Portugal Social Responsibility [Three case studies]
on oak panels.The lower panels show The national collection of contemporary to materially enhance creative work. Adoration of the Magi; the upper panels Portuguese art.The museum’s For its prestige and monetary value depict scenes from the Passion of Jesus temporary exhibitions are also of the Millennium bcp Reading prize has Christ: Christ carrying the Cross, Christ is particular interest. become the most important literary taken down from the Cross, Flagellation prize in its field in Portugal. of Christ.The advanced stage of National Tile Museum deterioration of the paintings claimed Millennium bcp is the institutional sponsor Henrique Barrilaro Ruas for urgent in-depth, and Millennium bcp of the National Tile Museum located at at the National Library contributed to making this possible. the former Madre de Deus Convent Together with the heirs of Henrique dating from 1509.The museum shelters Barrilaro Ruas (1921-2003), Millennium Portuguese Museum Institute the old collection (15th to early 19th bcp donated to the National Library the Millennium bcp has entered into a protocol century), and it has been successively collection of one of the great figures of with the Portuguese Museum Institute enriched with new items, establishing a contemporary Portuguese culture. under which it sponsors some of the more path between archaic tile work and A collection was thus kept together important of the country’s museums. contemporary tile production. comprising many thousand documents
Soares do Reis National Museum The Millennium bcp Reading Prize (manuscripts and typed originals, Millennium bcp is the sole sponsor of In 2004, the jury decided to award correspondence, notes, long working files, the Soares dos Reis National Museum, the Millennium bcp Reading prize to documents concerning civic and political the country’s first museum. Founded in Jerusalem,a new work by Gonçalo intervention). After having been 1833 it has been located in the Carrancas M.Tavares.The prize ceremony took catalogued the collection will be made Palace since 1940.The museum’s place at the São Carlos National Theatre available to researchers. Millennium bcp permanent exhibition has a significant on May 19, 2004. thus makes its contribution to allowing the collection of 19th and 20th century Portuguese Library to continue its mission Portuguese painting and sculpture, on a The result of a partnership between of preserving Portuguese documentary par with displays of the decorative arts, the Círculo de Leitores Foundation and literary heritage, enriching its including tin-glazed pottery, porcelain, and the Millennium bcp Foundation, collections and passing them on glass, goldsmith art, jewellery, textiles the Millennium bcp Reading prize to future generations. and furniture.The gardens contain the is intended to stimulate the disclosure stonework collection including of hitherto unpublished Portuguese Pomar in Sintra 16th to 19th century items. fiction. Millennium bcp is the main sponsor of ‘Autobiography’, an exhibition of Pomar Chiado Museum – National Through its association with a literary that can be visited in Sintra (Museum of Museum of Contemporary Art prize of this importance and significance, Modern Art – Berardo Collection) from
100 Millennium bcp is the institutional the Bank wanted to give public visibility May 8 to November 7, 2004. In a sponsor of the Chiado Museum, to its esteem for Portuguese literature retrospective look at sixty years of which houses the most important and for its authors, creating a reward creative work (1944-2004) you can An opera house is by nature a theatre of inevitable international projection, a country’s visiting card that provides the possibility of exporting the image of a living, ambitious cultural reality. In this sense, the São Carlos National Theatre is an outstanding feature of the nation’s cultural heritage. The co-operation with Millennium bcp, in its capacity of sole sponsor, marks a high point in relations between the "State" and the corporate world.
It is now a given fact that since the beginning of this century interaction between the public and private sectors within the universe of culture has become an area of potential to create new forms of co-operation.The relation of exclusivity between the São Carlos National Theatre and the Millennium bcp Foundation during these five years has reflected this important fact. I am convinced that the support and financial contribution that the Millennium bcp Foundation has provided to the São Carlos have not only been essential to its artistic activity but have also played a great part in encouraging the renovation and inclusion of principles of economy, efficiency and efficacy in the management of the theatre, principles that the public sector should not ignore. I welcome this co-operation with a sincere feeling of gratitude. Paolo Pinamonti Director of the São Carlos National Theatre Social Responsibility [Three case studies]
admire the most remarkable works of sole sponsor, committed to playing Auditorium, of the Calouste Gulbenkian of Júlio Pomar, including some of the a fundamental role in allowing what Foundation in Lisbon from July 26 to 30. subjects that interested him most. many consider to be the complete The final concert and the award Dealing with the most important spectacle par excellence to continue of the prizes took place on July 31, moments of the life of the artist and to be performed in Portugal with great the following pianists having of the places where he worked, it could quality. received prizes this year: Eleanora be said that the exhibition is ‘an Karpoukhova (2nd prize), Olga Monakh autobiography written in painting’ Northern Orchestra (3rd prize), Ketevean Sepashvili (4th prize), or ‘a history of a life told by the person Created in 1992, the Northern Orchestra Maria Massytcheva (5th prize), Bei Lin that painted it’. has played a major part in decentralising Han (6th prize),Tristan Pfaff (7th prize), musical culture. Its repertory includes José Bagaría-Villazan (best interpretation Surrealism in Portalegre opera and ballet, symphonic and chamber of Chopin’s Nocturne) and Paulo In a context of relationships with other music. Millennium bcp supports the Oliveira (best Portuguese pianist). entities, generating synergies that have Northern Orchestra in divulging erudite As in previous editions, no first prize enabled the development of activities music to children and youth; the was awarded.The Vianna da Motta directed at the community, it proved didactic-pedagogic concerts are intended International Contest has been possible, during 2004, to take from to provide training for the young, held since 1948 and, as from 1966, Famalicão to Portalegre (to the Guy Fino complementing their musical education it has been included in the World Tapestry Museum) one of the most and creating student awareness of music Federation of International Music important collections of paintings by and its use as a mean of expression and Contests (WFIMC) and has Portuguese artists of the surrealist creation. secured international recognition movement, the Cupertino de Miranda as one of the most important Foundation Collection. Of the 2004 programme attention and demanding ones. is drawn to the following:‘Music Richter in the Chiado to tell a tale’ (Peter and the Wolf,by Contemporary Dance Millennium bcp supported the first Sergei Prokofiev);‘Study of the timbre Millennium bcp supports the Portuguese individual exhibition in Portugal by of orchestral instruments’ (Britten’s Contemporary Dance Company, Gerhard Richter at the Chiado Museum The Young Person's Guide to the Orchestra which presented a new version – National Museum of Contemporary and Ravel’s Bolero);‘Strange instruments’ of the Amaramália show.The tour Art – (from April 30 to June 27, 2004). (Mozart’s counter dance by the Company took the show to Thirty of his more representative La Bataille);‘Music to sing’ (last more than sixty locations in mainland paintings were on display, revealing movement of Beethoven’s Ninth Portugal, the Azores and Madeira, the multiplicity of directions of an artistic Symphony);‘Study of rhythm, form, being also programmed presentations career – from deliberately abstract dynamic and timbre’ (Bizet’s Carmen abroad. compositions to others of photographic Suite n.º 1; Brahms’s Hungarian Dance realism. n.º 5; Falla’s Fire Dance;Grieg’s Peer Coimbra Chamber Orchestra Gynt; Mendelssohn’s Mid Summer Millennium bcp has been the sponsor Paula Rego at Serralves Night’s Dream; Mussorgsky’s Paintings of the Coimbra Orchestra since Millennium bcp is the sole sponsor at an Exhibition; Saint-Saëns Carnival it began in December 2001. Both for of this exhibition inaugurated at the of the Animals);‘Ballet Suites’ the quality that it has demonstrated Serralves Museum (Oporto) on (Stravinsky’s Fire Bird, and Tchaikovsky’s and for the stimulus and warm welcome October 15, 2004, with the objective Nutcracker);‘Music to be staged’ that it has received, this orchestra of exploring the relationship between (Hindemith’s Wir bauen eine Stadt, and is already a social and cultural landmark painting and drawing in the work Stravinsky’s The Story of a Soldier). in Coimbra and throughout the whole of of Paula Rego, through her recent works central Portugal. (from 1977 to the present). Prize for young pianists Millennium bcp sponsored the 15th Of the programme for 2004 the focus is Opera and the São Carlos edition of the Vianna da Motta one the orchestra’s participation in the National Theatre International Piano Contest. In 2004 Coimbra International Music Festival, in 102 Millennium bcp’s relationship with the 60 pianists of 31 nationalities competed. addition to its many concerts during the São Carlos National Theatre is one The finals were held at the Grand year. A 180º Turn The support provided by Millennium bcp meant a 180º turn in my professional and academic life. After taking my degree, it allowed me to take a training course at Portugal’s biggest private financial group, with branches in various parts of the world. I thus made a start to my professional life and, more than the privilege, I felt responsibility when faced with a number of professional, academic and also personal challenges.
My scholarship provided me with the opportunity to frequent at the same time a postgraduate course at the Faculty of Law of the University of Coimbra, in the field of Banking Law, stock markets and insurance. Now, also with the support of Millennium bcp, I am taking a master course in Legal and Commercial Sciences at Universidade Católica Portuguesa (Oporto), a new stage of learning and of consolidation of my theoretical and practical knowledge. Joaquim Pedro Mahando Millennium bcp Foundation Scholarship
Social Responsibility [Three case studies]
Some Beneficiaries and Projects Supported
Support to the recovery of artistic and Monastery of Santos-o-Novo, Brotherhood of Our Lord 2002 architectural heritage and to the acquisition of the Steps (restoration of religious works of art); Social Action Association of the Universidade Lusíada of works of art by other entities Parish of Alfornelos, S. Francisco de Assis Church (works); (social action in the Cape Verde Islands); Parish of São Mamede (restoration of statues); UNESCO Portugal (support to action in favour of 1996 Parish of Santo Ildefonso (restoration works); Mozambique); Restoration of the Frigate D. Fernando II e Glória. Santa Casa da Misericórdia de Lisboa (restoration and Community Development Foundation (Education in recovery of the document collection); Mozambique); 1997 Santa Casa da Misericórdia de Chaves (restoration of Leigos para o Desenvolvimento – Laymen for Chapter House of Lisbon Cathedral (restoration religious art). Development (Education and Social Action in the of the vestments); Portuguese-speaking Countries of Africa). Sintra Toy Museum; Support to Research Jerónimos Monastery (restoration of the Presbytery 2003 retable); 2001 Maranatha Christian Solidarity Centre; Queluz Palace (restoration of the Lantern Room). Geophysical Institute of the University of Oporto, Serra Community Development Foundation; do Pilar Observatory (IT equipment). Leigos para o Desenvolvimento; 1998 Portuguese Province of the Franciscan order/Franciscan Jerónimos Monastery (restoration of the Presbytery 2002 Missionary Union; retable); Centre for Bioethical Studies; VIDA – International Volunteers for African Queluz Palace (restoration of the Lantern Room). To r re do Tombo (research of the history of religious Development. orders); 1999 Universidade Nova de Lisboa (research on Portuguese Scholarships New Barcelos Bridge (working plans); overseas history). Mafra National Palace (purchase of the Portrait of the 1995 Chief Engineer of the Realm Manuel Azevedo Fontes); 2003 Scholarships for students from the Portuguese-speaking Ajuda National Palace (restoration of the Gobelins Centre for Bioethical Studies; countries of Africa. Room); Centre for Studies of the Religious History of Jerónimos Monastery (restoration of the Presbytery Universidade Católica Portuguesa (support to the 1996 retable). preparation of the Guide to the Religious Orders in ISCTE Centre for African Studies (award of a Masters’ Portugal); scholarship in Mozambique). 2000 Centre for Overseas History of the Faculty of Social and New Barcelos Bridge (Barcelona City Council); Human Sciences of Universidade Nova de Lisboa (setting 1997 Ajuda National Palace (restoration of the up a database on the Portuguese expansion). Universidade Nova de Lisboa (scholarship to fund a Gobelins Room); Masters course for an Angolan student). World Monuments Fund Portugal Association (restoration Support to co-operation of the Cloisters of the Jerónimos Monastery). with Portuguese-speaking Countries 1998 Scholarships for students from the Portuguese-speaking 2001 1994 countries of Africa; Historic Centre of Barcelos (Barcelos City Council, Local GAS’África (mission in Africa of the Social Action Group Creation of the Lima Félix Scholarship. Technical Office); of Universidade Católica Portuguesa). Pena National Palace (Sintra) / IPPAR (restoration of the 1999 chapel retable); 1995 Protocol with the City of Lisbon Foundation (to provide Ajuda National Palace / IPPAR (restoration of the VIDA – International Volunteers for African Development lodging for Foundation scholarship students having no Gobelins Room); (working among the population of Mozambique); accommodation in Lisbon). League of Combatants, Oporto Nucleus (restoration of GAS’África, da Universidade Católica Portuguesa the building); (working among the population of Angola); 2003 World Monuments Fund Portugal Association (restoration Movement in the Service of Life (working among the Parish of Nossa Senhora da Conceição, Maputo, of the Cloisters of the Jerónimos Monastery). needy population of North East Brazil); Mozambique (grant of a scholarship to the parish priest ASUL – Social Action of the Universidade Lusíada to take his Masters). 2002 (working among the population of the Cape Verde Lisbon Cathedral (restoration of the retable); Islands). Support to Publications Diocese of Angra do Heroísmo, Azores (restoration of works of art); 1997 1994 Ajuda National Palace (restoration of the Gobelins Monitoring support to various non-governmental Edition of the Spanish magazine Poesía, dedicated to Room); organizations operating in the social welfare area in the Almada Negreiros (in co-operation with the Spanish Encarnação Parish Church (restoration of the ceiling Portuguese-speaking Countries of Africa. Culture Ministry). paintings); World Monuments Fund Portugal Association (restoration 1998 1995 of the Cloisters of the Jerónimos Monastery). Oikos / Horresiha Resource Centre, Mozambique Island Book about the 250th anniversary of the Embassy (economic and social development project); of the marquis of Fontes to the Holy See 2003 Support to the following pavilions within the scope of (commemoration of the 90th anniversary of Lisbon Cathedral (restoration of the retable); Expo ’98: Mozambique, Guinea-Bissau, São Tomé e the National Coach Museum); Friends of the British Cemetery, Elvas (restoration Príncipe, Observatório de Relações Exteriores,a work about of the church); Community of Portuguese-speaking Countries,Timor, Portugal’s foreign relations (published by Universidade Nossa Senhora dos Navegantes Church (works); VIDA Project and Madeira Autonomous Region. Autónoma de Lisboa). Brotherhood of the Parish of Santa Maria Madalena 105 (restoration of the church organ); 2001 1996 Brotherhood of the Holy Sacrament of the Parish of Amílcar Cabral Information and Documentation Centre, Présence du Portugal en Belgique (published by the Encarnação (restoration of the ceiling paintings); Santa Ana Home, Lubango, Angola. Portuguese embassy in Brussels); Social Responsibility [Three case studies]
A iluminura de Santa Cruz no tempo de Santo António 1996 1996 (published by Comissariado das Comemorações Sintra Music Festival (Sintra Town Council). Eight Centuries of Portuguese Missionary Work (in the Antonianas); Vatican City, with sponsorship of the catalogue). O recinto amuralhado de Évora (published by Estar 1997 Editora); Choir of the Oporto Cathedral; 1998 Código Civil, Penal e Comercial de Moçambique (three German choir at Universidade Católica (Oporto); From the Cross of Christ to the Rising Sun (in Aveiro and volumes, published by Lisbon Faculty of Law); Estoril Coast Music Festival; Lisbon; organised by the Portugal-Japan Friendship Observatório de Relações Exteriores (published by 5th Coimbra Music Festival. Association). Universidade Autónoma de Lisboa). 1998 1999 1998 São Carlos National Theatre (support within the scope From the Cross of Christ to the Rising Sun (at Mestre Escultor Soares Branco; of the sponsorship protocol); Idanha-a-Nova and Oporto; organised by the Histórias da História da Guiné-Bissau (published by Sintra Music Festival (Sintra Town Council). Portugal-Japan Friendship Association); Comissariado-Geral da Guiné-Bissau para a Expo 98), The First Century in Brazil (in Lisbon, at the Sociedade 1999 Histórica da Independência de Portugal). 1999 São Carlos National Theatre (support within the scope Actas das VI Jornadas de Direito Canónico (Fátima); of the sponsorship protocol); 2000 Lusitana Sacra Magazine,Tome X (UCP Centre for Sintra Music Festival (Sintra Town Council). Association of the Friends of the Museums of Portugal Religious History Studies); (support to activities); Revista de Museologia; 2000 From the Cross of Christ to the Rising Sun (itinerant Pavilhão de Portugal,by Álvaro Siza and Eduardo Souto de Summer Concerts 2000 (Afonso Pais Sousa); exhibition, organised by the Portugal-Japan Friendship Moura. Sintra Music Festival (Sintra Town Council); Association); Portuguese Musical Youth (Tao Chang tour); Lugar aos Novos, at the Dr. António Cupertino Miranda 2000 Living Music Festival 2000 (Pedro Rebelo); Foundation; Museu de Serralves (Editideias); São Carlos National Theatre (support within the scope The Torre do Tombo at the Turn of the Millennium (in Lisbon, "Portucale Collection", within the scope of ‘Oporto, of the sponsorship protocol). at the Torre do Tombo); European Capital of Culture - 2001’ (Edições Inapa); The Romans (in Lisbon, at the Sociedade Histórica da História e Retábulo-Mor do Mosteiro dos Jerónimos 2001 Independência de Portugal). (published by IPPAR). Sintra Music Festival (Sintra Town Council); Portuguese Contemporary Dance Company; 2001 2001 Choir of Santa Maria de Belém; Portuguese Association of Companies with Museums; Publication by the Portugal – Germany Co-operation Nova Filarmonia Portuguesa, cond. Álvaro Cassuto (CD Friends of the Museums of Portugal Federation; Association of Portuguese composers); Gravura – Sociedade Cooperativa de Gravadores Publication by Edições Colibri; Coimbra Music Festival (Papagueno, Lda.); Portugueses, CRL; "Portucale Collection", within the scope of ‘Oporto, Musical initiative support (Produções Tito Celestino da National Archives Institute – Torre do Tombo; European Capital of Culture - 2001’ (Edições Inapa); Costa, Lda.); Portuguese Museum Institute – Chiado Museum; Publication of the Éditions Chandeigne; Music Festival at São Roque (Santa Casa da Misericórdia Alberto Sampaio Museum; Instituto da Empresa Familiar (support to publishing de Lisboa); The Romans (in Lisbon, at the Sociedade Histórica da activity); Sintra Music Festival (SintraQuorum, E.M.); Independência de Portugal); Parish of São Pedro de Penaferrim; São Carlos National Theatre (support within the scope Higher School of Arts and Design (exhibition directed at Publication by Quetzal Editores; of the sponsorship protocol); youths / Vestígio, Lda.). Publication by Cooperativa de Formação e Animação Vianna da Motta International Music Foundation; Cultural, CRL (Universidade Lusófona); XIV International Music Festival of the Azores Francisco 2002 Centre for Canonic Law Studies of the Universidade de Lacerda. Oeiras Town Council (exhibition); Católica Portuguesa (support to publishing). Friends of the Museums of Portugal Federation; 2002 Museum of the Presidency of the Republic. 2002 Sintra Music Festival (Sintra Town Council); Commemorative publication (Madeira Chamber of Coimbra Chamber Orchestra (support for the year’s 2003 Commerce and Industry); activities); Coimbra City Council (exhibition of paintings); Publication of the Congress minutes (Universidade Estoril Coast Music Festival; Friends of the Museums of Portugal Federation; Católica Portuguesa); Choir of the Former Coimbra University Choral Singers Exhibition of the Sacred Art of the South of Portugal Publication of Doctorate thesis (Faculty of Letters of (support for the show); (in Rome, at the Santo António Portuguese Institute); Coimbra University); São Carlos National Theatre (support within the scope José Moreira da Silva (exhibition of paintings); Institute for Tropical Scientific Research (publication on an of the sponsorship protocol); Eero Aarnio (Vestígio – Consultores de Design, Lda.); African theme). Portuguese Contemporary Dance Company. A Polyhedron in the School (Visionarium, Europarque Science Centre, Santa Maria da Feira). 2003 2003 Publication of a commemorative book (Madeira Estoril Coast Music Festival; Support to the organisation Chamber of Commerce and Industry). Évora Classical Music Festival (House of Cadaval); of congresses and colloquia Santa Maria de Belém Choir (Christmas Concert); Support to Music and Dance Choir of the Former Coimbra University Choral Singers 1995 (20th anniversary commemoration); Lisbon Vascular Institute (organisation of International 1993 Coimbra Chamber Orchestra; Medical Congress). Sintra Music Festival (Sintra Town Council). The Violins of the Metropolitan (gala concert); Sintra Music Festival (SintraQuorum, E.M.); 1997 1994 São Carlos National Theatre (support within the scope IPPAR (colloquium on the History of Lisbon). Music Festival at São Roque (Santa Casa da Misericórdia of the sponsorship protocol). de Lisboa). 1999 Support for exhibitions Management in Culture (cycle of conferences organised 1995 by the António Cupertino de Miranda Foundation with Évora Classical Music Festival (the House of Cadaval); 1994 the support of the Foundation 106 Music Festival at São Roque (Santa Casa da Misericórdia Eight Centuries of Portuguese Missionary Work (at the International Colloquium on Christianity in Japan. de Lisboa). São Vicente de Fora Monastery, at the initiative of the Portuguese Episcopal Conference). Social Responsibility [Three case studies]
2001 2000 Retinopathy Association of Portugal (congress); 2001 Life Defence and Support Association; Portuguese Archaeology Institute (congress). A’Aparte, Oficina de Arte; Santo Tirso Solidarity and Welfare Association; Arsenal, Support to Artistic Creation; Association for the Promotion of the Teaching of the 2003 Portuguese Youths European Parliament Association Blind / António Feliciano Castilho Institute (Walking Stick Portuguese Urology Association (congress); (participation in Parliament sessions by youths); Workshop). Women in Action Association (support to organisation Cooperativa de Ensino Universidade Lusíada, CRL, of congress). Oporto (prize for the best students); 2001 Santo António Diocesan School, Portalegre (award of Ajuda Association for Rehabilitation and Integration Support to entities promoting training the annual scholarships); (Aria); cultural development National Youth Council (higher education student Association of Welfare Works of the Society of Saint meeting); Vincent de Paul; 1994 a 1999 Lisbon Higher College of Music (educational activity); Leiria Life Defence and Support Association; Project to develop the ‘Patrimatic’ database (Multimedia Fomento – Cooperativa de Centros de Ensino, CRL Family and Friends of the Deaf Association; Information System, for cultural heritage and regional (scholarships for young students); Social Emergency Association; development) by the National Culture Centre (CNC); National Administration Institute (award of scholarships); ‘Clube Gaivotas da Torre’ Youth Association (social sub-products were created: CDs, handbooks, guides and Diocesan Secretariat for Religious Teaching of the Lisbon welfare); studies). Patriarchate (training courses); Association for Psychosocial Study and Integration; Aveiro University (support to the organisation of a Portuguese Association of Friends and Relations of 1999 conference); Alzheimers Patients; Initiation in Engraving and Theory of Colour Courses Universidade Católica Portuguesa Beiras Regional Centre Life and peace Community (support for the homeless); (organised by ‘Gravura’, the Portuguese Engravers (support for a colloquium on economics); Crinabel – Cooperativa de Ensino Especial e Co-operative). Universidade Católica Portuguesa / Oporto Regional Solidariedade Social, CRL Centre (support for the training programme); Frei Manuel Pinto Fonseca Foundation/ São Fiel 2000 Universidade Católica Portuguesa Faculty of Law Treatment Centre; Guerras do Alecrim e da Manjerona (Arsenal, Support to (acquisition of books); Portuguese Community Against Aids Foundation; Artistic Creation); Universidade Católica Portuguesa Faculty of Theology Defence of Life Movement; CNC (Young citizen on wheels); (acquisition of books). Protective Parents; CNC (Lisbon-Oporto Cultural Bridge). Life Support Point (support for pregnant women in 2002 difficulty); 2001 Actions for a United World (scholarships); Santa Casa da Misericórdia de Vale de Cambra. Cultural programme for youths (CNC); Maria António Barreiro Foundation (award of Eça de Queiroz Foundation (acquisition of furniture); scholarships for the Montes Claros University School); 2002 Sponsorship protocol with the Portuguese Museum Training Course Programme; Drug-addiction Treatment Association (ATT); Institute; Universidade Lusófona (scholarships); Diocese of Baucau – Timor (support for social welfare Support for culture (RTP,Channel 2). Yehudi Menuhin Foundation Friends Association for the needy population); (education through music). Family and Society Foundation – family support in the 2002 social and health area; Sponsorship protocol with the Portuguese Museum 2003 Portuguese Community Agaisnt Aids Foundation; Institute. AR.CO, Art and Visual Communication Centre Curry Cabral Hospital (acquisition of medical (acquisition of didactic equipment); equipment); 2003 Cooperativa de Ensino Universidade Lusíada, CRL, Porto Life Support Point (support for young pregnant women Valadares Choral Singers Association (support to musical (prizes for the best students); in difficulty). activities); Boavista University School (support for pedagogic CNC (contribution as ‘Golden Sponsor’); activities); 2003 Eça de Queiroz Foundation; Crinabel – Cooperativa de Ensino Especial e Universidade Lusíada Social Welfare Association (travel by Sponsorship protocol with the Portuguese Museum Solidariedade Social, CRL (special teaching); groups of youths to provide welfare service in Africa); Institute Restelo Secondary School (support for new evaluation Actions for a United World (training for teachers in Institute for Tropical Scientific Research, CEFA (training programmes); Angola); courses in the Cape Verde Islands). International Institute for Asian Studies and Interchange Acreditar – Association of Parents and Friends of (support for pedagogic activities); Children with Cancer (support for the Acreditar Home); Support to activities in the field of education Planeta Maravilha (pedagogic activities directed at Mothers’ Help (welfare association); children). Childhood and Old Age Friendship Association (Santo 1995 António Home); Post-graduate courses for physicians (Department of Provision of health services, solidarity, social Leiria Life Defence and Support Association; Medical Education of the Lisbon Faculty of Medicine). welfare and humanitarian measures in general Social Emergency Association (welfare work among the needy); 1996 1995 ‘Clube Gaivotas da Torre’Youth Association. ISCTE Centre for African Studies (support to scientific Le Patriarche Association (financing drug-addiction Drug Addiction Treatment Association; research and preparation of studies on the treatment). Santo Estêvão Social Well-being Centre (support for Portuguese-speaking Countries of Africa). users); 1996 Life and Peace Community (support for the homeless); Portuguese Red Cross (for the Higher College of Helen Keller Centre; 2000 Nursing). Help the Church that Suffers Foundation; Maria António Barreiro Foundation (award of Ronald McDonald Child Foundation (construction of a scholarships for the Montes Claros University School); 1997 support home for sick children undergoing hospital West Lisbon Rotary Club (award of 2 scholarships); Le Patriarche Association (financing drug-addiction treatment); Summer Course Abroad (Former Students Association treatment). Parish of Nossa Senhora da Conceição, Oleiros; of the Faculty of Economic Sciences of Universidade Sol Sem Fronteiras. Católica Portuguesa); 1998 Universidade Lusíada (prize for the best students); São Tomé e Príncipe Polytechnic Institute. Universidade Lusófona (award of twelve scholarships). 107 Social Responsibility [Still supporting the Community]
Still supporting the community
‘For a Better World’ Newborn, Mothers’ Help,The O Século Lisbon: the Lisbon Half Marathon Support given by Rock in Rio-Lisbon Foundation, the Portuguese Association (April 25 Bridge) and the Half Marathon to social projects for the Rights of Minors and of the of Portugal (Vasco da Gama Bridge), The Rock in Rio-Lisbon social project Family, Cercicoa, and the League of both of considerable international ‘For a Better World’ allowed a total Friends of the Children prestige. In addition to being major of 663,788,43 euros to be collected. of the Maria Pia Hospital. events and festive occasions for the city, The Rock in Rio-Lisbon social project they involve concerns of a social nature, focuses in programmes designed The Rock in Rio-Lisbon social project providing funds for several social welfare to improve the living conditions of involves not only the selection of institutions. children and youths around the globe. Portuguese beneficiary institutions but also a guarantee that the donations will Of the institutions that are usually At international level, the institution be properly applied and implemented. included in the programme, the focus that was supported was Plan Millennium bcp was the principal this year was on the National International Childreach, which has sponsor of Rock in Rio-Lisbon, a festival Association of Rheumatoid Arthritis been around for some 60 years and held on May and June 2004. Patients (ANDAR) which, with the held has programmes around the world of the funds that were collected, was in 43 needy countries. Seven domestic Running and helping recently able to buy a people carrier institutions also received support The Half Marathons fitted with accessories specially designed provided by several sources of income: Millennium bcp is one of the sponsors to help patients to get in and out and Child Support Institute, Help the of the two half marathons held in for ease of transport.
Rock in Rio – Lisbon (June 2004). Social Responsibility [Still supporting the Community]
Other Beneficiaries: – CERCIS – Portuguese Rheumatic Disease League – O Escolha / Oporto (prevention of juvenile crime and social insertion of youths – O Elo Social (association for the integration of and support to mentally diminished youths and adults) – Rotary International (Polio Plus / Infantile paralysis) – AMI (International medical Assistance) – STRESS – ARIA (Oeiras Inter-help Rehabilitation Association) – AFID (National Association of Families for the Integration of the Disabled) – APPACDM (Portuguese Association of Parents and Friends of Mentally Diminished Citizens) – APPC (NRS) – Socio-professional Rehabilitation Centre – UNIPAZ – APERCM (Mafra Association for the Education and Rehabilitation Lisbon Half Marathon (March 2004). of Ill-adapted Children later distributed through 1,056 welfare with the national campaign organised Another kind of Banking: institutions to more than 200,000 people by the RTP TV station and other The Food Bank Against Hunger demonstrably in need of food. public and private entities to collect Millennium bcp has provided support funds to support the victims of the to the Banco Alimentar Contra a Fome. COTEC against Fire fires that affected the whole country. Together with other institutions, For the purpose a "Rebirth from It has supported the manufacture Millennium bcp supported the COTEC the Ashes" account was opened, of the plastic bags it uses in the Initiative On Fires, the aim of which through which a total of 1,740,061 euros two annual campaigns organised is to improve the national forest fire were collected as donations, later by the institution to collect food across prevention and fighting system, as well handed over to the National the country and, at the same time, as to drawn up proposals for the Association of Municipalities and used it has provided a monthly contribution improvement of the system. to help the victims and to restore to cover the cost of a tonne of property. canned tuna. In Portugal the forestry industry: – accounts for over 3% of the GDP; Further Intervention Thanks to the Food Bank a total – makes a contribution of about 11% to by Millennium bcp of 12,000 tonnes of food were collected exports; In addition to the foregoing measures, during 2003. Support was provided – provides over 160,000 direct jobs; Millennium bcp supports dozens to 1,032 welfare institutions and to over – involves more than 400,000 forest of institutions that provide social work 200,400 people. In the first programme owners; in various fields, with emphasis of 2004 the Food Banks collected – brings about great environmental on the support provided to the a total of 945,8 tonnes of food. benefits. provision of health care and social welfare services for the needier and A team of around 10,500 volunteers Rebirth from the Ashes to humanitarian proposes in general, 109 received, transported and stored During the summer of 2003 undertaken by credible institutions the food that was collected and was Millennium bcp became associated specialised in each area. [ Acknowledgements ]
This Report is the result of teamwork and includes contributions by many areas and countless Millennium bcp employees, in addition to external persons and institutions that made a major contribution to its enrichment.
We would like to express our thanks to all those who have made a contribution in any form.
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Millennium bcp Banco Comercial Português, S.A.
www.millenniumbcp.pt
Praça D. João I, 28 – 4000-295 Oporto – Portugal Telephone: (+351) 22 6071142
Rua Augusta, 84 – 1149-023 Lisbon – Portugal Telephone: (+351) 21 3211000
Communication and Institutional Relations Rua Augusta, n.º 84-2.º – 1149-023 Lisbon – Portugal Telephone: + 351 21 321 17 41 E-mail: [email protected]
International Division Av. José Malhoa, Lote 1686-9.º andar – 1070-157 Lisbon – Portugal Telephone: (+351) 21 721 80 68
Investor Relations Rua Augusta, n.º 84-1.º – 1149-023 Lisbon – Portugal Telephone: + 351 21 321 10 81 E-mail: [email protected] Owner: Millennium bcp Consultancy: Triple Value | Sustentare, Lda. – www.triple-value.com Etymological notes: Sara de França Sousa (p. 9) Photographs: Eduardo Grilo (pp. 47, 52); Onshot Estúdio (pp. 2, 16, 36, 40, 80, 85, 89, 99, 101,103); Imageone (pp. 6, 7, 10, 30, 32, 34, 37, 39, 41, 42, 43, 44, 45, 48, 50, 57, 58, 60, 62, 63, 68, 69, 70, 71, 73, 76, 79, 82, 83, 104); Agência Lusa (p. 93); João Bessone (pp. 18, 72) Graphic design and production: Direcção de Comunicação e Relações Institucionais Millennium bcp Pre-printing and pagination: Choice – Comunicação Global, Lda. – www.choice.pt Printing and finishing: SocTip – Sociedade Tipográfica Translation: Peter F. Ingham Legal deposit: 217685/04 Printed October 2004
BANCO COMERCIAL PORTUGUÊS plc,VAT n.º 501 525 882, registered at the Oporto Registry of Companies under n.º 40,043, with a share capital of 3,257,400,827 euros, having its registered office at Praça D. João I, 28 – 4000-295 Oporto. Portugal. The refoundation project reflected in the introduction of the new Millennium bcp brand, focusing as it does on the life of its Customers, mobilising the energy of all its Employees and recentring corporate activity on the service and on sharing benefits with the Customer, consolidates social responsibility as an imperative of the business, as an investment in our future. Jorge Jardim Gonçalves Chairman of the Board of Directors